Tag: financial shocks

The brief’s key findings are: About 40 percent of households, spanning the income spectrum, say that they couldn’t cover a $400 unexpected expense. In fact, some of these households actually do have enough to cover this modest expense, but they feel constrained by credit card debt. Overall, the analysis finds that the vulnerable households fa…

Abstract Although health and employment shocks are fairly common at older ages and often derail retirement savings plans, Social Security’s disability insurance, spouse and survivor benefits, and progressive benefit formula may provide important protections. By contrast, traditional employer-sponsored pension benefits may be especially vulnerable to health and employment shocks immediately before benefit take-up, because pension…