Here are 3 of the biggest reasons you'll need a substantial stash of savings in retirement

Group 1 - The importance of cash savings for retirees is highlighted, as it provides a buffer against unplanned expenses and market fluctuations [3][4] - Social Security benefits average $1,976 per month, which may not cover all expenses, making cash savings essential for handling unexpected costs [4] - Wealthfront offers a Cash Account with a base variable APY of 3.50%, and new clients can receive a total APY of 4.15% for the first three months, significantly higher than the national deposit savings rate [5][6] Group 2 - Retirees face unplanned expenses similar to workers, necessitating an emergency fund to avoid debt [7]