I’ve posted about Americans’ dismal state of finances before, but this news shocked even me.
Today, Bankrate.com released the results of its June Financial Security Index survey that 24% of Americans — 1 in every 4 Americans — don’t have even a single dollar saved for an emergency.
According to the U.S. Census Bureau, the population of the United States is 325.277 million. 24% of Americans = 78.07 million.
What will these 78 million Americans, who don’t have even $1 in savings, do when their welfare and Social Security checks stop?
Some more Bankrate survey findings:
- As many as 27% of Baby Boomers— those born between 1946 and 1964 who are 53 to 71 years old — don’t have even a dollar in savings.
- Only 31% of Americans — fewer than 1 in every 3 Americans — havewhat’s considered an adequate savings cushion: enough to cover…
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