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40% of the US would have a hard time covering a $400 expense [0]. How in God's name do you think they have any kind of stability to think about investing? 2 out
by Balgair 7y ago
40% of the US would have a hard time covering a $400 expense [0]. How in God's name do you think they have any kind of stability to think about investing? 2 out of 5 Americans are essentially living paycheck to paycheck.
[0] https://money.cnn.com/2018/05/22/pf/emergency-expenses-household-finances/index.html https://money.cnn.com/2018/05/22/pf/emergency-expenses-house...
- partiallypro 7y agoBy teaching people to manage their money better? Financial education in US schools is basically non-existent.
- Balgair 7y ago> Financial education in US schools is basically non-existent. Source? As of 2015, U.S. 15 year olds do about average on international tests of financial litteracy, as compared to other OECD countries[0] The issue is not that 2/5ths of people are bad at managing their money, it's that they don't have any money to manage. [0] http://www.oecd.org/education/pisa-2015-results-volume-iv-9789264270282-en.htm http://www.oecd.org/education/pisa-2015-results-volume-iv-97...
- jvreagan 7y agoAnd due to great income mobility in the US those 2 out of 5 Americans don't stay there long. Or they don't have to. http://www.aei.org/publication/some-amazing-findings-on-income-mobility-in-the-us-including-this-the-image-of-a-static-1-and-99-percent-is-false/ http://www.aei.org/publication/some-amazing-findings-on-inco...
- Balgair 7y agoWell that's good news! Thanks!