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Imperfectly consistent, then, at least with a small data set. Not much room to argue that the postwar boom was over by 1973-4 and had declined from the mid-1960s. Some indexes show otherwise, but not the big picture.
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According to Federal Reserve data from a few years ago, the savings rate even among the "next 9%", which is the highest income earners, excluding the top 1%, is only 12% in aggregate.
I wouldn't argue. Surprised it's even that high since 2008 or so.
I had a boss who was Mormon and was curious about the food storage thing so he brought some in to show me. It was a big silver foil bag of wheat.
If I had wheat to work with I'd probably starve anyway.
There are lots of other options besides that. Evangelical Christians Like Jim Bakker have stuff that looks more appealing. Hate him if you want, but this is a good idea:
Imperfectly consistent, then, at least with a small data set. Not much room to argue that the postwar boom was over by 1973-4 and had declined from the mid-1960s. Some indexes show otherwise, but not the big picture.
That doesn't mean people can't save. We lost discipline just when we needed it most. I think the biggest thing that hurt people financially is our 40% out of wedlock birth rate. That's a disaster. And even liberal researchers are admitting it. When you do stuff like have kids outside of marriage, it makes you more financially vulnerable, less able to bargain for better wages, etc. and/or become dependent on government welfare programs.
I wouldn't argue. Surprised it's even that high since 2008 or so.
They can do a lot better. The top 10% income level starts at $133k per year. I saved more than 12% for years and made less than half that amount in a high cost area.
No, but if both real income and perceived income are dropping or flat, and cost of living is going up, even those with discretionary income are less likely to save. None of these things exists in a vacuum.
There are lots of other options besides that. Evangelical Christians Like Jim Bakker have stuff that looks more appealing. Hate him if you want, but this is a good idea:
In California I'd say at least 50% of us are participating in a retirement plan.
It is unclear why they assume people are not saving with the numerous options available. Some will save it in their mattress, some 401k, some none and rely on pensions, some in gold or silver purchased (we have friends going this route) some with other types of retirement accounts, independently buying stocks/ bonds/real estate, and many utilizing a combination of these savings vehicles. Also some folks will be set utilizing just their inheritance
To try to figure out something so personal as to how much a person has saved for retirement is almost impossible.
Choose just one vehicle, the MOST outdated savings vehicle, to base your findings on makes no sense
Last edited by DaddyLongLeg; 02-05-2018 at 12:10 AM..
I unfortunately have a cable system that exposes me to religious kooks like Bakker who peddles the "end of days" scenario.
...? You've either lost the remote or have unbelievably basic cable.
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