Obama Economy: Nearly 7 in 10 Americans have less than $1,000 in savings (gas prices, suspect)
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My father was president of a union in the 60's. Trust me, we were very middle class.
No money hidden, no fancy life style. My brother and I didn't inherit a lot.
As long as stereotypes are being tossed around, We were not italian, not on the east coast.
Actually the product my dad's union made were used on the NASA Apollo projects and for the war in vietnam. So there was lots of government involvement in the business. And the back ground check my father went thorough was unbelievable. Bad Unions leaders would of never made it in this business.
Obama rightfully gets blamed for many things, but people not saving shouldn't be one of them. To get a real picture of savings they should look at not just savings accounts but also IRA and 401K savings, but either way if someone won't put 1 or 2% of their take home away for savings it's not Obamas fault. And yes, there are people who honestly can't save that, but certainly no where near 70% of people CAN'T put something away for savings. Cutting out a few trips to Starbucks would accomplish that if they were willing to.
Absolutely. I have mentioned Starbucks before myself. Those spending $5 a day during the work week for coffee could cut that out and have a $160 set aside every month. Bring your lunch to work and eat out on Fridays.
I know a couple of people who are always whining about money, but anytime they have a little it's spent on things they don't need. An example one of them showed me a popcorn maker they ordered off Amazon, they have shared some of their financial difficulties and I am thinking what on earth do you need a popcorn maker for? It's called a microwave, you already have one of those. These are items you do without out.
Also every time so new device comes out you see people standing in line waiting for it. You don't need a $400 phone.
Don't blame Obama for being unable to put some money aside.
Fifty years ago, one could get 5% on passbook savings.
Why would anybody keep cash in a bank?
I keep my money in the bank in case I ever need it for emergencies. I want to always have $10-$15k in the bank in case I need it so I can quickly go and get it via a branch. I have had to use it to repair a vehicle or to pay for treatment for a sick pet at the vet.
Personal Savings Rate, though, answers a different question, since it is a ratio of personal income saved to net disposable income. As disposable income decreases, the ratio can increase significantly without actual savings going up. (This is reflected by the enormous variability from 2008 to 2013.)
Also, large income high savers can create big swings, when the original survey is more addressing low income low savers.
What do you whine about? Havent you supported the super rich and their puppets for decades? The so-called "job creators"? As long as you continue to hate the concept of unions and a government that invests in the quality of the life of the people, you get what you deserve.
So people that own and run businesses and hire people AREN'T job creators?
The gen x and millennials are "owed" a secure future because they got the short end of the stick... Thanks Obozo.
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