American’s financial lives explained in 29 charts

money

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.

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Your guide to offshore banks that may be right for you

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.

 

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How long will you need to save for a down payment on a home in your city?

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.

 

 

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Baby Boomers Face Uncertainty, Fear Outliving Their Retirement Savings

baby boomers

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.

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46% of Americans Suffer From Debt-Related Stress According to Survey

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Debt still stresses Americans.

The economy trudges ahead yet debt dogs many Americans, stressing them out even as they firm up their own financial foundations. There are new jobs produced but old worries persisting for people despite belt-tightening and boosted savings, according to an Associated Press-GfK poll.

 

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Entrepreneurs Using 401(k) Savings to Start Businesses

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Michael Amstein unlocked $100,000 from his 401(k) to start a cookie shop

Don Poffenroth paged through a magazine on a flight several years ago when an article grabbed his attention: Entrepreneurs could use 401(k) savings to start a business without getting hit by taxes and early-withdrawal penalties.

 

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