1/29/2015 – For Many U.S. Families, Financial Disaster is Just One Setback Away (The Wall Street Journal)

Jan 29, 2015 Comments Off by

American families have made big strides repairing their balance sheets from the economic crash, but their finances remain disturbingly vulnerable to emergencies—a major obstacle to economic mobility, a new report says. About 70% of U.S. households are struggling with at least one of three problems with their balance sheets—low incomes, insufficient savings or debt, according to an analysis of government data by the Pew Charitable Trusts on Thursday.More than one-third of households face two or even three of the problems simultaneously, compounding their insecurity.That most U.S. families aren’t secure enough to weather a financial storm matters because when a storm comes, it could wipe away their chances to accumulate wealth, prepare for retirement and generally improve their living standards.

Read the full article at The Wall Street Journal.

Financial Landing 2015

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