Earning six figures once signaled financial success. Today, many Americans in that income bracket say it barely covers the basics as the cost of living keeps climbing, according to a new Harris Poll survey.
The poll found a striking level of financial stress among high earners: 64% of people making at least $100,000 a year said their salary feels less like a symbol of success and more like the minimum needed just to get by.
“Even high earners are financially anxious—they’re living the illusion of affluence while privately juggling credit cards, debt, and survival strategies,” Libby Rodney, the Harris Poll’s chief strategy officer and futurist, said in a statement.
Those making $200,000 or more are increasingly turning to tools and tactics more commonly associated with struggling households. Among them:
- 64% have used rewards points to pay for everyday essentials
- 50% have turned to “buy now, pay later” plans for purchases under $100
- 46% rely on credit cards to bridge gaps and make ends meet
Their cost-cutting strategies extend to social, health, and lifestyle choices as well. The report found that:
- 49% skipped a social event to avoid splitting the bill
- 48% said they’d pretended a payment app like Venmo or Zelle wasn’t working to dodge paying
- 45% delayed or skipped medical care because of the cost
Like most Americans, six-figure earners say groceries and household essentials, housing, and health care remain the biggest drains on their income.
Feeling squeezed, many are actively searching for new ways to earn or save money. According to the survey, high earners are either already doing or considering:
- Taking on a side hustle (61%)
- Selling personal belongings (53%)
- Skipping meals to cut costs (41%)
- Renting out all or part of their home (41%)
- Turning to debt consolidation or even bankruptcy (38%)
“The illusion of wealth is exhausting,” the report noted, describing how many top earners feel others assume they can “afford it all,” while in reality they’re quietly making trade-offs—postponing plans, trimming spending, and worrying about their financial stability.
These pressures are showing up in shopping behavior, too. Discount retailers like Walmart have reported an uptick in higher-income shoppers turning to them for better prices as budgets tighten.
At the same time, results from recent off-year elections underscored that affordability remains a major concern for voters, even though inflation has eased significantly since its 2022 peak.
There may also be broader implications for the economy. Higher-income households have been a key engine of growth, and their unease could ripple outward.
“The data also show that the U.S. economy is being largely powered by the well-to-do,” Moody’s chief economist Mark Zandi said in September. “As long as they keep spending, the economy should avoid recession, but if they turn more cautious, for whatever reason, the economy has a big problem.”Thinking
