- In a new survey, 60% of millennials earning over $100,000 said they live paycheck to paycheck.
- Some of these millennials — known as HENRYs — prefer a comfortable, expensive lifestyle.
- In today’s economy, $100,000 is considered middle class in the US.
High-earning millennials feel broke.
Sixty percent of millennials raking in over $100,000 a year said they’re living paycheck to paycheck, found a new survey by PYMNTS and LendingClub, which analyzed economic data and census-balanced surveys of over 28,000 Americans.
It found that about 54% of Americans live paycheck to paycheck. And nearly 40% of high earners — those making more than $100,000 annually — said they live that way.
That means high-earning millennials aren’t the only ones feeling stretched thin, but they feel that way more than their six-figure-making peers. Living on constrained budgets may therefore have less to do with income and more to do with expenses, the report said.