About 34.5 million U.S. households fall short of the necessary baseline for ‘essential wealth.’
Three in four Americans lack sufficient age-based income to handle unexpected financial setbacks and reach major life milestones, according to a report from The Aspen Institute.
The research introduces the concept of “essential wealth,” defined as having six weeks of take-home pay in cash savings combined with a net worth high enough to secure homeownership and retirement readiness.
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