America may very well be stuck in a K-shaped economy, with those at the top growing wealthier, while those at the bottom of the K find their spending power shrinking every year. It can make it feel hard to achieve the stereotypical middle-class lifestyle of modest homeownership, a decent job and some retirement savings.
A Pew Research study found about 51% of Americans were living in middle-class households in 2023, down from 61% in 1971. READ MORE