Average American savings

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Brent S

Brent S

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Oct 10, 2013
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South East US
I just read that 70% of Americans have 1000$ Or less in their savings account and 45% have ZERO saved. That’s really sad. It shows to me that most are instant gratification motivated and don’t think or plan for the future.
I looked at some of the Black Friday and cyber Monday ads and quickly realized that most of the stuff they were selling was pure junk. I guess I’m one of the few that don’t see consumerism as a good thing.
 
US dollars may soon be worth less than the ink used to print them, so saving fiat money may not be the best way to preserve your wealth. Venezuela, which we will soon be emulating if Brent gets his wish, had something like a million percent inflation rate. After a million percent inflation, the dollar would be worth one ten thousandth of a pre-inflation dollar.
Got $100,000 saved up? Congratulations, you have enough money saved up to buy a cup of coffee.
 
Brent S said:
I just read that 70% of Americans have 1000$ Or less in their savings account and 45% have ZERO saved. That’s really sad. It shows to me that most are instant gratification motivated and don’t think or plan for the future.
I looked at some of the Black Friday and cyber Monday ads and quickly realized that most of the stuff they were selling was pure junk. I guess I’m one of the few that don’t see consumerism as a good thing.
Click to expand...

I think that we must also recognise that many people in low paid jobs have nothing left to save each month.
 
Comparing Venezuela's economy is like comparing the budget for Bobs Surplus Store in Podunk MI to Walmart's. It's always cracked me up how economy-expert preppers like you try to justify "financial collapse" by comparing the US economy to that of say, Greece or Spain. There is no comparison and those like yourself only enjoy fear mongering and trying to tone off as some sort of economy expert when the truth is you have no idea what you're talking about.

Want to know the truth about the US economy? It's only as good as it is today because Trump rode the recovery wave Obama started 8 years ago. Prove me wrong.

DrHenley said:
US dollars may soon be worth less than the ink used to print them, so saving fiat money may not be the best way to preserve your wealth. Venezuela, which we will soon be emulating if Brent gets his wish, had something like a million percent inflation rate. After a million percent inflation, the dollar would be worth one ten thousandth of a pre-inflation dollar.
Got $100,000 saved up? Congratulations, you have enough money saved up to buy a cup of coffee.
Click to expand...
 
The Parahunter said:
Comparing Venezuela's economy is like comparing the budget for Bobs Surplus Store in Podunk MI to Walmart's. It's always cracked me up how economy-expert preppers like you try to justify "financial collapse" by comparing the US economy to that of say, Greece or Spain. There is no comparison and those like yourself only enjoy fear mongering and trying to tone off as some sort of economy expert when the truth is you have no idea what you're talking about.

Want to know the truth about the US economy? It's only as good as it is today because Trump rode the recovery wave Obama started 8 years ago. Prove me wrong.
Click to expand...
bsflagbsflagbsflagbsflag
 
The Parahunter said:
Comparing Venezuela's economy is like comparing the budget for Bobs Surplus Store in Podunk MI to Walmart's. It's always cracked me up how economy-expert preppers like you try to justify "financial collapse" by comparing the US economy to that of say, Greece or Spain. There is no comparison and those like yourself only enjoy fear mongering and trying to tone off as some sort of economy expert when the truth is you have no idea what you're talking about.

Want to know the truth about the US economy? It's only as good as it is today because Trump rode the recovery wave Obama started 8 years ago. Prove me wrong.
Click to expand...

Where does this dude get off throwing insults at other posters????

 
DrHenley said:
US dollars may soon be worth less than the ink used to print them, so saving fiat money may not be the best way to preserve your wealth. Venezuela, which we will soon be emulating if Brent gets his wish, had something like a million percent inflation rate. After a million percent inflation, the dollar would be worth one ten thousandth of a pre-inflation dollar.
Got $100,000 saved up? Congratulations, you have enough money saved up to buy a cup of coffee.
Click to expand...
No, I’m not backing inflation but thanks for the review. I agree that inflation is going to be a real problem for us all. The debt issue is real and wasn’t created by Biden, but was bipartisan mismanagement for decades, bordering on fraudulent theft. Right now doc the best thing to do isn’t bash every Democrat but do what you can to help keep our two senate seats republican.
 
BillMasen said:
I think that we must also recognise that many people in low paid jobs have nothing left to save each month.
Click to expand...
Even when I didn’t make crap for a wage I lived below my income and managed to save some. If you don’t save for the emergencies that you know are coming then you’re screwed when they do.
 
