CareerBuilder.com: Majority of US Workers Live Paycheck-to-Paycheck
More than six in 10 (61%) of US workers live paycheck-to-paycheck to make ends meet, according to a new study sponsored by CareerBuilder.com. Among workers earning $100K a year or more, the percentage drops to 30%.
Despite the lower numbers for those with higher incomes, the percentage of workers who say they usually or always live paycheck-to-paycheck has risen both among the general population and more affluent workers. The overall percentage has risen from 49% in 2008. For workers earning $100K or more, it has risen from 21% in 2008, reports Retailer Daily.
The study also indicated that many workers are cutting back or eliminating retirement plans and other savings in order to pay for current expenses. Two in 10 (21%) of overall respondents have reduced contributions to retirement plans or personal savings in the last six months, and 23% of respondents earning more than $100K have done so.
Moreover, 36% of overall respondents do not participate in any retirement plan at all, and 33% put no money aside for personal savings each month. Another 30% save $100 or less each month and 16% save $50 or less each month, the study found. …
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