What's Happening To Your Money
Ablang
Published: April 13, 2008
People Are Saving Less
* The Commerce Department reports that Americans are saving at the
lowest rate since the Great Depression.
* Personal savings stood at a national level of negative $6.2 million
in January.
* About 40% of Americans say they are saving nothing for retirement.
One reason: Over the past year, inflation rose 4.3% while salaries
rose only 3.4%.
* One in four Americans told the Employee Benefit Research Institute
that they have no savings at all.
Retirement Is Coming Later and Later
* The percentage of Americans 55 or older working full-time increased
from 54.2% in 1993 to 64.4% in 2005.
* Nearly one in four people between 65 and 74 was still in the labor
force in 2006, compared with just one in five in 2000.
* A recent study indicates that 17% of workers have suffered a
reduction of retirement benefits offered by their employers in the
last two years. Of these, only one-third say they are saving more for
their retirement as a result.
Student Debt Is Piling Up
* Tuition costs have climbed 60% since 2000, and the average
graduating senior now owes more than $20,000, according to the
National Center for Education Statistics--twice as much as graduates
owed a decade ago.
* Nearly a quarter of recent grads owe in excess of $25,000.
* While student debt rose 8% from 2005 to 2006, starting salaries rose
only 4%.
http://www.parade.com/articles/editions/2008/edition_04-13-2008/4Whats_Happening_To_Your_Money
Rod Speed
> What's Happening To Your Money
> Published: April 13, 2008
> People Are Saving Less
Easy to claim, hell of a lot harder to actually substantiate that claim.
> * The Commerce Department reports that Americans
> are saving at the lowest rate since the Great Depression.
More fool them.
> * Personal savings stood at a national level of negative $6.2 million in January.
Only if you're actually stupid enough to not count the
main saving most have, the house they are buying.
> * About 40% of Americans say they are saving nothing for retirement.
Pig ignorant lie when you include the main saving most have, the house they are buying.
> One reason: Over the past year, inflation rose 4.3% while salaries rose only 3.4%.
Pity that the house purchase rate continues to increase anyway.
> * One in four Americans told the Employee Benefit
> Research Institute that they have no savings at all.
Only if you're actually stupid enough to not count the
main saving most have, the house they are buying.
> Retirement Is Coming Later and Later
> * The percentage of Americans 55 or older working
> full-time increased from 54.2% in 1993 to 64.4% in 2005.
Because people stay able to work for longer.
> * Nearly one in four people between 65 and 74 was still in
> the labor force in 2006, compared with just one in five in 2000.
Because people stay able to work for longer.
> * A recent study indicates that 17% of workers have suffered a reduction
> of retirement benefits offered by their employers in the last two years.
Pity about their equity in their houses.
> Of these, only one-third say they are saving more for their retirement as a result.
Pity about their equity in their houses.
> Student Debt Is Piling Up
> * Tuition costs have climbed 60% since 2000, and the average graduating
> senior now owes more than $20,000, according to the National Center for
> Education Statistics--twice as much as graduates owed a decade ago.
Its called inflation, cretin.
> * Nearly a quarter of recent grads owe in excess of $25,000.
> * While student debt rose 8% from 2005 to 2006, starting salaries rose only 4%.
Starting salarys aint what matters, fool.
> http://www.parade.com/articles/editions/2008/edition_04-13-2008/4Whats_Happening_To_Your_Money