34% of Delawareans Have Almost NO Savings to Cover Emergencies for Save for the Future

Jan 30, 2013 -- 7:00am

One in three Delaware residents are living on the edge of financial disaster with almost no savings to fall back on in the event of a job loss, health crisis or other income-depleting emergency. That’s according to a report released today by the Corporation for Enterprise Development. 

The 2013 Assets & Opportunity Scorecard defines these residents as “liquid asset poor,” which means they lack adequate savings to cover basic expenses at the federal poverty level for just three months if they suffer a loss of stable income. Included in this group are a majority of Delaware residents who live below the official income poverty line of $23,050 for a family of four, as well as many who would consider themselves middle class.

Delaware ranks 22nd in the country overall in the ability of residents to achieve financial security. You can access the complete scorecard by going to the link on our website.

To view the complete report: http://assetsandopportunity.org/scorecard

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George Noory

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