EXCLUSIVE: Savings Crisis Looms As One-Third Of Americans Face Dwindling Nest Eggs In Just Three Months, Poll Reveals

Federal Reserve Chair Jerome Powell's recent comments regarding selling assets to make ends meet may be more relevant than ever for many Americans.

What Happened: Almost a third of Americans have less savings now than they did three months ago, while 23% say they have less in investments, according to the Benzinga and Dig Insights Economic Sentiment tracker.

The poll also revealed that 8% of respondents said they previously had savings but had to use it in the last 90 days, while 9% said they never had any savings, and 25% said they have more savings than they did three months ago.

When it comes to investments, 5% of respondents said they sold all of their investments in the last 90 days, and 26% said they never had any investments. Thirty-one percent of respondents said they have about the same amount invested, and 16% said they have more invested now than three months ago.

Benzinga’s insights suggest that many Americans may be struggling to build up their savings and investment portfolios amid the uncertain economic environment.

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While personal income increased by $72.9 billion (0.3%) in February, according to data issued by the Bureau of Economic Analysis in March, many Americans are still finding it challenging to save money.

It should be noted that the increase in current-dollar personal income in February was led by an increase in compensation, mainly from wages and salaries. The $27.9 billion increase in current-dollar personal consumption expenditures (PCE) reflected an increase of $25.8 billion in spending for services and an increase of $2.0 billion in spending for goods.

The Benzinga and Dig Insights poll provides valuable insights into personal finance challenges, and indicates that many Americans are facing potential issues regarding finance in the near future.

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