More Than 1 In 3 Americans Earning $300K Live Paycheck To Paycheck

High-income respondents who reported living paycheck to paycheck said they are struggling to save and make progress toward long-term financial goals.

More than one-third of Americans earning over $300,000 a year say they are living paycheck to paycheck, showing that financial pressure is reaching even some of the nation’s highest earners, Barron’s reports.

The finding comes from research by Goldman Sachs examining the financial challenges workers face while preparing for retirement, according to the outlet. High-income respondents who reported living paycheck to paycheck said they were struggling to save and make progress toward long-term financial goals.

The financial strain extends across income levels. About 40% of working Americans surveyed by Goldman Sachs reported living paycheck to paycheck, while another 40% said they were making some financial progress but still struggled to balance current expenses with long-term goals. Nearly 60% of workers surveyed said they were concerned about outliving their retirement savings.

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Those concerns come as households contend with the rising costs of major expenses. Goldman Sachs found that costs associated with housing, childcare, college, and healthcare have increased significantly since 2000, leaving workers to balance immediate financial obligations with retirement savings.

Workers with personalized financial plans also reported greater confidence in their retirement preparedness. Among respondents with a personalized plan, 83% said they believed they were on track for retirement, compared with 41% of those without one.

Employers are also placing greater emphasis on workers’ long-term financial security. A separate Goldman Sachs survey found that 72% of employers identified financial stability and retirement readiness as a top priority. Some employers are considering resources such as personalized financial guidance, managed accounts, and retirement income options to help workers navigate competing financial demands.

The findings illustrate a challenge facing workers across the income spectrum: A high salary does not necessarily eliminate financial pressure or guarantee that households can consistently build retirement savings while managing current expenses.