Bloomberg is out with a troubling new report today about a survey suggesting that a third of Americans making at least $250,000 annually are living paycheck-to-paycheck:

More from Bloomberg:

Some 36% of households taking in nearly four times the median US salary devote nearly all of their income to household expenses, according to a survey by industry publication and LendingClub Corp.

It’s particularly true among millennials, who are now in their mid-20s to early 40s: More than half of top earners in that generation report having little left at the end of the month.

The $250,000-plus income bracket roughly represents the top 5% of earners in the country, according to US Census Bureau data.

We totally get that pretty much everything is significantly more expensive these days (thanks again for that, Joe Biden!), but we’re really not clear on how such a large chunk of the top 5% of earners in this country are living “paycheck-to-paycheck.”


Those are great points.

What is amiss would appear to be the understanding of what it means to live paycheck-to-paycheck.

This is just a bizarre article.

And on top of everything else, Bloomberg has effectively erased Gen X..

The Lost Generation.