Monday, November 10, 2014

Negative 2%

Daily Caller: "Millennials Struggling To Save Despite Economic Upturn."  Ah, yes, the "upturn."
Older Americans are saving at a rate of between 3 and 13 percent, but Americans under 35 are saving about -2 percent, reported The Wall Street Journal, leaving them exposed to unexpected economic downturns and events.
“They are truly a vulnerable group,” Annamaria Lusardi, an economist at George Washington University told the WSJ. “They don’t have assets to buffer themselves against shocks, and they also have to manage debt.”
But interest rates are low and they'll stay low forever.

1 comment:

siacd999 said...

Why save when inflation and the rising cost of goods and services will make your savings negligible?


How can I save when the only job I can get in Obama's economic recovery is so low-paying and the cost of living so high that I don't have money to save?

Most Millenials I know and have spoken to know they can't rely on Social "Security".