51% of Americans say they need $100,000-$250,000 yearly to feel financially successful. Yet only 13.2% of US households actually earn that much. That's a massive disconnect.
We break down the numbers in this clip from The Accounting Podcast:
About half of Americans believe six figures is the threshold for financial success.
26% think $75,000-$100,000 is enoug
Nearly 20% say you need $250,000-$500,000
6% believe you need over half a million annually!
But what does "financial success" even mean? There's a big difference between feeling secure and feeling successful. I might feel financially secure now, but would definitely feel more successful with a million-dollar income. The survey didn't seem to distinguish between these concepts.
I actually think the majority view is reasonable – in lower-cost areas outside NYC or LA, $150,000-$250,000 can provide a very comfortable lifestyle. The problem? Only about 13% of American households actually reach this income bracket.
This gap creates tension. As David pointed out, this is precisely where political discontent grows. When people feel they need a certain income to succeed but can't attain it, they begin to feel the system works against them.
Hear the full discussion in Episode 432 of The Accounting Podcast: https://accounting.show/432
