For many Americans, achieving financial security can become a big goal, especially amid a high cost of living, where achieving major milestones like home ownership, assets, savings, and a comfortable retirement have become an uphill battle.

A recent study, developed by the Aspen Institute, revealed that three out of four Americans cannot cope with financial problems or difficulties, since they do not have what they have called “essential wealth”, which is a net savings of at least six weeks' salary.

According to the research, only 29% of the people interviewed over the age of 60 meet these essential wealth criteria, this being the population with the highest level compared to other generations, who are not managing to reach the necessary threshold to achieve lasting financial security.

In this regard, Steven Brown, director of knowledge and evidence at the Aspen Financial Institute, commented that, currently, “most people feel like they can't get ahead and that they don't have enough,” he said.

This trend has led to a general feeling of frustration about the financial future and, although the economy has shown resilience, many factors continue to affect it, such as, for example, the low pace of hiring and the high prices of many goods that do not match current incomes.

Although, for Brown, “wealth is not only a material issue, it also provides peace of mind and the ability to make decisions and choices.” According to the analysis, focusing more on accumulated wealth than on income will give a clearer perspective on what can or cannot be achieved financially in the future.