Resilience is the capacity to recover quickly from the difficulties. Financial resilience is the ability to withstand life events that impact one’s income and/or assets. Some financially stressful events, such as unemployment, divorce, disability, and health problems affect people individually. Others, such as recessions, stock market downturns, and acts of terrorism, affect society as a whole. Financial resilience is how quickly one can come out from these set backs. Financial resiliency is enhanced with financial resources, such as savings, health insurance, and a good-paying job. Another resource is one’s human capital.
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