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> The average middle class family has saved less than $1000. What's the source for that number? Taken at face value, it sounds unbelievable.
by Merad 11y ago
> The average middle class family has saved less than $1000.
What's the source for that number? Taken at face value, it sounds unbelievable.
- firethief 11y agoIt sounds believable to me; I'm surprised it's positive. The non-rich live on credit in America.
- Merad 11y agoReally? Based on some quick googling it looks like "middle class" usually encompasses household incomes from about $35k-100k. You think that many people essentially contribute nothing to their 401k, HSA, etc?
- bdcravens 11y agoMany work at jobs without those benefits, or take out loans against their retirement accounts. Also, I'm not sure if most calculations offset those amounts with debt.
- kristianp 11y agoThat was based on a survey with the question "How much money do you have saved in your savings account?". I doubt most of the people who answered it included their 401k or HSA. http://www.gobankingrates.com/savings-account/62-percent-americans-under-1000-savings-survey-finds/ http://www.gobankingrates.com/savings-account/62-percent-ame...
- eli_gottlieb 11y ago70% of Americans are also net-debtors.
- bdcravens 11y agoActually, I misspoke, it's the average American. http://www.marketwatch.com/story/most-americans-have-less-than-1000-in-savings-2015-10-06 http://www.marketwatch.com/story/most-americans-have-less-th... However, at 62%, that likely includes a large amount of middle class.