(NewsNation) — Feeling financially secure in the U.S. is all about perspective, a new survey from The Harris Poll suggests.
Nearly one-third of respondents earning six figures described themselves as financially distressed, while two-thirds in the high-earning group said they don’t consider themselves wealthy.
For the “Income Paradox Survey,” more than 2,100 Americans were queried over the summer, including 728 Americans who make $100,000 or more annually and 280 who make at least $200,000 a year.
Members of the six-figure earning class tended to agree they’re in “survival mode,” and they are more likely to put everyday expenses on a credit card when cash is tight, according to poll results; 44% indicated they feel one unexpected bill away from “financial chaos.”
Why such negativity from people perceived as being fairly well off? Analysts offer a variety of explanations, including an obvious one: Someone making a six-figure income in New York City might conceivably struggle compared to one of their counterparts in middle America.
Also, inflation has taken a toll. Comerica Bank chief economist Bill Adams tells USA Today that someone must make $175,000 today to match the purchasing power of that salary 20 years ago.