Highlights From the FINRA Foundation National Financial Capability Study
Financial Capability in the United States
The proportion of respondents with three months of emergency funds varies greatly by income and
education levels. Among those with household incomes of $75,000 or more, 75 percent reported having
emergency funds, compared to only 28 percent among those with incomes of less than $25,000. Similarly,
while 72 percent of college graduates reported setting aside rainy day funds, only 49 percent of those with
some college and 38 percent of those with no college reported doing so.
Have set aside three months' worth of emergency funds
By income
<$25K
28%
$25-75K
$75K+
51%
75%
By education
HS or less
38%
Some college
49%
College or more
72%
Differences in the prevalence of retirement accounts by income and education are even starker. Eighty-
three percent of non-retired respondents with incomes of $75,000 or more reported having some kind of
retirement account, either employer-based (such as a 401(k) or pension) or independent (such as an IRA),
compared to just 18 percent of those in the lowest income group. Among college graduates, more than
three-quarters (78 percent) reported having a retirement account, compared to only a third of those with no
college.
Have any type of retirement account
(among non-retired respondents)
By income
By education
<$25K 18%
HS or less
33%
$25-75K
55%
Some college
53%
$75K+
83%
College or more
78%
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Highlights From the FINRA Foundation National Financial Capability StudyView entire presentation