Study: 40 percent of Ill. residents lack sufficient savings
(MCT) — More than 40 percent of Illinois residents lack adequate savings to cover basic expenses for three months if they suffer a loss of income, according to a new report from the Corporation for Enterprise Development.
Data released Wednesday by the advocate for low- and moderate-income households shows that 42 percent of Illinois residents live in "liquid asset poverty," meaning they don't have enough cash or other such quickly accessible assets as bank, investment and retirement accounts.
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