Author Topic: Most Americans have less than $1,000 in savings  (Read 3054 times)

Syonyk

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Most Americans have less than $1,000 in savings
« on: December 24, 2015, 01:39:31 PM »
And over 20% donít even have a savings account.

http://www.marketwatch.com/story/most-americans-have-less-than-1000-in-savings-2015-10-06

Forget just millenials. :(  It's everyone.

In other news, Christmas retail volumes have been down.  A lot.  Please, spend money you don't have to save our economy!

**sigh**

Jack

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Re: Most Americans have less than $1,000 in savings
« Reply #1 on: December 24, 2015, 02:29:38 PM »
Articles like this are fucking stupid. Of course people don't have savings accounts! Why would you? They're not paying any better interest than checking accounts (at least at the "giant monster mega banks"), so having one is pointless -- just leave your money in your checking account instead.

Of course, then an article comes along screaming "oh noes! nobody has lots of money in their checking accounts!" Of course they don't; that'd be stupid! They should invest the money, not just "save" it.

Then there are the articles bemoaning the fact that lots of people have small 401k balances. Well that's because they rolled it over into an IRA, dumbasses! My 401k only has $16K in it. What do you expect -- it's only been open 3 months!!!

If you want to write an article about how consumer suckers have no assets, then do a study with the correct methodology to prove that claim instead of looking at little bits and pieces in isolation!

In other news, "journalists" have no goddamn critical thinking skills anymore.

JLee

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Re: Most Americans have less than $1,000 in savings
« Reply #2 on: December 24, 2015, 03:23:06 PM »
I don't have a savings account.

I do have over $2800/mo going into retirement accounts.  What's the problem?

abhe8

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Re: Most Americans have less than $1,000 in savings
« Reply #3 on: December 24, 2015, 07:57:37 PM »
No savings account here either. And no EF... And if/when I have a big expense, I cash flow it by saving lees that month. Oh the horrors. I agree... What a stupid article.

arebelspy

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Re: Most Americans have less than $1,000 in savings
« Reply #4 on: December 25, 2015, 07:24:00 AM »
And over 20% donít even have a savings account.

I would be in that category.

As a FIRE'd individual with plenty.

+1 to Jack's comments.
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gimp

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Re: Most Americans have less than $1,000 in savings
« Reply #5 on: December 26, 2015, 08:49:13 PM »
I don't even know what the message of these articles is supposed to be.

Is it that americans are all poor now? Because of scary conservatives? Or because of anti-business liberals? Because of unions? Or because we disbanded unions? Who are we blaming this time?

Is it that americans are all idiots? They don't know about savings accounts? Bad education? Bad education because of [pick your political party]? Or because they spend too much? Is everything too commercialized? Are they only buying cheap chinese junk, which is why the economy is bad?

Is it student loans? Is it mortgage problems from 2008?

Is it a cry against social security? For the need of social security? Alarmist crap about retirement? Really important news about retirement?

WHAT DO YOU WANT ME TO BE AFRAID OF, NEWS ARTICLE?