A shocking percentage of people earning more than $300,000 live paycheck to paycheck. Why these wealthy people burn through cash.

Making much wealth tin lick a batch of fiscal problems — if you negociate it wisely, that is.

Results from a Goldman Sachs GS survey recovered that households earning much than $300,000, who are successful astir the apical 5% of earners, reported higher rates of surviving paycheck to paycheck than galore who earned less.

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The stock of households earning $50,000 to $100,000 — a radical that includes the median household earning $84,000 — who said they were surviving paycheck to paycheck was 36%.

Yet the complaint was an adjacent higher 41% of those earning $300,000 to $500,000. For those earning much than $500,000, the complaint was 40%, according to the Goldman Sachs poll.

In different words, supra a definite level, much income really accrued the likelihood of respondents feeling financially stretched. The survey defined surviving paycheck to paycheck arsenic uncovering “it pugnacious to marque advancement connected immoderate semipermanent fiscal goals.”

The radical with the lowest complaint (16%) of surviving paycheck to paycheck was households earning $200,000 to $300,000. They marque up astir the 90th to 95th percentile of households by income. This radical was besides the astir apt to accidental they were “able to marque advancement connected some short-term and semipermanent fiscal goals.”

The findings successful Goldman Sachs’s probe situation Gen Z-ers’ wide held content that it takes an yearly income of much than $500,000 to beryllium “financially successful,” arsenic MarketWatch antecedently reported. These households are, successful fact, little apt to consciousness they are making advancement connected some short-term and semipermanent fiscal goals than those who gain less.

The results besides adhd nuance to the information that the apical 10% of American households by income, who gain astatine slightest $250,000, are down fractional of each user spending. They suggest that galore members of this radical consciousness their depletion habits marque it hard to fulfill their ain fiscal ambitions.

Read more: Generation Z thinks it needs $500,000 a twelvemonth to succeed. What that says astir our economy.

To beryllium sure, radical who gain overmuch little than mean incomes are much apt to study having occupation getting by connected their incomes. Households earning little than $50,000, who are astir the lowest 30% of earners, reported the highest complaint of paycheck-to-paycheck living, astatine 57%.

Respondents successful the $200,000 to $300,000 income bracket aren’t “necessarily ‘optimal’ spenders comparative to different groups,” said Chris Ceder, a elder status strategist astatine Goldman Sachs Asset Management.