A recent Bankrate survey indicates a growing financial insecurity among Americans, with 77% expressing instability. Many believe they would need to earn $150,000 to feel secure, a figure exceeding the median U.S. salary of $62,000. Experts attribute this feeling partially to inflation, which has risen by about 24% since 2020. Additionally, lifestyle expectations and rising costs in housing and cars contribute to this sentiment, challenging the notion of financial security among even high earners, as a significant number report living paycheck to paycheck.
We experienced some of the highest inflation levels since the 1970s, and this shock has led to some of the perceptions of a higher cost of living, whether exaggerated or not.”},{
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