Based on the most recent Fed Survey of Consumer Finances (SCF) –

https://www.federalreserve.gov/econres/scfindex.htm

the median household net worth was ~$122,000, and most of that was the equity in the household’s home. Median financial net worth (financial assets like stocks and bonds less liabilities like credit card and auto debt) was minimal.

A 2022 Fed Survey of Economic Well Being of households revealed that almost 40% of Americans would not be able to meet an unexpected expense of $400 from cash/savings on hand, and that figure goes up to ~60% if we make the expense $1,000.

https://www.federalreserve.gov/publications/2022-economic-well-being-of-us-households-in-2021-dealing-with-unexpected-expenses.htm

The majority of people in the US are literally living paycheck to paycheck – with a social safety net (including things like health insurance, cost of prescription medicine) that is much less generous than many part of developed Europe, or even Canada).