I'm skeptical but willing to believe 56% of people can't find $1k on the spot in fiat cash because of the structure of their wealth. However statistically _most_ households have a hundred times over that in net wealth. Carefully reading the study, it becomes apparent the vast majority are able to alter the composition of their wealth or future spending to accommodate the expense. 59% were going to pay outright (if you add in the 15% that said they would pay and cut their budget), and if you add in people like me that would let it sit on credit to let some real value inflate away, it goes up to 79% who would pay it outright either by debiting from their fiat stockpiles or credit card. Only 4% actually needed to take out a personal loan, and only 10% would resort to family. Factor in that probably 14% of adults are 25 or younger or in school, and it starts to become apparent that the overwhelming majority of adults can afford a $1k expense.

> I'm skeptical but willing to believe 56% of people can't find $1k on the spot in fiat cash because of the structure of their wealth.

It's not too far fetched.

1. Buy a house in the 80s when they were like 60k-80k.

2. Work a normal'ish non-tech full time job where you make 35k / year.

3. Fail to pay off your original mortgage over 20-30 years and end up getting a 2nd mortgage.

4. Pay your current mortgage, property taxes and other bills every month.

Pretty sure anyone who is single in this position would have nothing left over per month and be living an extremely tight lifestyle with not much to spare a few days before their next pay check.

Throw in a couple of bad decisions over the decades and you could have no savings too. Something tells me a decent percent of 55-70 year old folks fall into this category.