Shocking: 24% Americans don’t have even one dollar in emergency savings

Fellowship of the Minds

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 olddon’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…

View original post 184 more words

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