Key facts
- A survey of over 30,000 Americans found that the rising cost of living is the primary obstacle to achieving a better life.
- Sixty percent of respondents desire greater financial security, often defined as the ability to afford necessities and save for the future.
- Forty percent of Americans described themselves as financially vulnerable or struggling to meet basic needs.
- Groceries were identified as the top cost-of-living concern by 90% of survey participants.
- A majority of respondents believe government is responsible for helping people get ahead, though only 30% found government institutions helpful.
- Friends and family were ranked as the most helpful group in assisting people to get ahead.
A survey of over 30,000 adults across the United States indicates that the rising cost of living is the most significant barrier preventing Americans from achieving a better life. Conducted by the McKinsey Institute for Economic Mobility and the WK Kellogg Foundation in mid-April, the survey found that 60% of respondents desire greater financial security, which they often define as the ability to afford basic necessities without worry and save for the future.
Many Americans feel this goal is out of reach, with 40% describing themselves as either financially vulnerable or struggling to meet basic needs. The escalating costs of groceries, housing, transportation, and healthcare are primary concerns. Specifically, 90% of respondents identified grocery and food costs as their top cost-of-living worry.
While Americans largely agree on affordability as a key challenge, their specific needs vary. Rural respondents emphasized the need for better jobs and career paths, whereas urban respondents prioritized affordable housing and improved safety. The survey also highlighted a significant gap in perceived support: a majority (60%) believe government should help people get ahead, but only 30% found government institutions to be helpful. In contrast, friends and family were ranked as the most supportive group, followed by employers.
The research also found that strong community connectedness is a key indicator of a positive outlook. Respondents who felt strongly connected to their communities were more than twice as likely to feel in control of their lives and nearly four times as likely to report their lives had momentum. However, only one-third of respondents reported experiencing this strong sense of community.