A quarter of wealthy Americans describe themselves as ‘very poor’ or ‘poor’ – despite earning over $175,000, a new survey has revealed. 

The salary should be enough to put workers in the top 10 percent of US tax filers yet 25 percent said they felt they were ‘getting by but just getting by.’

And half described themselves as just ‘comfortable’ rather than ‘rich’ or ‘very rich,’ according to Bloomberg which surveyed over 1,000 Americans earning the salary. 

The findings lay bare the impact of inflation and higher interest rates on the nation’s wealthiest. 

Inflation in the US has ticked up to a 3.2 percent annual rate – rising slightly in July from June’s 3 percent annual increase – and the cost of many essential expenses including cars, rent and groceries remains stubbornly high.

A quarter of wealthy Americans describe themselves as 'very poor' or 'poor', a new survey has revealed

A quarter of wealthy Americans describe themselves as 'very poor' or 'poor', a new survey has revealed

A quarter of wealthy Americans describe themselves as ‘very poor’ or ‘poor’, a new survey has revealed

Inflation in the US has ticked up to a 3.2 percent annual rate - rising slightly in July from June's 3 percent annual increase

Inflation in the US has ticked up to a 3.2 percent annual rate - rising slightly in July from June's 3 percent annual increase

Inflation in the US has ticked up to a 3.2 percent annual rate – rising slightly in July from June’s 3 percent annual increase

Over half of respondents said they worry about money – while 25 percent said they do not think they will be better off financially than their parents. 

The survey found many wealthy Americans had also considered moving to different parts of the country – joining the pandemic exodus from expensive cities to areas with a more affordable cost of living and lower taxes.

The average annual earnings in the US is $75,203, according to data from the Census Bureau.

Bloomberg found, however, that over half of respondents with a net worth of $500,000 felt like they were ‘getting by’, and even some millionaires still described themselves as ‘poor’. 

Meanwhile some Americans with a net worth of over $5 million still described themselves as ‘very poor’, ‘poor’ or ‘getting by’.

It comes weeks after a separate study found the average American thinks they would need to earn $233,000 in order to feel financially secure.

But to feel rich or to attain financial freedom, they believe they would need more than double this – some $483,000 a year – according to a July report from Bankrate

Some 72 percent of those surveyed said they did not feel secure when it comes to money – with the majority blaming an uncertain economy for this. 

Some 63 percent pointed to high inflation, and 36 percent of people blamed rising interest rates.

The average American thinks they would need to earn $233,000 in order to feel financially secure

The average American thinks they would need to earn $233,000 in order to feel financially secure

The average American thinks they would need to earn $233,000 in order to feel financially secure

After pausing interest rate rises for the first time in 15 months in June, the central bank made the unanimous decision to raise rates again in July – taking benchmark borrowing costs to the highest level in more than two decades. 

‘Structural or long-term changes have been injurious to Americans’ ability to manage their personal finances,’ said Mark Hamrick, senior economic analyst at Bankrate. 

‘Where there was a time in the US when a married couple, with children, could get by with a single-wage earner in the house, those days are mostly vestiges of the past.’

The study found that women say they will need slightly more than men in order to feel financially secure – and to feel wealthy. 

Women feel they would need to earn $502,400 a year to feel rich, while $465,300 is the salary men said they would need – some eight percent lower. 

In order to feel comfortable, women think they would need an average salary of $237,400 versus $229,100 for men. 

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