Thursday, November 21, 2019

31% have 6-plus months of money put aside for emergencies

31% have 6-plus months of money put aside for emergencies31% have 6-plus months of money put aside for emergenciesWhile research has found that 46% of Americans think they wont have enough money for retirement, new Bankrate data shows that almost a third have at least six months worth of money put aside for emergencies, at 31%.Princeton Survey Research Associates International surveyed 1,003 adults living in the continental United States for Bankrates Financial Security Index.How much money Americans have for emergenciesHeres the breakdown (the numbers are rounded, so they dont total 100%).6+ months 31%3 to 5 months 17% 3 months 20%None 24%Other 7%Almost a third have enough for at least six months- this isreportedly the highest percentage of people with this amount that Bankrate has ever recorded (since 2011).Bankrates Financial Security Index- which tracks how Americans are doing in terms of comfort with savings, comfort with debt, net worth, job security and overall financial sit uation - is now the best its ever been.With values that are more than 100 showing that financial security is increasing, this number was 103.2 in June 2016, and 106.7 in June 2017.How much money each generation has put asideAlmost 40% of Baby Boomers have at least six months worth of money for emergencies- heres how other generations fared6+ months 23% of millennials, 38% of Baby Boomers3 to 5 months 27% of millennials, 11% of Baby Boomers 3 months 22% of millennials, 15% of Baby BoomersNone 25% of millennials, 27% of Baby BoomersOther 3% of millennials, 9% of Baby Boomers

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