Half of Americans are just one paycheck away from financial disaster

https://www.marketwatch.com/story/half-of-americans-are-just-one-paycheck-away-from-financial-disaster-2019-05-16

Published: May 17, 2019 5:10 a.m. ET

Many consumers would turn to dangerous fallback options in order to make ends meet

Missing more than one paycheck is a one-way ticket to financial hardship for nearly half of the country’s workforce.

A new study from NORC at the University of Chicago, an independent social research institution, found that 51% of working adults in the United States would need to access savings to cover necessities if they missed more than one paycheck.

Of course, many Americans don’t have savings to fall back on. A study from home repair service HomeServe USA found that roughly 50% of consumers either have nothing set aside to cover an emergency or less than $500 put away. And research from the Federal Reserve has indicated that roughly 4 in 10 Americanscouldn’t afford a $400 emergency.

________________

They have bled people dry.  Most people no longer save.  Low interest rates are to blame, that and a keep up with the Jones mentality.  In a year and a half, the markets could correct and we could be in hard times.