(NewsNation) — 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 intelligence and uncertainty introduced by the new tariffs announced this year by the Trump administration.

The Empower study is based on an online survey of 2,202 Americans aged 18 and over and was administered between June 3 and 5, 2025. The full results can be found here.