Financial Security – How Much Is Enough?

3-in-4 Americans say they are at least somewhat stressed about their finances.

Inflation and rising interest rates are stressing out the American people.

WHY IT MATTERS – Financial security is not just about meeting basic needs. It’s also about peace of mind.

THE NUMBERS – A CNBC Your Money survey asked Americans how much money they need to earn to be financially comfortable. While approximately one-third are content with earning between $50,000 and $99,999, many Americans still find themselves needing more:

  • 14 percent – less than $50,000
  • 31 percent –between $50,000 and $100,000
  • 26 percent – between $100,000 and $150,000
  • 12 percent – between $150,000 and $200,000
  • 15 percent – more than $200,000

Of those who say they need at least $200,000 to be comfortable:

  • 7 percent currently earn below $50,000
  • 9 percent currently earn $50,000 to $99,999
  • 32 percent currently earn $100,000 or more

The results highlight varying income needs across age groups, influenced in part by caregiving responsibilities and other expenses. Among respondents ages 18 to 34, 52 percent are comfortable with less than six figures. Of those 65 and older, 49 percent find an annual income below six figures sufficient. However, among those ages 35 to 64, 59 percent require a six-figure salary, while 17 percent believe they need an annual income of at least $200,000 to be comfortable.

THE BOTTOM LINE – Economic factors are reshaping Americans’ financial comfort needs.

GO DEEPER – How much money Americans say they need to earn to be financially comfortable