Make Six Figures? There’s a Decent Chance You’ve Got Almost Nothing in the Bank

It's hard to feel sorry for someone making six figures, but a new survey attempts to drum up some sympathy for the deflated bank accounts of these high rollers. Close to half of those who earn from $100,000 to $149,999 a year have less than $1,000 in their savings accounts. Some 18 percent of them have socked away absolutely nothing. 

The study, from financial services website GoBankingRates, found that those who earn over $150,000 annually don't fare much better: Some 29 percent have less than a grand in their savings, and 6 percent have nothing saved at all. The study surveyed 7,052 Americans in early August.

"It doesn’t matter if they are making $30,000 per year or $300,000—people don’t seem to know how to spend less than they make," financial planner Michael Hardy said in response to the study's findings. 

Polly Mosendz | Bloomberg

Related News

Browse By Category


Send Us A Message