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Americans Worry About Money Far Too Much

Writing in the Atlantic, author and researcher Arthur C. Brooks says, “Money is one of the things Americans worry about most in the world.”

One survey found that even when the US economy is thriving more than half of Americans felt anxious or insecure about money sometimes, often, or all the time. And during the COVID pandemic, another survey found that workers were almost five times more likely to worry about money than their health.

But many of us really don’t need to worry about money. Only 11 percent of Americans live in poverty. And yet, according to a recent survey, more than half of Millennials with a net worth greater than $1 million feared losing their wealth “a great deal” or “somewhat,” as did more than a third of similarly wealthy Baby Boomers.

Brooks concludes, “For millions of people, then, worrying about money is not a reflection of whether their basic needs are being met. In fact, this anxiety reflects deeper concerns that money can’t solve.”

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