DIAM '16: Week 2 Factoids

Monday, May 9, 2016
As Disability Insurance Awareness Month continues to roll out, the Council for Disability Awareness points out that: 

  • Less than 20 percent of millennials have more than $5,000 in emergency savings.
  • College-educated millennials face the highest student loan burden of any generation – according to Edvisors, the average 2015 graduate faced a whopping $35,000 of debt.
  • In a recent CDA study, 40 percent of millennials said they would consider disability insurance if they knew more about it.
  • In that same study, more than a third of millennials said they couldn’t last three months without their income.
What's perhaps even scarier is that this is far from limited to millenials:

"47 percent of Americans "can’t pay for an unexpected $400 expense through savings or credit cards, without selling something or borrowing money."

That's a minor fender bender or medical procedure, let alone a major wreck or cancer. And if you can't pay for that, where are the groceries and rent coming from?

Something to think about.