re: The Percentage of Americans With Less Than $1,000 in Savings Is Shocking

quote:

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I would be living in a constant panic attack if I had less than $1,000 to my name

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I agree with you, i feel the same.. just to be clear though, i’d bet the majority of posters here have ‘less than $1000 to their name’.. what i mean is when you add up what you owe on your home, plus student loans, plus any car payments you might have and what you owe on them, etc- i would wager that the majority of folks here owe more than what they have in the bank, or in assets... Not all of course; most of us have maybe tens of thousands in savings, another couple hundred thousand (maybe) in a 401k.. but maybe you still owe $150k on your house , $50k on your boat etc.. how many people, after factoring in all that, have a positive net worth? I do, but only because i recently sold my house for a profit.. as soon as i buy again, i’ll have a negative net worth.. unless i buy a tiny house or something, i suppose.