Tag: precautionary savings
State auto-IRA initiatives provide coverage to workers without an employer-sponsored retirement plan. These workers tend to have lower incomes and often have limited savings to cope with emergency expenses…
Without such a buffer, it’s pretty hard to save for retirement. Despite a strong economic recovery, about 40 percent of households in 2017 still said they would have trouble paying for a $400 unexpected expense. A recent study from the Center for Retirement Research uses data from two Federal Reserve surveys – the Survey of…