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Why Americans Don’t Save
By JLP | April 7, 2006
We all know the numbers. Americans simply aren’t saving enough for their futures. Jeff Brown at the Philadelphia Inquirer wrote about this the other day. He said something in his article about why the problem is as big as it is:
“There are lots of causes. Many working people aren’t making enough to set aside significant amounts. Also, driving a nice car is a status symbol; having a plump IRA is not.”
This is something I have been saying all along. I would be willing to bet that if MOST Americans were to take a serious look at their finances, they COULD find money to invest. Of course, it might require them giving up some of the luxuries they desire, but I’m sure they could find money to invest. The question is: will they do it?
Anyway, the article is a good read. It just emphasizes what personal finance bloggers already know.
Topics: Retirement Planning |


