In the second survey sponsored by Allstate Financial, called the "Life Tracks" poll, researchers found 41 percent of those polled indicated they have no savings at the end of each month. An additional 8 percent indicated they do not earn enough to pay for essentials, the company said in a news release.
"Too many Americans are faced with financial challenges today that lead to an unstable future," Allstate Financial President and Chief Financial Officer Don Civgin said.
In the survey conducted in late December, only 46 percent of those earning $50,000 per year or less indicated they have a retirement plan. Conversely, 89 percent of those with $75,000 or more in earnings per year indicated they were working towards building up a retirement nest egg.
Education also made a difference. Among college graduates, 32 percent indicated they were living from paycheck to paycheck while 48 percent of those without a college degree indicated they were broke before the next paycheck arrived.
The survey was conducted Dec. 15-19 and polled 1,000 adults. It had a margin of error of 3.1 percentage points.