ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -An uncertain economy is affecting how Americans are able to save for emergencies. Nearly half (49 percent) of U.S. adults have less savings (39 percent) or no savings (10 percent) compared to a year ago, according to a new Bankrate survey.

Detailed explanation-2: -Around 55% of Americans say they’re behind on saving for retirement, a recent Bankrate survey found. In many ways, that makes sense.

Detailed explanation-3: -As a matter of fact, a growing percentage of Americans have no savings either, and so this feeling is quite common for many. In addition to the stressful feelings of having no savings, if you are starting from scratch, the idea of building a solid financial future might seem daunting.

Detailed explanation-4: -A far better indicator of retirement readiness is how much you have saved for retirement, and according to research by Ramsey Solutions, 48% of Americans have less than $10, 000 saved for retirement. How much an employee contributes is over 45 times more important than what they’re investing in.