High-Income Americans Not Immune to Growing Financial Worries

A recent survey by the Federal Reserve Bank of Philadelphia reveals growing financial concerns among US consumers, including high earners. Over a third of respondents expressed worry about making ends meet in the next six months, up from 28.7% a year ago. Notably, even among those currently able to pay their bills in full, more than a quarter are concerned about the near future. High earners, particularly those making $150,000 or more, showed the highest levels of concern, with about 30% worried about their finances in the coming six months. The survey also indicates that many consumers, including high-income earners, have resorted to cutting back on spending to manage financial stress.