Why so many Americans in the middle class have no savings
New data from the Federal Reserve points to the fragile state of American households, confirming our Rise & Fall of the Middle Class and Cash-Strapped Consumer investing themes in the process.
Most American households did slightly better economically in 2015 than 2014, according to a recent survey by the Federal Reserve; 69 percent said they were living comfortably or doing OK, up from 65 percent. But 31 percent said they were either struggling to get by or just getting by, a figure that includes millions of middle-class Americans.
The median income in America is somewhere around $50,000. So a middle-class existence was more than two times as great as the median income. And what that tells you is that the face of financial fragility is the face of the college-educated, as well as those without a high school diploma.
Source: Why so many Americans in the middle class have no savings | PBS NewsHour
