Survey: Most middle-income Americans lack funds for serious illness

05/8/2013 | Financial Advisor online

Only 1 in 10 middle-income Americans feel financially secure enough to handle the cost of a major illness or family emergency, according to a survey by the Washington National Institute for Wellness Solutions. Three-quarters of respondents said they have saved less than $20,000, with 25% having no savings, according to the survey. Nearly 90% said they haven't discussed care-giving options with a financial adviser or loved ones, and 60% haven't sought advice about planning for a serious illness, the survey found.

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