Emergency Funds Become Increasingly Important In Retirement

Emergency Funds Become Increasingly Important In Retirement by Elliott Hollander

If your car broke down or you had an unexpected visit to the hospital, would you have the money to cover the expense? If you answered no, you're not alone. According to a recent report, many Americans would have trouble coming up with the money to pay for a $1,000 emergency, and this is true across all income levels.

The majority of households earning less than $50,000 would have trouble paying the unexpected bill, whereas two-thirds of those earning between $50,000 and $100,000 would have difficultly. Even 38% of households earning more than $100,000 year would have at least some trouble coming up with $1,000. This means a lot of Americans...