As investors face economic uncertainty, financial advisors have guidelines for how much cash they should have set aside. Despite second-quarter economic growth, nearly 60% of Americans wrongly think the U.S. is currently in a recession, according to a June survey of 2,000 adults from Affirm. While Goldman Sachs and JP Morgan raised recession forecasts in August, other experts still expect an economic “soft landing,” meaning the Federal Reserve’s policy won’t cause a downturn. Meanwhile, inflation continues to ease, but a weaker-than-expected jobs report for July triggered stock market volatility last week. Amid the uncertainty, nearly 60% of Americans aren’t comfortable with their level of emergency savings, up from 48% in 2021, according to an annual Bankrate survey that polled more than 1,000 U.S. adults in May. As of the polling, some 27% of those surveyed had no emergency savings — the highest percentage since 2020, Bankrate found. Regardless of the economic climate, investors need emergency savings to cover expenses in the event of a job loss or other…
