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47% of American households save nothing
Business Insider ^ | 03/25/2015 | Shane Ferro

Posted on 04/08/2015 1:48:29 PM PDT by SeekAndFind

This could be the scariest chart in the world, from Deutsche Bank's Torsten Sløk. Nearly half of American households don't save any of their money.

If it it isn't obvious, this has a broad range of implications. People who don't save won't have any buffer should the economy turn and they lose their jobs. Longer term, people who don't save won't have the capacity to retire.

It's not good.

(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy; Society
KEYWORDS: economy; households; savings
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To: SeekAndFind

Graphs like this with no further explanation or analysis are just plain stupid.

My 93-year old mother is a zero-saver. Like many folks in retirement, she is depleting her savings. That’s what folks do in retirement. You build up a nest egg, then responsibly live off of it. What percentage of US households are in this category?

People live off of savings and accumulate debt all the time - people between jobs, people with health issues, those attending college and trade schools. This is not necessarily a bad thing and many times it’s just a temporary thing.

So basically this chart is fairly meaningless as a stand alone chart.


21 posted on 04/08/2015 3:20:23 PM PDT by ConstantSkeptic (Be careful about preconceptions)
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To: Opinionated Blowhard

not only that, the gimmiedats
don’t even have to file paperwork. Everything is given to them.


22 posted on 04/08/2015 3:22:09 PM PDT by The_Media_never_lie (The media must be defeated any way it can be done.)
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To: lone star annie

“Give me the good old days when you got CDs that paid 8%!”

I remember the early ‘80s when savings rates were in the teens. Having a savings account back then paid like a part-time job.

Of course, I wasn’t trying to buy a house (and borrow money to do it).


23 posted on 04/08/2015 3:29:03 PM PDT by moovova
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To: moovova

I had a 13% mortgage back then.
Thankfully not for long.


24 posted on 04/08/2015 3:31:16 PM PDT by nascarnation (Impeach, convict, deport)
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To: SeekAndFind

Romney was right about that too?


25 posted on 04/08/2015 3:32:51 PM PDT by x
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To: x

Yes he was, but the majority don’t want to accept the truth.


26 posted on 04/08/2015 3:35:15 PM PDT by SeekAndFind
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To: SeekAndFind
A better survey would be...what percentage of that 47% had anything left after expenses to put into savings?

If it takes all you make to just get by...

27 posted on 04/08/2015 3:53:53 PM PDT by philman_36 (Pride breakfasted with plenty, dined with poverty and supped with infamy. Benjamin Franklin)
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To: SeekAndFind

It’s that damned 47% again.

Saving raises your capital relative to just consuming. But, if you have a government guaranteed annuity, that is your capital... why lower your consumption to save what would only amount to a a fraction of your capitalized government benefits?


28 posted on 04/08/2015 4:01:24 PM PDT by Pearls Before Swine
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To: Blood of Tyrants
My son is one of the worst.

He needs a talk with Dad, but I'm sure you've already tried that.

29 posted on 04/08/2015 4:02:39 PM PDT by Pearls Before Swine
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To: Pearls Before Swine

Yep, he is 32 and as thick headed as he was at 17. Every year I try to advise him to put half of the money in a savings account as an emergency fund but he refuses.


30 posted on 04/08/2015 4:12:52 PM PDT by Blood of Tyrants (True followers of Christ emulate Christ. True followers of Mohammed emulate Mohammed.)
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To: Blood of Tyrants

Eh, what can you do—maybe he takes after an uncle on your wife’s side. Kids are often very different from the parents and from each other.


31 posted on 04/08/2015 4:17:03 PM PDT by Pearls Before Swine
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To: Blood of Tyrants

Don’t co-sign anything for him that you don’t want to end up paying for.


32 posted on 04/08/2015 4:28:25 PM PDT by PLMerite (Shut the Beyotch Down! Burn, baby, burn!)
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To: Blood of Tyrants
T Coleman Andrews already addressed this


“The income tax is bad because it was conceived in class hatred, is an instrument of vengeance and plays right into the hands of the communists. It employs the vicious communist principle of taking from each according to his accumulation of the fruits of his labor and giving to others according to their needs, regardless of whether those needs are the result of indolence or lack of pride, self-respect, personal dignity or other attributes of men.” “The income tax is fulfilling the Marxist prophecy that the surest way to destroy a capitalist society is by steeply graduated taxes on income and heavy levies upon the estates of people when they die.”  (see communist goals)  “As matters now stand, if our children make the most of their capabilities and training, they will have to give most of it to the tax collector and so become slaves of the government. People cannot pull themselves up by the bootstraps anymore because the tax collector gets the boots and the straps as well.” 

33 posted on 04/08/2015 4:29:11 PM PDT by Cowman
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To: nascarnation

My wife’s friend has a family income of about $25,000 for a family of four. She doesn’t work, and the husband completed trade school, but won’t seek better employment. They get the usual dollop of government goodies each month and always complain about how tight money is.

I fumed a couple of years ago when she mentioned they purchased a $5,000 camera with their $12,000 tax refund due to education credits, etc. They were eating at our house and complaining, so I asked how they got so much when they didn’t pay any in. They ended up leaving pretty quickly and didn’t come over again, although my wife maintained the friendship.


34 posted on 04/08/2015 5:00:09 PM PDT by Dexter Morgan (Everyone hides who they are.)
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To: PLMerite

Duh. He lives in his MIL’s house and stiffs her for the rent regularly.


35 posted on 04/08/2015 5:15:13 PM PDT by Blood of Tyrants (True followers of Christ emulate Christ. True followers of Mohammed emulate Mohammed.)
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To: Cowman

Yep, we became slaves when the government decided that it had first dibs on our paycheck.


36 posted on 04/08/2015 5:16:42 PM PDT by Blood of Tyrants (True followers of Christ emulate Christ. True followers of Mohammed emulate Mohammed.)
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To: lone star annie
Good for you. Rule of thumb I was taught in the Reagan years, is pay yourself first.

And if you start doing it while in your early 20s, it will make a HUGE difference at retirement time, compared to waiting until your 30s.

37 posted on 04/08/2015 5:19:35 PM PDT by dfwgator
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To: SeekAndFind
I don't believe this article.

Basically everybody who works is contributing money into their Social Security Account. This is money that the government puts in a "lock-box" somewhere so that it is available when people retire.

Everything will be just fine.

38 posted on 04/08/2015 5:33:39 PM PDT by William Tell
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To: SeekAndFind

Half the population are gimedats, half don’t save....strange coincidence. sarc/


39 posted on 04/08/2015 5:53:39 PM PDT by mikefive (RLTW)
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To: SeekAndFind
Heavy Hitters: Top All-Time Donors, 1989-2014
http://www.opensecrets.org/orgs/list.php
“2 American Fedn of State, County & Municipal Employees $60,949,129 [Democrat] 81% [Republican] 1%”

Leviathan (Uncle Sam employs more people than you think)
National Review ^ | 02/03/2011 | Iain Murray
"...nearly 40 million Americans employed in some way by government."

About "70 million" people are receiving good incomes but are also steeped in debt and can't borrow more for big ticket items (see groups above).

When they're laid off (a certainty with the inevitable default and repudiation ahead), they'll riot. They'll turn out to be the real zombies after all. Government security offices know that and have been preparing for it.


40 posted on 04/08/2015 7:23:31 PM PDT by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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