Living paycheck to paycheck on $350,000 a year? A shocking number of people are saying so
It’s no surprise to hear someone in the U.S. say they’re living paycheck to paycheck. More than half of Americans do, by some measures. It’s a little more surprising to hear someone who earns well into six figures say they’re living paycheck to paycheck—but get used to hearing that, too. The question is this: What does it mean when people with $250,000 or more in annual income say they’re living paycheck to paycheck? And how is a definition of living paycheck to paycheck, where the term is being applied to these high earners, affecting our economic discourse and tax policy?
According to a PYMNTS/Lending Club report, 36% of people earning $250,000 or more are now living paycheck to paycheck, though just 10-12% said they had trouble paying their bills, while the remainder said they were living paycheck to paycheck but were comfortable. One such person recently turned to MarketWatch for help with their extremely first-world financial issues.
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