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Another thing is that a lot of people contribute to 401k and other retirement plans. Those can’t be used for bills but count as savings. Also, a lot of people
by ianburrell 3y ago
Another thing is that a lot of people contribute to 401k and other retirement plans. Those can’t be used for bills but count as savings.
Also, a lot of people have equity in their homes. I don’t know if that counts as savings, but is money that can be accessed with HELOC or sale.
- nradov 3y agoRight, those studies and surveys often have very limited and meaningless definitions of "savings". Sometimes they only count cash in a bank account. But ultimately it's net worth that really matters, perhaps with some adjustment for liquidity.