With higher prices now firmly entrenched, and President Donald Trump’s tariffs fueling inflationary issues, most People say they want an revenue increase to get by, in accordance with a brand new report.
Almost half, or 45%, of all adults stated they would wish to make $100,000 or more a 12 months to really feel financially safe, Bankrate’s financial freedom survey discovered. Roughly one-quarter, or 26%, stated they should make $150,000 or extra. Fewer — 16% — put the bar at over $200,000.
By comparability, the median family revenue in 2023 was a bit of over $80,000, in accordance with the earning method U.S. Census Bureau estimates.
Altogether, the share of People who stated they don’t really feel fully financially comfy rose to 77% in 2025, up from 75% in 2024 and 72% in 2023, in accordance with Bankrate’s survey, which polled greater than 2,200 in Could.
‘An ideal components’ for not feeling financially safe
Whereas People might need completely different definitions of what dwelling comfortably entails, being in “a monetary candy spot,” typically means “you’ll be able to cowl your payments and on a regular basis necessities but in addition have cash left over for consuming out and holidays,” stated Bankrate’s financial analyst Sarah Foster.
Nevertheless, the latest interval of excessive inflation and financial uncertainty has chipped away at most customers’ shopping for energy, in accordance with Carolyn McClanahan, a licensed monetary planner and founding father of Life Planning Companions in Jacksonville, Florida.
“One main subject is that wages have been stagnant for a big majority of the inhabitants over that point, and costs proceed to rise,” stated McClanahan, who is also a member of CNBC’s Advisor Council. “Add that to the backdrop of political instability everyone seems to be feeling, and I feel that could be a excellent components for individuals not feeling financially safe.”
Additional, households are additionally going through surging child-care bills, ballooning auto loans, excessive mortgage charges and file rents together with the resumption of student loan payments.
However a deterioration of the American dream has been many years within the making, in accordance with Bankrate’s Foster.
“It begins lengthy earlier than the pandemic,” she stated. “There has lengthy been this notion that we was once on this golden age the place you could possibly personal a house, a automobile, and get by on a single revenue — that could be a bygone period.”
A separate survey by Edelman Monetary Engines from 2024 had related findings: 58% of adults stated they would wish to earn $100,000 on common to not fear about on a regular basis dwelling bills, and one-quarter stated they would wish to earn greater than $200,000 to really feel financially safe.
Most often, feeling financially safe is just not primarily based on how a lot you earn, however slightly a dedication to avoid wasting greater than you spend and maintain a well-diversified portfolio, consultants typically say.