Living on the edge, being dragged down by debt, and having little hope for the future is no way to live.
But that is precisely where most Americans find themselves in 2019. Despite a supposedly “booming economy”, the middle class continues to shrink and most of the country is barely scraping by from month to month. In fact, a brand new survey that was just released by Charles Schwab discovered that 59 percent of all Americans are currently living paycheck to paycheck…
Overall, 59 percent of Americans live paycheck to paycheck, according to the survey of 1,000 U.S. adults by Charles Schwab.
However, the Millennial generation (people ages 23-38) was the most likely to struggle in between payday, at 62 percent, followed by Generation X (60 percent), Generation Z (55 percent) and Baby Boomers (53 percent).
I realize that those numbers look really high, but this is really where we are at as a society.
In fact, a study that was just conducted by researchers at the University of Chicago found that 51 percent of all “working adults” would not be able to cover basic necessities “if they missed more than one paycheck”…
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.
So when the next recession strikes, millions of Americans that suddenly lose their jobs could find themselves facing financial disaster almost immediately.
FOLLOW THE LINK FOR THE FULL REPORT – JR