Survey reveals most Americans believe they need to make $180K+ for comfortable living

Money | July 6, 2024, 5:24 p.m.

In a recent Bankrate survey, it was found that three out of four Americans feel financially unstable and are not completely financially secure. The average American needs an income of $186,000 to live comfortably, which is significantly higher than the current average full-time worker income of $79,000. Rising prices due to the pandemic have contributed to this financial instability, with the Bureau of Labor Statistics reporting a 21% increase in prices. Younger generations, including Generation Z and Millennials, feel they need even more money to feel comfortable, with average perceived income needs of $200,000 and $199,999 respectively. Despite these challenges, only a quarter of Americans feel completely financially secure, while three out of ten believe they may never achieve complete financial stability. This data reflects the growing concerns about financial security among Americans and the need for increased income to live comfortably.