The Expense Nearly Half of Americans Think Can Bankrupt Them

You've surely heard you should stash money away in a rainy day fund for any unexpected expenses. Whether you lose your job, the refrigerator breaks, or your kid gets hurt at soccer practice, it's important to keep a few thousand dollars in the bank, just in case the unexpected happens.

While all those costs could dent your budget, there's one expense that nearly half of Americans are worried will bankrupt them: healthcare.

Around 45% of Americans said a major health-related expense could potentially lead to bankruptcy, according to a Gallup poll. Healthcare expenses can break the bank at any age, but they're especially detrimental to older Americans -- retirees in particular.

Not only are older adults more susceptible to health issues, but retirees usually live on a fixed income. And going bankrupt from healthcare costs is even more likely for the 42% of baby boomers who have nothing at all saved for retirement, according to an Insured Retirement Institute survey.

Read more at the Motley Fool