Americans have a specific annual income in mind for what it would take to feel financially secure, according to a new survey from Bankrate. The magic number? $186,000 per year.
Currently, only 6% of U.S. adults make that amount or more, Bankrate said. The median family income falls between $51,500 and $86,000, according to the latest federal data. Achieving financial security means being able to pay your bills while having enough left over to make some discretionary purchases and put money away for the future, the personal finance site said.
Many inflation-weary consumers continue to experience financial stress, with a new Federal Reserve Bank of Philadelphia survey finding that 35% of Americans are worried about making ends meet, up from 29% a year earlier.
I need at least $ 1.50 million cash with a paid off house.
Most people I know allow lifestyle creep to the point where $200,000 wouldn’t be enough for them to be secure. It takes saving and investing to be secure. Income is a very important component of course but you can’t just rely on that.
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Americans have a specific annual income in mind for what it would take to feel financially secure, according to a new survey from Bankrate. The magic number? $186,000 per year.
Currently, only 6% of U.S. adults make that amount or more, Bankrate said. The median family income falls between $51,500 and $86,000, according to the latest federal data. Achieving financial security means being able to pay your bills while having enough left over to make some discretionary purchases and put money away for the future, the personal finance site said.
Many inflation-weary consumers continue to experience financial stress, with a new Federal Reserve Bank of Philadelphia survey finding that 35% of Americans are worried about making ends meet, up from 29% a year earlier.
**Read more:** [https://www.cbsnews.com/news/financially-secure-salary-2024-bankrate-survey/?ftag=CNM-05-10abh9g](https://www.cbsnews.com/news/financially-secure-salary-2024-bankrate-survey/?ftag=CNM-05-10abh9g)
I need at least $ 1.50 million cash with a paid off house.
Most people I know allow lifestyle creep to the point where $200,000 wouldn’t be enough for them to be secure. It takes saving and investing to be secure. Income is a very important component of course but you can’t just rely on that.