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24% of Americans don't have single dollar saved for emergency...

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About 1 in 4 literally have no emergency savings. A survey released Tuesday by Bankrate.com found that 24% don’t have even a single dollar saved for an emergency. And that’s just one of many surveys showing how little we have saved: A survey released in January by Bankrate found that nearly 60% of Americans wouldn’t have enough savings to pay for a $500 expense if it came up unexpectedly. What’s more, more than one in five say they’d slap down their credit card to pay that expense and more than one in would mooch off family to get the cash. Experts recommend that Americans have a least three to six months of income in the bank to pay for unexpected emergencies.

We are more worried about paying for our next vacation than about saving enough for retirement. That’s the finding of a study released this week by COUNTRY Financial, in which Americans report being more concerned about affording that vaca vacations (36%) than having adequate retirement savings (32%). That may explain, in part, why more than half of Americans will be broke when we retire,


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