Pepperdine’s Brandon Parsons Offers Insight on Rising Financial Insecurity in Fortune
Pepperdine Graziadio faculty member Brandon Parsons is featured in a new Fortune article examining why many Americans continue to feel financially insecure despite strong economic performance.
According to a recent Bankrate survey, 77% of Americans report feeling financially unstable—an increase from last year. More than a quarter of respondents said they would need at least $150,000 annually to feel secure, far exceeding the national median income of $62,000.
Parsons attributes much of this sentiment to the lasting effects of inflation. “We experienced some of the highest inflation levels since the 1970s, and this shock has led to some of the perceptions of a higher cost of living, whether exaggerated or not,” he told Fortune.
He explains that while wages have risen, so have the costs of essentials like housing and transportation—factors that continue to shape public perceptions of financial stability.
The article also highlights psychological influences, such as lifestyle creep, which may be driving expectations alongside economic realities.
Read more here.