This post is by Alan Kennedy from Visual Capitalist

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The following content is sponsored by Lloyd's Register Foundation

How Long Can People Cover Their Needs Without Income?

With nearly half of people under 34 worldwide unable to cover their needs for a month or less without income, it is no surprise that financial resiliency is a hot topic. So, for this graphic, Visual Capitalist has partnered with Lloyd’s Register Foundation to explore economic resilience further and determine how long the average person can afford to cover their needs without income.

World Risk Poll 2024 Report: Economic Resilience

Lloyd’s Register Foundation produces the World Risk Poll every two years in partnership with Gallup, and the World Risk Poll 2024 report explores the everyday risks of 147,000 people from 142 nations. They asked respondents how long they could afford to cover basic needs, such as food, transport, and shelter, if they lost all income.  Here’s what they found: 
Age GroupLess than a monthAround a monthTwo monthsThree monthsFour months or more
15 to 2440%10%12%10%20%
25 to 3439%9%13%10%24%
35 to 4938%9%13%10%25%
50 to 6432%8%16%11%29%
The results reveal a distinct trend across all age groups, with respondents typically falling into two categories: those with one (Read more…)