FINRA report

1 In 4 Older Adults Can’t Come Up With $2,000

Posted on 06/3/2013 by |Money and Work | Comments

Bulletin Today | Money & SavingsThe deep recession ended four years ago, but the financial fallout remains for many older Americans. Some are so strapped that if an unexpected expense like a  major car or house repair arose in the next month, more than 1 in 4 adults age 55 or older couldn’t muster $2,000 to pay for it. Tapping into their home equity for financial help isn’t an option for 1 in 12 in that age group. They owe more on their home than …