Yes, you still need an emergency fund in retirement. Here’s how much you should have.

Those expenses can be a significant source of financial stress, particularly for vulnerable groups, including lower-income households, Black and Hispanic households, single women and widowed retirees.“Unexpected expenses do not go away once people retire,” the authors wrote, calling them a real and persistent risk for retired households.The typical retired household spends about 10% of income on unexpected expenses in a normal year, Rao and Chen found. Yet 40% of retirees lack the cash to cover even one yea ...