Wince of the Week August 5 – 11, 2012
The EHRP Team winced hard when we read this in Bonnie Kavoussi’s article for the Huffington Post:
Nearly one in two Americans — 46 percent — die “with virtually no financial assets,” or less than $10,000, according to a recent study by economics professors at MIT, Dartmouth and Harvard. In fact, 19 percent of Americans die with “zero” financial assets, the study found.
The study found that many of these people with modest assets rely “almost entirely” on Social Security benefits to survive, own no housing property, and are in poor health. People with zero financial assets and an annuity income of less than $30,000 were in the bottom health quartile before they died, while those in households with financial assets of at least $25,000 and an annuity income of $30,000 to $40,000 were in the 43rd health percentile before they died, according to the study.
- An excerpt from Bonnie Kavoussi’s article for the Huffington Post, Nearly Half Of Americans Die Without Money, Study Finds