Recent reports indicate that an average American income falls short of providing a comfortable standard of living in 2023. According to findings from both a Gallup poll and a study conducted by financial technology company SmartAsset, it is evident that the typical U.S. family, with an annual income of approximately $71,000 as reported by the Census, considers at least $85,000 in household income necessary to meet their basic needs.
The Gallup poll reveals that the average American holds the belief that an annual household income of $85,000 is essential for a family to adequately sustain themselves.
This sentiment aligns with the SmartAsset study, which determines that an average American worker requires an after-tax income of $68,499 to live comfortably.