73M Americans Have Less Than One Week Worth Of Income Protection

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73M Americans Have Less Than One Week Worth Of Income Protection
Leroy_Skalstad / Pixabay

An estimated 72.7 million American adults, or roughly 28.7% would survive just a week or less if they were to lose their job tomorrow.  This is alarming since according to investment firm Vanguard, Americans should have at least three to six months emergency living expenses saved up. An estimated 10.8 million (4.3%) have income protection. Approximately 186.7 million (73.5%) have enough to stay afloat for up to 6 months.

We looked across generationally and found that Baby Boomers were most prepared in regards to income protection, with 6.8 million (7.5%) reporting protection for their total population vs GenXers 3.2 million (3.6%) and Millennials 1.7 million (2.3%).

You will find the full report showcasing data here: https://www.finder.com/living-paycheck-to-paycheck

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