Understanding how to manage, invest, and grow your money is critical for moving from the middle to upper middle classes.
An emergency fund is crucial because medical problems and house repairs can derail financial goals and savings, making it harder to create wealth and advance.
Another major barrier to Americans transitioning from the middle to upper middle classes is a frequent mismatch between talents and jobs.
Debt of all kinds is preventing Americans from rising from the middle to upper middle classes.
It's not simply our personal debt that's holding us back. It's also, in certain cases, the debts of individuals we care for, or the debts that caregiving can cause.
Inflation has now caught up to wage growth, but this has taken years, and many middle-class Americans are still playing catch-up.
Higher education costs may be regarded as even more depressing now that student loan repayments have resumed following a years-long hiatus imposed at the outbreak of the pandemic.
Healthcare prices are slamming Americans of all income levels, but the middle class bears the brunt of the burden.
Tax policies that disproportionately harm middle-income individuals can likewise be an obstacle to achieving financial security.