Study upon study shows that the American people are increasingly saving little or nothing in response to government policies.
If you save anything in modern America, you are an utter fool. Near-zero interest rates, Social Security and Medicare incentivize Americans to save nothing.
“About 1 in 4 literally have no emergency savings. A survey released Tuesday by Bankrate.com found that 24% don’t have even a single dollar saved for an emergency.”
“A survey released in January by Bankrate found that nearly 60% of Americans wouldn’t have enough savings to pay for a $500 expense if it came up unexpectedly.”
While government officials increasingly live like kings, with extravagant pensions and savings plans, “more than half of Americans will be broke when we retire, according to a survey from GoBankingRates.com.”