Good morning friends of Care and Share!
We found a great article in the Washington Post, The remarkably high odds you’ll be poor at some point in your life, that we would like to share.
The article features the findings of Mark Rank, a sociologist at Washington University. Rank and his colleagues have been studying the economic fortunes of several thousand families in the longest running longitudinal survey in America. The study covers a 43 year time period: 1968-1911.
Although we highly encourage you to take a look at the entire article, here are some key findings:
- By the time they’re 60 years old, nearly four in five people experience some kind of economic hardship. This means that by age 60, nearly 80% of us will have gone through a financially tough time
So what does all of this mean? Rank has found that “A lot of people tend to experience a year or two of economic insecurity, then get back on their feet, then maybe experience another year down the road,”