What % of AMerican households could survive losing a paycheck?
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Date: February 16th, 2018 3:21 PM Author: Mind-boggling Brilliant Step-uncle's House
Seventy-eight percent of full-time workers said they live paycheck to paycheck, up from 75 percent last year, according to a recent report from CareerBuilder.
https://www.cnbc.com/2017/08/24/most-americans-live-paycheck-to-paycheck.html
(http://www.autoadmit.com/thread.php?thread_id=3895074&forum_id=2#35418965) |
Date: February 16th, 2018 3:21 PM Author: Mind-boggling Brilliant Step-uncle's House
That's according to a new survey conducted for GOBankingRates. Forty-one percent of men and 56 percent of women say that they are in that kind of precarious financial position. Meanwhile, a total of 61 percent — 52 percent of men and 69 percent of women — report that they don't have enough in an emergency fund to cover six months' worth of expenses.
https://www.cnbc.com/2017/06/29/heres-how-many-americans-are-living-paycheck-to-paycheck.html
(http://www.autoadmit.com/thread.php?thread_id=3895074&forum_id=2#35418969) |
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Date: February 19th, 2018 1:31 PM Author: Vigorous Temple
Date: February 19th, 2018 1:23 PM
Author: Fat Plodding Law Beaver (Veteran of the Psychic Wars)
I am completely shocked that 60% of people have enough in an 'emergency' fund for 6 months of expenses. Even for working class, that's going to be close to $10K. More than half the country is disciplined enough to save that and keep it on ice in the even of emergency? I doubt it.
(http://www.autoadmit.com/thread.php?thread_id=3895074&forum_id=2#35437399)
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Date: February 19th, 2018 1:58 PM Author: Burgundy candlestick maker
I remember I had a check that was lost by a company and I switched payment methods due to the inconvenience - I had previously only used paper checks as payment methods until that event. I got paid like 100 days later when they recognized the error - I didn't even complain.
Got me thinking similarly as well.
This country needs to incentivize saving money.
I remember a great aunt who lived through the depression - she had a regular job (like a sales clerk kind of thing for clothes) - but she had a million dollars in her bank account when she died and never put a dime into the stock market. Between that, social security and owning her 2 unit home, she had a real good standard of living when she retired and until her last day.
I don't know if she went past high school for education but it didn't matter. Through thrift and moderation she was able to afford a lifestyle. That was the American dream as I understood it - a society where if you wanted it, and were willing to make sacrifices, regardless of your station in life, you could have a secure future.
Back in the day, if you saved up $100,000 or so, that could really work for you for the rest of your life because of higher interest rates at the time. If you saved money early and just put it in a bank account back then, compounding would do WAY WAY WAY more for you because of the time advantage and higher compounding rate.
But now? It's LJL when you have 1~2% interest rates.
(http://www.autoadmit.com/thread.php?thread_id=3895074&forum_id=2#35437626) |
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Date: February 19th, 2018 3:14 PM Author: Burgundy candlestick maker
They did, they did.
I think that the "inflation" argument is a catch-all that is convenient.
Buying a long bond when it was paying 15% or so is basically getting a WAY WAY WAY higher return than normal for equities.
(http://www.autoadmit.com/thread.php?thread_id=3895074&forum_id=2#35438138) |
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