Get a newer and safer vehicle while saving money! Check out the AARP auto buying program.
by William Shiflett, Catherine Harvey, July 29, 2016
Liquid Savings of Working Households Ages 50-64 (PDF)
Financial assets, not just income, are essential to economic security. Liquid assets, such as money in a bank account that is readily accessible, can keep households from falling into a harmful cycle of debt when they encounter unexpected events like car trouble or a job loss. Financial shocks like these are very common: in one study, 60 percent of households faced an expense or loss of income in the past 12 months for which they did not budget.
Among those in the labor force, older households are more likely than younger households to have some minimal level of liquid savings in a formal account, such as a checking or savings account. However, more than a third of pre-retirees—defined as households with members in the workforce who are between the ages of 50 and 64—have less than $2,000 in liquid savings. Low-income households are not the only ones that struggle to save; significant shares of middle-income pre-retirees also lack liquid savings. Black and Latino pre-retirees typically have lower liquid savings levels than White pre-retirees with similar incomes.
Please leave your comment below.
You must be logged in to leave a comment.
Find the public policy institute content you are looking for by entering in search terms below.
Sign up for alerts on the latest research, events and videos on policy issues.
A State Scorecard on Long-Term Services and Supports for Older Adults, People with Physical Disabilities, and Family Caregivers
By 2030, one out of every five people in the United State will be 65-plus. Will your community be ready?
You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits.
Your email address is now confirmed.
Manage your email preferences and tell us which topics interest you so that we can prioritize the information you receive.
Explore all that AARP has to offer.
In the next 24 hours, you will receive an email to confirm your subscription to receive emails
related to AARP volunteering. Once you confirm that subscription, you will regularly
receive communications related to AARP volunteering. In the meantime, please feel free
to search for ways to make a difference in your community at