A third of Americans lack an emergency savings fund, while 29% could not afford an unexpected expense over $400, according to a new survey from retirement plan provider Empower.

The survey also found the median emergency savings for Americans is $500.

A majority of respondents to the survey, 63%, said the rising cost of living has made it more difficult to build and maintain emergency funds, with over half (58%) describing saving for emergencies as "almost impossible" in the current economic climate.

In addition, half of Americans (50%) said they were stressed about their current amount of emergency savings, and 42% said their savings wouldn't help if they lost their job, an increasing fear given the perceived sluggishness of the U.S. labor market, the continued rise of artificial intel

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