A recent survey suggests that many Americans today would feel financially secure or comfortable if they were earning something close to a $128k salary.
Increasing inflation is making it harder for people to buy what they need and to afford that comfortable lifestyle. And millions of Americans don't earn anywhere close to a yearly $128k salary.
The average income for millions in the United States is around $51k, and what you need to survive and be comfortable varies depending on where you might be living.
Someone who is living in New York for example is obviously going to likely be spending more on average for living and other daily expenses than someone who lives in Arkansas.
Getting up to a $100k salary isn't easy. But there are many who would disagree and shout at those who are earning under this, saying they need to "work harder" or "work smarter", though this assessment doesn't arguably consider all of the many variables that contribute to economic mobility for an individual and family.
From $50k-$100k or more, you can find a variety of Americans who are living paycheck to paycheck despite their earnings.
And millions would be struggling to handle a financial emergency if one were to come about, even if it were only a few hundred dollars.
As inflation gets worse we can expect that this number of what is needed to feel secure is also obviously going to grow right along with it.
There are many Americans who might not be as prepared as they should for the future. Previously investigation has found that over 60% of Americans aren't prepared for retirement. And many likely assume that they will be given enough help from public resources to cover everything that they need, but even for many today this isn't the case.
Wow. What would that figure have been twenty years ago? Or thirty? When I was a teenager in the 90s, I imagined that anything over 40k would be gravy!
i am sure it will be fine, just gotta keep printing :) lol
Unless you've already made it, it's really hard to hit $128,000. Most people I know have lost their jobs do to this pandemic. It's difficult to pick up and overcome, especially when it comes to just earning enough to live on.