Financial Fragility Among Middle-Income Households: Evidence Beyond Asset Building
This paper explores the determinants of financial fragility of American middle-income households ($50,000–75,000 annually). It analyzes the socioeconomic characteristics of fragile middle-income households (defined as unable to come up with $2,000 in a month). It focuses on family size, debt levels, degree of financial literacy and the ability of these households to plan for retirement.