The new tool was created in response to the numerous news reports and research papers citing a dire lack of rainy day savings among average Americans.
Tag: emergency savings
The term “sidecar savings accounts” has been introduced into the retirement industry’s lexicon, and new legislation has been introduced to allow employers to auto enroll employees into them.
Expenses are cited as the main reason why they are failing to save anything, Bankrate.com found in a survey
Many may need to set up an emergency fund or pay off debt first.