Americans' Financial Insecurities and the Salary Needed for Financial Security

– A Bankrate survey reveals that fewer than 1 in 3 adults in the U.S. feel completely financially secure.

– To feel financially secure, Americans on average believe they need a salary of approximately $233,000 per year, which is over three times the median U.S. household income.

– Factors contributing to financial insecurities include high inflation, economic environment, rising interest rates, insufficient emergency savings, and inadequate retirement funds.

– Over 40% of Americans say the lack of emergency savings and retirement-specific savings accounts contributes to their financial insecurity.

– Higher earners are more likely to feel financially secure, but they also tend to have higher income expectations for comfort.

– Even individuals with high salaries can experience financial insecurity, particularly due to concerns about emergency savings and retirement.

– Factors such as having children and historical inequalities, including the racial wealth gap and gender pay gap, can contribute to the perceived need for higher incomes to feel financially secure.