On average, Americans believe they would need to earn $186,000 per year to feel financially secure, according to a new Bankrate survey.
Bankrate’s Sarah Foster says parents of minors say they need to earn the most — $215,000.
“We’re also seeing that Gen Zers, they’re getting their lives started in this era of high inflation, and they’re indicating that they need to earn at least $200,000 on average to feel financially secure,” Foster said. “So what I think the story that we can glean from this is that some of these groups who have been really hit with inflation harder than anybody else might be indicating that they need even more to feel comfortable.”
75% of Americans say they are not completely financially secure. This includes 45% who are not financially secure but believe they will be someday, and 30% who expect they never will be.
