From Pennies to Prosperity: How to Cure Your Money Stress and Achieve a Six-Figure Salary
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New Research Reveals Americans Are Getting More Anxious About Their Money
Even though wages are growing and inflation is cooling, more Americans are getting anxious about their money, new research shows.
Money Stress Persists Despite Economic Signs of Recovery
Half of Americans now report that the overall state of the economy as well as their own personal finances are their biggest sources of stress, according to a wealth report released Monday by the investment and financial planning firm Edelman Financial Engines.
Financial Situation Is Top Source of Stress, Report Finds
Specifically, 48% of respondents told Edelman that their personal financial situation was their biggest source of stress, an increase from recent years. In 2023, 46% rated that as a top stressor, and in 2022 — the first year of Edelman’s survey — 43% said the same.
No Money Worries: How Much Income Would It Take?
This year, Edelman asked respondents how much they would need to earn to not worry about everyday living expenses.
Six in 10 Americans Need at Least $100,000 to Feel Secure
About 6 in 10 Americans reported that they would need a salary of at least $100,000 to stop stressing so much about money. For a quarter of respondents, it would take more than $200,000.
Financial Anxiety Runs Counter to Economic Headlines
Despite the good economic news, people’s financial anxiety is persisting — and even growing. That’s likely due to the cumulative effect of inflation, or in other words, the totality of price hikes since the start of COVID-19 crisis.
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