American Economics Thread

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Meanwhile back in the USA.

Government shutdown exposes a harsh truth: Most Americans are unprepared for the next recession

The government shutdown, the longest in history, comes with a hidden revelation: Millions of Americans are financially unprepared for the next economic downturn. Ten years after the financial crisis, the economic recovery has left millions behind with little to no savings, and the government shutdown serves as a preview for what will happen once unemployment rises from 50-year lows. Within just a few weeks into the government shutdown, people are struggling to cope. ...

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[Jura The idiot]

Meanwhile back in the USA.

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gosh about one third of US adult population is broke

 

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gosh about one third of US adult population is broke

Happy to say that I'm in that 21% group that saves $10,000 or more.

 

[PiSigma]

Happy to say that I'm in that 21% group that saves $10,000 or more.

It is sad that there are no higher categories than 10k. I save more than 10k a year even with double paying on my mortgage. Once I finish my mortgage payment in 3 month (yay!) I should be easily saving 50k-70k a year even with the kid on the way.

 

[siegecrossbow]

gosh about one third of US adult population is broke

Does this include 401K?

 

[Jura The idiot]

Does this include 401K?

it seems to me it doesn't, based on

"Among Americans who are saving, the survey found that the most common thing they are saving for is retirement." etc.

in the source of that chart:

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[siegecrossbow]

it seems to me it doesn't, based on

"Among Americans who are saving, the survey found that the most common thing they are saving for is retirement." etc.

in the source of that chart:

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Unless there is an emergency (medical or otherwise) most Americans aren't technically broke then.

 

[PiSigma]

Unless there is an emergency (medical or otherwise) most Americans aren't technically broke then.

Can 10k cover most medical emergencies in the US? My wife had selective surgery last year, with all the tests and consultations and surgery (two head surgeons, it was complex), a private health care system probably would easily be 50k. But it is Canada, so all free.

 

[Equation]

Can 10k cover most medical emergencies in the US? My wife had selective surgery last year, with all the tests and consultations and surgery (two head surgeons, it was complex), a private health care system probably would easily be 50k. But it is Canada, so all free.

Depending on your health care provider. Some surgery does require a $10K co-payment.

 

[Jura The idiot]

Happy to say that I'm in that 21% group that saves $10,000 or more.

so you may move to 220 Central Park South, NY, no? LOL

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