DrHenley said:
Venezuela was once the wealthiest, most stable country in South America and the fourth wealthiest nation per capita in the world.
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Venezuela’s govt is a **** storm, I’ll give you that. But a major reason they are so bad right now is the US has destroyed their economy and made it illegal for anyone to do business with them. I don’t like or agree with their dictatorship but I also don’t think we have the right to destroy nations because we don’t like their government. The problem is we don’t hurt the government but just starve the common people. This idea hasn’t won anything in Cuba for over 50 years now
 
Brent S said:
Even when I didn’t make crap for a wage I lived below my income and managed to save some. If you don’t save for the emergencies that you know are coming then you’re screwed when they do.
Click to expand...
I always managed to save regardless of my income. Living below ones means is critical to saving. Many of us took second jobs when times were tight.
 
Jayson said:
Yes, I know. He’s deserving of the dirt nap he’s now taking.
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I don’t think dictators or him personally were good for their people by any stretch, but I also don’t believe we have the right to put sanctions, and starve the common people, on other countries because we don’t like their leaders.
 
Brent S said:
I don’t think dictators or him personally were good for their people by any stretch, but I also don’t believe we have the right to put sanctions, and starve the common people, on other countries because we don’t like their leaders.
Click to expand...

...and tourists are flocking to Cuba, the pearl of the Caribbean.
 
Jayson said:
...and tourists are flocking to Cuba, the pearl of the Caribbean.
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Hell, I’d love to see the place. Old cars, beautiful beaches and women. What right do I have to forbid other countries to trade with them. At best the US could say WE aren’t trading with you, but what gives us the right to tell other countries they can’t. We have made sure Cuba stayed poor for 50+ years. Has it changed the govt there? No. All it’s done is made a lot of civilians suffer.
 
To get back on the original track here, I’ve been poor a good portion of my life. When I wasn’t bringing in much, I spent even less. If I couldn’t save any money I couldn’t buy beer or other luxury items. How many smoke? Buy lottery tickets, etc.? I don’t care what anyone wastes their money on but saving always comes first. It should be up there in the top 5 tenants of prepping.
 
Jayson said:
Just visit Little Havana in Miami if you want the sights, sounds and SMELLS of Cuba.
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It is pretty cool. Been there many times and love trying new foods! Somehow though living in a free country but not being allowed to visit Cuba kinds of seems like we aren’t as free as many think.
 
Brent S said:
It is pretty cool. Been there many times and love trying new foods! Somehow though living in a free country but not being allowed to visit Cuba kinds of seems like we aren’t as free as many think.
Click to expand...

Ask the people of Florida if the Mariel Boatlift was a good idea....
 
Brent S said:
I just read that 70% of Americans have 1000$ Or less in their savings account and 45% have ZERO saved. That’s really sad. It shows to me that most are instant gratification motivated and don’t think or plan for the future.
I looked at some of the Black Friday and cyber Monday ads and quickly realized that most of the stuff they were selling was pure junk. I guess I’m one of the few that don’t see consumerism as a good thing.
Click to expand...
I guess I was lucky that my parents always stressed savings to us when we were kids. Even when we got gifted money or anything we always had to put some into a savings account they set up for each of us. So it's part of my money habits today and has helped out during challenging times. Not to say I haven't made some poor decisions when it comes to money or had some difficult situations but I do try to maintain at least an emergency fund and I now I have investments too.
As far living beyond one's means and spending frivolously on Amazon, I was looking at cyber monday deals too and I was disappointed because I saw literally not one thing I would consider buying. I wanted to get "secret santa" present for a coworker and it was just all electronics stuff that I saw like fancy "Alexa" devices and other crap like that.
Jayson said:
...and tourists are flocking to Cuba, the pearl of the Caribbean.
Click to expand...
Cuba is actually a popular tourist destination that US interests used to have a lot of investment in. (One of the Godfather movies has a scene based around this.) This of course was lost due to Fidel. When Cuba started opening back up after the fall of the Soviet Union, the US had strict embargoes and did not permit trade so it was European interests that rebuilt the tourism economy there. Now the US of course has more access there and is starting to take over some places again, but it's still not back to where it was, and the Cuban is of course still quite repressive too. But I believe this is why the Russians or the Chinese or whoever were using sonic weapons on the embassy there, because they wanted the US to leave again so they could enjoy their uninterrupted access to Florida's front porch.
 
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