The oncoming disaster in public pensions: The $4 trillion retirement savings deficit and the bill of payouts for pensioners.
Americans have done a very poor job saving for retirement. In many cases, families simply have very little left over each month to save after monthly expenses chomp away at their net take home pay. Pensions used to be common. In 1975 you had 88 percent of private sector workers and 98 percent of state […]
Only 4 out of 10 Americans has enough in their savings to pay for an unexpected expense: Half of the country is living paycheck to paycheck with no retirement plans.
There is little motivation to save when your local bank is offering close to zero percent on your savings account. And most Americans simply do not invest in the stock market. When it comes to saving money it is crucial to get into the habit of putting funds away for unforeseen events and expenses. Life […]
Planning for retirement does not happen overnight. You need to diligently plan and sock away savings like a squirrel stocking up for the season. Many Americans have no retirement savings and more troubling, many near retirement face a compressed timeline where they will need to save or face a massive decline in living standards in […]
How many Americans live paycheck to paycheck? A nation living precariously close to the financial edge.
The fuel that drives our economy is spending. There are few nations that rival our ability to spend. We spend with the gusto of a shop-a-holic. The assumption is that we simply have the money lying around to spend at this level. That is simply not the case since most Americans are flat broke by […]
Arrested economic development: 36 percent of Millennials living at home delaying financial adulthood. Less than one-third of Millennials employed.
Young Americans are living at home in record numbers. Millennials are living at home for much longer because of the poor economic conditions for the young. Think about the perfect storm of financial pain for young Americans. College costs are astronomical and many are going into massive debt to pursue a college education. If not, […]
The epic crisis in retirement savings: Vast majority of Americans unprepared for retirement. Median retirement savings for those 25 to 34? Zero dollars.
If actions are a method of gauging interests Americans have little desire or ability to prepare for retirement. In fact, the amount of money saved for retirement is absolutely shocking on the low side. When you mention that the American per capita wage is $26,000 people seem shocked. This figure doesn’t coincide with the spend […]
The banking system’s methodical way of punishing savers: How punishing savers is encouraging a low savings rate and high levels of debt.
Would you be motivated to save money if your rate of return was 0 percent? That is the situation facing many Americans looking to put their hard earned dollars into the current banking system. Underlying the zero percent stated rate however is the reality that the real rate is closer to negative three percent given […]