How much money you make and how you spend that money plays a huge part in what your life looks like.
What makes us unique? Well, we like to think lots of things make us unique: where we’re from, how we were raised, our tastes, our education. But for better or worse, how much money you make and how you spend that money also play huge parts in dictating what your life looks like. Vox presents 29 charts below showing how Americans earn and spend money, from childhood through their golden years.
Savings rates vary by income.
Americans as a whole don’t save a lot of money. The latest 2014 savings statistics shows that the average American only saves ~4% of their income a year. In other words, it takes the average American 25 years to save just one year’s worth of living expenses.
Continue reading… “The average savings rates by income in the U.S.”
Is there a retirement saving crisis in the U.S.? A study recently released by the National Institute on Retirement Security shows we are in bad shape. Retirement saving is dangerously low especially for people without retirement accounts. Let’s take a look at the data.
Continue reading… “Do we have a retirement savings crisis in America?”
The retirement financial guys think we have a retirement saving crisis. A study recently released by the National Institute on Retirement Security shows that we are in bad shape. Retirement saving is dangerously low especially for folks without retirement accounts. Let’s take a look at the data.
Continue reading… “Is there a retirement saving crisis?”
The number of offshore banks where savers can keep their money and receive good rates is dwindling.
People trying to save are having a tough time at the moment. It is very difficult to get a real return on savings because of low interest rates and relatively high inflation. And there’s still the question of safety: the banking crisis which left millions of savers worrying about the security of their banks was only a few years ago.
The average down payment for a house is 20%.
How long will it take you to save in order to afford a home? We calculated how many years it takes to save enough for a down payment in the 100 largest U.S. metro areas, factoring in both local average wages from the Bureau of Labor Statistics’s Quarterly Census of Employment and Wages and local housing prices based on the median asking price per square foot of homes listed on Trulia.
Continue reading… “How long will you need to save for a down payment on a home in your city?”
42% of all Americans live paycheck to paycheck.
Almost half of American workers report that they usually or always live paycheck to paycheck to make ends meet. But finances of many workers are improving from just a year ago. (Infographic)
Continue reading… “42% of all Americans live paycheck to paycheck”
Many baby boomers fear they have not saved enough and will run out of money during their retirement.
Nearly half of baby boomers face so much uncertainty that they fear that their retirement will result in poverty, according to a new study by California-based investment advisers Financial Engines.
Continue reading… “Baby Boomers Face Uncertainty, Fear Outliving Their Retirement Savings”
By delving into the futuring techniques of Futurist Thomas Frey, you’ll embark on an enlightening journey.
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