What would happen if you were faced with a completely unforeseen expense and you had to come up with $2,000 – or even $10,000 – to cover it?
Could you find the money – without having to borrow, beg, or sell something?
Half the workers and retirees in this country say no, they couldn’t get their hands on even $2,000 in the next 30 days, without going into debt or being forced to sell something.
Would you have to rob your retirement fund? Considering that the average household has only $25,000 saved up – which is supposed to last them the rest of their lives – this would be devastating.
Even the typical household within 10 years of retirement has only $111,000 in savings – barely enough to provide an income of $500 per month! That’s about what the typical retiree spends just on food, according to the U.S. Bureau of Labor Statistics.