Individuals die with a median debt of $62,000, and nearly half of them die practically broke. Maurie Backman writes on The Motley Idiot:

“In a current GoBankingRates examine, 69% of adults admitted to having lower than $1,000 within the financial institution, whereas 34% mentioned they really don’t have any financial savings in any respect. However apparently, this collective lack of financial savings doesn’t get all that a lot better with age. A examine by the Nationwide Bureau of Financial Analysis discovered not so way back that just about half of Individuals die practically broke. Of the overall inhabitants, 46% of retirees die with financial savings of $10,000 or much less. However that quantity climbs to 57% amongst retirees who’re single.”

“The issue is that dying practically broke isn’t only a matter of denying one’s beneficiaries an inheritance. Reasonably, it factors to a daunting diploma of monetary vulnerability throughout retirement. If seniors are passing with out a lot in the way in which of property, it implies that within the years main as much as their dying, they’re sick outfitted to deal with a serious surprising expense, comparable to a major medical invoice.”