As Disability Insurance Awareness Month continues to roll out, the Council for Disability Awareness points out that:
- Less than 20 percent of millennials have more than $5,000 in emergency savings.
- College-educated millennials face the highest student loan burden of any generation – according to Edvisors, the average 2015 graduate faced a whopping $35,000 of debt.
- In a recent CDA study, 40 percent of millennials said they would consider disability insurance if they knew more about it.
- In that same study, more than a third of millennials said they couldn’t last three months without their income.
What's perhaps even scarier is that this is far from limited to millenials:
"47 percent of Americans "can’t pay for an unexpected $400 expense through savings or credit cards, without selling something or borrowing money."
That's a minor fender bender or medical procedure, let alone a major wreck or cancer. And if you can't pay for that, where are the groceries and rent coming from?
Something to think about.
"47 percent of Americans "can’t pay for an unexpected $400 expense through savings or credit cards, without selling something or borrowing money."
That's a minor fender bender or medical procedure, let alone a major wreck or cancer. And if you can't pay for that, where are the groceries and rent coming from?
Something to think about.
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