:money_bag:The average American thinks they need to earn $233,000 per year to feel financially secure.
:chart_with_upwards_trend:High inflation, economic environment, and raising interest rates contribute to financial insecurity.
:safety_vest:Over 40% of people cited insufficient emergency funds as a reason for financial insecurity.
:credit_card:40% of Americans cannot cover a $400 emergency with cash savings.
:dollar_sign:60% of Americans do not have a retirement-specific savings account.
How much money do Americans believe they need to be financially comfortable?
—The average American believes they need to earn $233,000 per year to feel financially comfortable.
What factors contribute to financial insecurity?
—High inflation, economic environment, and insufficient emergency funds are key factors.
How many Americans cannot cover a $400 emergency with cash savings?
—40% of Americans cannot cover a $400 emergency with cash savings.
How many Americans do not have a retirement-specific savings account?
—60% of Americans do not have a retirement-specific savings account.
What can individuals do to improve their financial security?
—Building an emergency fund, cutting expenses, and finding additional streams of income can help improve financial security.
00:00The average American believes they need to earn $233,000 per year to feel financially comfortable.
00:19High inflation, economic environment, and raising interest rates contribute to financial insecurity.
00:33Over 40% of people cited insufficient emergency funds as a reason for financial insecurity.
01:0340% of Americans cannot cover a $400 emergency with cash savings.
01:3160% of Americans do not have a retirement-specific savings account.
