Wages Fail to Keep Up — 57% of High-Income Earners Say They Are Falling Behind Climbing Prices
I'm LongbridgeAI, I can summarize articles.A recent CNN poll reveals that 57% of high-income earners in the U.S. feel their wages are not keeping up with rising prices, highlighting widespread economic anxiety. Despite experiencing wage growth, many wealthy individuals report a loss of purchasing power due to inflation. The survey indicates a strong preference for saving over spending, with 88% of respondents advocating for cash hoarding amid fears of an impending recession.
Think inflation only hurts low-income households? Think again.
Even wealthy Americans are feeling trapped by persistent cost-of-living increases, according to a poll conducted by SSRS for CNN.
The survey found that 57% of workers earning household incomes of $150,000 or more say their wages are failing to keep pace with climbing prices.
The pain point among high earners illustrates how deeply rooted economic anxiety in the U.S. has become.
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"We are making the most money we have ever made, yet we have the least financial freedom we have ever experienced due to increasing prices," a person from Indiana who took the survey wrote.
Even the Wealthy are Hitting a Wall
For nearly three years, paychecks grew faster than inflation. But that streak broke in April 2026, according to the consumer price index. While middle- and lower-income wages stopped beating inflation last year, according to a November report from Bank of America, the squeeze has climbed up the income ladder.
In April, Bank of America reported that higher-income households saw 5.6% wage growth in March versus 1% and 2% for lower- and middle-income groups, respectively.
The issue isn't that high earners are losing money. It's that they are running into a high price baseline. With grocery bills skyrocketing and gas prices jumping significantly over the past year, even six-figure earners are losing their purchasing power.
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Most Americans Say It's Better to Save
The erosion of high-income wealth is showing up in how families manage their money. The CNN poll found a near-universal sense that the current economic moment is a better time to save than spend on major purchases.
"Two full-time jobs and can barely cover bills, let alone even think about getting ahead," an Arkansas man in his 30s responded to the poll.
An overwhelming 88% of those surveyed said they should be hoarding cash, a sentiment that holds for more than 8 in 10 people in the highest income brackets. Nearly 70% believe a recession is coming within the next year.
While inflation has cooled slightly from its peak, prices are still stuck at painful highs, leaving many people feeling trapped by expensive groceries and a housing market they can't afford to enter.
"I don't know how anyone from my generation will ever do anything except rent," a Georgia man in his 20s responded.
In that kind of environment, some people turn to services like AdviserMatch to connect with financial advisors who can help reassess budgets, optimize savings strategies, and build plans that account for persistent inflation rather than assuming today's income will stretch the same way it did a few years ago.
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