A Bankrate survey of more than 2,500 American adults determined the current amount they needed to earn to feel financially secure amid some of the highest debt and lack of savings.
According to the results, the respondents indicated that on average they needed to earn $233,000 annually to feel financially stable and approximately $500,000 a year to achieve financial freedom.
According to the US Census Bureau. in 2021, the annual salary of a full-time worker reached $56,473 dollars, currently a study developed by the Economic Innovation Group indicates that 12% of the population, that is, about 38 Millions of people in the United States are below the poverty line.
The Economic Innovation Group specialists revealed in the analysis that federal guidelines indicate that If a single adult individual earns less than $15,000 a year, they are considered poor. and if a household of four members that annually has a maximum of $30,000 dollars is a poor family.
Therefore, an estimated amount to feel financially stable will depend on several conditions, for example; the current financial situation, the cost of living in the area where it develops, how much the people close to it perceive and even how the experience with money has been since childhood, because for those who live with large debts, few savings and paycheck to paycheck a large income will not necessarily give you financial security what are you looking for.
The Bankrate report also indicated that 46% of respondents said they hope to one day feel financially securewhile 72% currently stated that they were not, and indeed another factor that influences financial insecurity is the economic outlook.
In this sense, the financial services company detailed which are those factors cited by those surveyed: low wages or little professional mobility (33%), increase in interest rates (36%); insufficient emergency and retirement savings (42%), the economic environment (48%), and finally the high rate of inflation (63%) the latter since last year has put pressure on the pockets of Americans.
Source: La Opinion