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Report Finds Adults with Disabilities Face Numerous Financial Challenges

December 11, 2017
Source: National Disability Institute (NDI)

National Disability Institute (NDI) released a new report, Financial Capability of Adults with Disabilities: Findings from the FINRA Investor Education Foundation National Financial Capability Study. The report finds that, in the 27 years since the landmark Americans with Disabilities Act (ADA) was signed into law, ensuring all individuals with disabilities the opportunity to achieve “economic self-sufficiency,” this population still faces numerous challenges and roadblocks to achieving financial inclusion and independence.

Based on data mined from the 2015 FINRA Investor Education Foundation National Financial Capability Study, this report highlights the impact of financial stress on adults with disabilities.

The report findings provide insight on the financial challenges of Americans with disabilities:

  • Among adults ages 18-64, one in nine have a disability and, of those, one in three are employed.
  • People with disabilities are twice as likely to have income less than $35,000, leading to a high rate of skipped medical treatments compared to those without disabilities (46 percent vs. 25 percent).
  • People with disabilities are three times more likely to have extreme difficulty paying bills.
  • Fifty-five percent of people with disabilities reported that they could not come up with $2,000 for an emergency, compared to 22 percent of those without a disability.
  • Compared to people without disabilities, those with disabilities are more likely to be late on mortgage payments (31 percent vs. 14 percent), overdraw checking accounts (31 percent vs. 18 percent) and take loans from retirement accounts (23 percent vs. 10 percent).

National Disability Institute released the report during a press conference at the National Press Club in Washington, D.C. Report co-authors and researchers, Nanette Goodman and Bonnie O'Day, presented the report highlights.

Link: Go to website for News Source
https://www.realeconomicimpact.org/pages/finra-2017


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