Author Topic: Americans Saving Less But Are More Confident of Retirement  (Read 3381 times)

Bicycle_B

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Americans Saving Less But Are More Confident of Retirement
« on: March 22, 2016, 11:38:03 AM »
"Are we crazy?" asks Bloomberg:

http://www.bloomberg.com/news/articles/2016-03-22/fewer-of-us-save-more-are-confident-of-retirement-are-we-crazy

Apparently 4% of America has bristly mustaches: "Four percent of respondents said they actually managed to save 50% of their income last year." 

Lots of other stats in there, too, including a graph on how much savings people think they need to retire.  Looks like maybe Mustachians are middle of the pack there.  But a third of people didn't save anything at all. 

What do you think, gang?
« Last Edit: March 22, 2016, 12:20:37 PM by Bicycle_B »

Gone Fishing

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Re: Americans Saving Less But Are More Confident of Retirement
« Reply #1 on: March 22, 2016, 01:54:24 PM »
Many are planning to eat cat food, but even then, they are making a big financial mistake considering pig food is much cheaper...
« Last Edit: March 22, 2016, 02:24:41 PM by So Close »

JLee

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Re: Americans Saving Less But Are More Confident of Retirement
« Reply #2 on: March 22, 2016, 01:55:58 PM »
I'm really surprised that 4% saved 50% of their income. That seems incredibly high.

ImCheap

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Re: Americans Saving Less But Are More Confident of Retirement
« Reply #3 on: March 22, 2016, 02:18:58 PM »
Quote
Those who have actually tried to calculate how much they need set higher goals. This year, 31 percent of workers who have made that effort figured they needed at least $1 million for retirement.

Wonder what the other 69% are thinking?


mm1970

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Re: Americans Saving Less But Are More Confident of Retirement
« Reply #4 on: March 22, 2016, 02:27:25 PM »
I have no idea how much we saved last year.

onlykelsey

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Re: Americans Saving Less But Are More Confident of Retirement
« Reply #5 on: March 22, 2016, 02:32:46 PM »
I have no idea how much we saved last year.

Ditto.  I use mint and personalcapital to tell me what my networth went up, but if you asked me cold I'd have to guess.

There's something to be said with coming up with a plan that's good enough and executing it, I think.  Of course reevaluate at some point, but not all the time.

obstinate

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Re: Americans Saving Less But Are More Confident of Retirement
« Reply #6 on: March 22, 2016, 11:26:32 PM »
I'm really surprised that 4% saved 50% of their income. That seems incredibly high.
That's what they guessed they saved. I doubt most went back to check.

gimp

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Re: Americans Saving Less But Are More Confident of Retirement
« Reply #7 on: March 23, 2016, 12:21:24 AM »
If 4% of americans are saving 50% or more of their income, we should start advertising this forum!