CHART: 47% of Americans Save Nothing

March 26, 2015

Today’s chart is free and open to the public.

Chart of the Day: Daily Investment Trends for the Savvy Investor“Daily Economic/Investment Trends for the Savvy Investor”

47% DON’T SAVE ANYTHING

CHART: Saudi Arabia Is Now The World's Largest Arms Importer

CHART: 47% of Americans Save Nothing

Behold the above grim chart, which highlights one of the most devastating economic trends facing America.

With nearly half of Americans virtually saving nothing, and with a Federal government that continues to take on more financial responsibilities than it can handle, America’s financial future is looking bleak.

Consider some of the shocking statistics that were included in a new report released by the National Institute on Retirement Security:

  • Nearly 40 million working-age households (45 percent) do not own any retirement account assets, whether in an employer-sponsored 401(k) type plan or an IRA.
  • When all households are included — not just households with retirement accounts — the median retirement account balance is $2,500 for all working-age households and $14,500 for near-retirement households.
  • 62 percent of working households age 55-64 have retirement savings less than one times their annual income, which is far below what they will need to maintain their standard of living in retirement.
  • In summary, the report found that the typical American household was “further behind in retirement readiness in 2013 than in 2010 and 2007.”

    It doesn’t take much of an imagination to see how this lack of savings is going to impact America (and future American taxpayers) in the years ahead.

    What about you? Are you saving enough?

    If you need help getting started, you can learn more about our own effective savings strategy here.

    Until tomorrow,
    Jerry Robinson

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    (Courtesy of Finviz.com)


    Investor Wire: Trends to Watch for the Savvy Investor

    • SAUDIS LAUNCH WAR ON YEMEN. Saudi Arabia announced on Wednesday night that it had begun military operations in Yemen, launching airstrikes in coordination with a coalition of 10 nations. (NY Times)
    •  

    • DRIVE FROM LONDON TO NYC?. Russia proposes world’s greatest superhighway. (CNN)
    •  

    • SOLAR USAGE SOARS IN 2014. 2014 was the biggest year for solar power, ever. (Mother Jones)
    •  

    • COSTA RICA GOES “OFF THE GRID”. Costa Rica is running without having to burn a single fossil fuel, and it’s been doing so for 75 straight days. (Quartz)

     

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