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Started By
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The Percentage of Americans With Less Than $1,000 in Savings Is Shocking
Posted on 12/20/19 at 5:41 am
Posted on 12/20/19 at 5:41 am
quote:
New data from GOBankingRates, however, reveals that 69% of Americans have less than $1,000 in savings.
quote:
Worse yet, 45% of Americans say they have $0 in savings. That's right -- not so much as a dollar socked away in a bank account.
quote:
Nearly 33% of Americans are living paycheck to paycheck, which explains their glaring lack of savings. Meanwhile, 20% point to a high cost of living as the reason their bank accounts are in such a sorry state.
Full Story
I'm not surprised, partly because I have heard about these figures for quite some time --- and most Americans like "instant gratification." Buy now, worry about it later.
Today's American economy is booming. 3 % unemployment rate. Stock market at an all-time high. And sadly, $1K for savings is not achievable for 69 % of Americans. We're fcuked when the economy goes into the shitter again.
54
Posted on 12/20/19 at 5:43 am to Will Cover
Duck.
UBI incoming.
UBI incoming.
Posted on 12/20/19 at 5:44 am to Will Cover
What are they calling “savings”? Old bank passbook savings accounts are obsolete.
Posted on 12/20/19 at 5:46 am to Will Cover
quote:
Today's American economy is booming. 3 % unemployment rate. Stock market at an all-time high. And sadly, $1K for savings is not achievable for 69 % of Americans. We're fcuked when the economy goes into the shitter again.
And it will be the rich 1% fault when it blows up in their faces too.
Posted on 12/20/19 at 5:46 am to High C
quote:
The Percentage of Americans With Less Than $1,000 in Savings Is Shocking
What are they calling “savings”? Old bank passbook savings accounts are obsolete.
I assume money in the bank. Liquid.
Or even under a mattress, but probably harder to capture in data.
Posted on 12/20/19 at 5:47 am to Volvagia
quote:
And it will be the rich 1% fault when it blows up in their faces too.
Yep. Much easier to blame others than to hold one self accountable.
Posted on 12/20/19 at 6:00 am to Will Cover
I have less than $1000 in savings. I'm OT poor.
Anyone want to donate to change that?
Anyone want to donate to change that?
Posted on 12/20/19 at 6:01 am to sportsaddit68
quote:
I have less than $1000 in savings. I'm OT poor.
How old are you?
Posted on 12/20/19 at 6:03 am to Will Cover
quote:
Shocking
quote:
I'm not surprised
so, which one are you?
Posted on 12/20/19 at 6:06 am to Will Cover
How is it that 69% have less than $1k in savings but only 33% are living paycheck to paycheck? Those 2 categories are basically the same thing
Posted on 12/20/19 at 6:09 am to Will Cover
Irrational people make irrational decisions.
Posted on 12/20/19 at 6:14 am to nola000
quote:
Duck. UBI incoming.
Which won’t change this stat to any meaningful degree. People will just buy more dumb crap.
Posted on 12/20/19 at 6:15 am to Will Cover
Save 10% a pay check and spend less than you make resulted in me retiring at 56yrs old. 
Posted on 12/20/19 at 6:19 am to Armymann50
quote:
Save 10% a pay check and spend less than you make resulted in me retiring at 56yrs old.
Yes cause one size fits all. Everyone is exactly the same
Posted on 12/20/19 at 6:22 am to Will Cover
I wish they would specify if that is the percentage of all Americans (children, disabled, and healthy adults) or just able-bodied adults.
But I 'm not shocked either way. We have several co-workers who have made good salary and benefits for many years, but put little or nothing in retirement accounts and would face financial ruin if they missed one paycheck.
But I 'm not shocked either way. We have several co-workers who have made good salary and benefits for many years, but put little or nothing in retirement accounts and would face financial ruin if they missed one paycheck.
Posted on 12/20/19 at 6:23 am to LSUsuperfresh
quote:
How is it that 69% have less than $1k in savings but only 33% are living paycheck to paycheck? Those 2 categories are basically the same thing
If you’re under 30, you blame boomers. If you’re over 50, you blame millennial entitlement.
If you’re between 30-50, you’re too busy working and paying your bills to give a shite.
Posted on 12/20/19 at 6:25 am to Twenty 49
quote:
But I 'm not shocked either way. We have several co-workers who have made good salary and benefits for many years, but put little or nothing in retirement accounts and would face financial ruin if they missed one paycheck.
I know a guy at my work that does the same job as I do, in a different region, that lives paycheck to paycheck.
But he has a good reason. He’s been married three times.
Ole’ baw just may not be cut out for marriage.
Posted on 12/20/19 at 6:29 am to Twenty 49
quote:
We have several co-workers who have made good salary and benefits for many years, but put little or nothing in retirement accounts and would face financial ruin if they missed one paycheck.
This always total boggles my mind. How do seemingly smart people live like this and do this to themselves? Money stress eats me alive. So yeah, I’ll be boring and conservative (and be able to retire)
Posted on 12/20/19 at 6:29 am to Will Cover
I couldn’t sleep at night if I had less than $1,000 in the bank.
Posted on 12/20/19 at 6:29 am to tigerinthebueche
quote:
If you’re between 30-50, you’re too busy working and paying your bills to give a shite.
I'm 59 and
quote:
too busy working and paying your bills to give a shite
Try again
Also
quote:
If you’re over 50, you blame millennial entitlement
No most of us blame lazy fricks; age is irrelevant
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