More than a third of Americans earning over $500,000 say they’re living paycheck to paycheck, Goldman Sachs finds
Nearly half of $500K-plus households pay only the minimum on their credit cards, and 80% have put off a major financial goal—more than middle earners on both counts.
More than one-third of Americans earning over $500,000 report struggling to make ends meet, according to a recent study by Goldman Sachs Asset Management. The survey of 5,106 people found that 36.6% of high-income households, defined as those earning over $500,000, live paycheck to paycheck, a higher rate than any other income group except those earning under $50,000, where 60.8% reported the same.
The report highlights the growing challenge of competing financial needs, as housing, healthcare, education, caregiving, and everyday costs have outpaced wage growth for years. Consumer prices have risen by roughly 22% over the past five years, with fuel prices increasing by 27.4% year-over-year in August. Despite a record median household income of $87,460 in 2025, many families still feel the squeeze of rising costs on their monthly budgets and long-term savings.
The study also notes that retirement savings momentum has stalled, with the share of working respondents increasing their retirement savings falling from 55% in 2025 to 39% this year. Younger workers are particularly affected, with many taking on extra work to make ends meet. The data suggests that high earners often have more complex financial lives and lifestyle expectations, leading to delayed major financial goals and retirement savings.
While many top earners feel secure in their jobs, 87% of respondents earning over $500,000 still believe their work provides a stable path toward long-term financial security. However, the findings challenge the assumption that more income automatically results in greater financial security.
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