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Saving among Low-Income Women: Motivation and Obstacles
by Helen Levy and Kristin S. Seefeldt
WP 2008-199
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- Women with low incomes wish they could save - primarily for protection against the unexpected or to put children through college - but most of them cannot.
- Friends and family surface as a major obstacle to saving, since those who have liquid assets are asked for help.
- When savings is feasible in this population, it occurs largely through relatively inaccessible vehicles such as pensions and 401Ks.
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