The Dangerous State of Americans' Savings

More than half of American households have less than one month of income available in readily accessible savings to use in case of an emergency, a new report from the Pew Charitable Trusts finds.

Many financial advisers recommend that families have a savings account holding three to six months’ income, in case of a job loss or an unexpected major expense. But regardless of income level, the report found, most Americans lack the recommended level of savings.

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