Unexpected expenses take 10% of retirees' income, on average, research shows — many don't have enough cash on hand - CNBC

Research shows that unexpected expenses take, on average, 10% of retirees' income, and many retirees do not have enough cash on hand. A $700,000 stock portfolio can lose $146,000 in five days, highlighting the need for cash reserves among seniors. Retirees are facing a steady stream of financial shocks, which can strain senior homeowners.