How much do you need to live comfortably? Do you think you’re already making a comfortable income?
According to a new Bankrate survey, many people would probably say, “No.” https://lnkd.in/eQKf5i2R
According to Bankrate's Financial Freedom Survey, almost half of Americans (45%) believe they need to make a six-figure annual income ($100,000 or more) to feel financially secure. Even more striking, over a quarter (26%) say they need to make $150,000 or more.
And what's more, 56% of people feel like they need to make more than they already are to live comfortably.
Is it superfluous, or is there some truth to it?
Indeed, incomes don't go as far as they used to. Earning $150K a year puts you in the top 10% of earners in the U.S., but in many high-cost cities and states, it’s considered a "middle" income salary. Enter the phenomenon of "HENRYs" (High Earners, Not Rich Yet), a growing share of people who make a salary we might typically consider “wealthy” and still feel like they are living paycheck to paycheck.
But our definitions of wealth and comfort are relative, and there's a bit of lifestyle inflation going on. While only 16% of people making under $50,000 felt they needed at least $150K to live comfortably, that percentage rises to 21% for those making between $50,000 and $79,999, 28% for those earning $80,000 to $99,999 and a staggering 54% for those making $100,000 or more.
This isn’t necessarily about Americans doing anything wrong. They might be living in high-cost cities where rent is pricey. Many people might’ve invested in their education, but student loan payments are pinching their budget. Plus, after periods of restraint, the lure of a grander lifestyle can be hard to resist.
But this raises an important question: If even upper-income Americans are struggling to grow wealth for themselves, what does that mean for lower- and middle-income Americans' ability to grow their money?
Some recent college graduates who have spent over a year job hunting are starting to doubt the value of their undergraduate degrees. The unemployment rate for college graduates ages 22 to 27 rose to 5.3% in the past six months, an analysis shows, up from 4.4% for the same period one year prior. Typically, college graduates in that age group have a lower unemployment rate than workers without degrees. Now, their advantage is as small as it has been at any point in over 30 years.
The Class of 2025 Is Entering an Economic Dead Zone
It’s never been this brutal.
• Over 50% unemployment for new Computer Science graduates
• Hundreds of job applications with no responses
• Master’s graduates posting daily about rejections and stalled careers
• One in five students is unable to find a summer job
For the first time in U.S. history, the unemployment rate for young college graduates is higher than the general population, which includes mostly non-grads.
They’re being undercut by H-1Bs, OPT hires, degree-free coders, and AI systems. The “degree premium” is vanishing, and student debt is making graduates even less competitive.
This isn’t just about jobs—it’s delaying entire lives:
Dating, marriage, home ownership, and family formation are all pushed to the 30s and 40s, if they happen at all.
They were promised:
• Go to college
• Take out loans
• Get a good job
• Build a future
Instead, many face:
• Retail and service work
• Mounting debt
• Zero career trajectory
• Economic limbo
If you’re a recent graduate, here’s what you must do now:
• Stop mass-applying and tailor every application
• Learn high-demand, practical skills and show your work
• Build a portfolio, not just a resume
• Look into apprenticeships, freelancing, or startups
• Think globally, act digitally, move fast
This is not the economy your parents graduated into.
This is the AI economy, and it doesn’t care about your diploma.
It’s never been this brutal.
• Over 50% unemployment for new Computer Science graduates
• Hundreds of job applications with no responses
• Master’s graduates posting daily about rejections and stalled careers
• One in five students is unable to find a summer job
For the first time in U.S. history, the unemployment rate for young college graduates is higher than the general population, which includes mostly non-grads.
They’re being undercut by H-1Bs, OPT hires, degree-free coders, and AI systems. The “degree premium” is vanishing, and student debt is making graduates even less competitive.
This isn’t just about jobs—it’s delaying entire lives:
Dating, marriage, home ownership, and family formation are all pushed to the 30s and 40s, if they happen at all.
They were promised:
• Go to college
• Take out loans
• Get a good job
• Build a future
Instead, many face:
• Retail and service work
• Mounting debt
• Zero career trajectory
• Economic limbo
If you’re a recent graduate, here’s what you must do now:
• Stop mass-applying and tailor every application
• Learn high-demand, practical skills and show your work
• Build a portfolio, not just a resume
• Look into apprenticeships, freelancing, or startups
• Think globally, act digitally, move fast
This is not the economy your parents graduated into.
This is the AI economy, and it doesn’t care about your diploma.