It’s no surprise that everything is more expensive these days. (Tickets to the World Series are the most expensive of all time.) But per a new Bank of America analysis, it’s worse than you might think—even for those who supposedly count as rich.
Owing to ballooning basic expenses and, in many cases, the cost of maintaining an expensive home, one in five households earning at least $150,000 a year are currently living paycheck to paycheck, the bank wrote in an October note, based on spending data and account information among U.S.-based customers. (Paycheck to paycheck, by BofA’s definition, means spending over 95% of income on necessities like food, electric bills, childcare, and rent.)
