U.S. income survey shows paycheck-to-paycheck strain at low and high earnings

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US income survey paycheck strain

Highlights

A July survey by Goldman Sachs Asset Management and Escalent finds 61% of Americans earning under $50,000 and 37% earning over $500,000 live paycheck to paycheck, showing a U-shaped pressure pattern.
Forty-five percent of top earners surveyed report delaying retirement despite being employed, with 31% of Americans overall citing housing costs as the main barrier to saving.
A ZipRecruiter survey indicates 45% of workers earning over $150,000 have supplemental jobs versus 31% in the $25,000-$50,000 band, highlighting broader economic strain across income levels.

Survey findings highlight a U-shaped pressure pattern

As reported by Business Insider, citing Goldman Sachs Asset Management and behavioral economics firm Escalent, a July survey of working Americans shows 61% of respondents earning less than $50,000 say they are primarily living paycheck to paycheck. That share falls to 22% among those earning $100,000 to $200,000, then rises to about 37% for respondents making more than $500,000.

The report says financial security does not increase evenly with income and instead follows a U-shaped pattern. It also finds similar income-based curves in how often money worries affect concentration at work, how many people struggle with credit card payments, and how many delay financial goals.

For lower-income households, the pressure is tied to everyday costs. A Pew Research Center survey finds 42% of lower-income U.S. adults struggle to afford daily transportation costs, while 39% say the same about rent or mortgage payments. Gasoline prices are rising faster than before the Iran war, grocery prices are still increasing, and the gap between income and the earnings needed to afford a home has widened, according to an Atlanta Fed tracker.

Among higher earners, the report points instead to more complex finances, higher lifestyle expectations, larger fixed commitments, and a wider perceived gap between the retirement they want and what they believe they have secured. Chris Ceder, senior retirement strategist at Goldman Sachs Asset Management, says lifestyle creep may also be contributing to the pressure.

Retirement and side-work trends shape the impact

The highest-income group in the survey also reports the largest share of workers delaying retirement despite being employed, at 45%. When asked what most stands in the way of retirement saving, 31% of Americans overall cite housing costs, another 31% cite day-to-day living expenses, and 27% point to debt payments.

The report says those obligations are difficult to postpone and are typically paid before long-term savings. Ceder says housing costs, family care, and healthcare are leading concerns for higher earners, while debt management ranks among the top issues for lower earners.

Ceder also says top-income workers are the most likely to take on multiple jobs, a pattern that may reflect efforts to prepare for unexpected expenses or strengthen retirement savings. A ZipRecruiter survey from earlier this year shows about 45% of workers earning more than $150,000 have supplemental work, compared with 31% of those earning between $25,000 and $50,000.

The findings suggest that paycheck-to-paycheck living is becoming a broader economic signal rather than a condition limited to low-wage households. For employers, asset managers, and policymakers, the trend points to financial strain that affects workforce focus, savings behavior, and longer-term household stability across income bands.

In our earlier article on Walmart’s growing appeal amid persistent inflation, we covered how rising everyday costs are pushing more budget-conscious shoppers toward the retailer and supporting expectations for further market share gains. We also noted that Walmart’s expansion into higher-margin businesses, automation, and digital tools such as its AI-powered shopping assistant is a key part of the investment case, as the company seeks to translate value positioning and technology into stronger performance.

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