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Americans Are Saving Too Much–Sort Of

Tuesday, October 8, 2013 - 4:56 PM
Are Americans saving too much? Is that a trick question?

Americans Are Saving Too Much–Sort of | TIME.com
4
ShorebreakShorebreak2,621 posts since
Apr 6, 2010
Rep Points: 14,210
1. Tuesday, October 8, 2013 - 5:05 PM
We can never save too much!!  Unless you are psychic and know what problems are waiting for you in your future, you can never save too much.  The worse that will happen is that you can make your kids or loved ones happy by sharing it with them when they have financial needs.
2
paoli2paoli21,372 posts since
Aug 10, 2011
Rep Points: 6,011
2. Tuesday, October 8, 2013 - 5:41 PM
"Needed replacement income may be as little as 35% of your former salary if you have paid off the mortgage, shed all childcare and employment costs, and no longer need to save, argues Fred Vettese, Chief Actuary at Morneau Shepell, a Canadian consulting firm."

He makes a good point. I'm going to start spending-down my principle. No need to live like a pauper in the last couple of decades of one's life.
2
ShorebreakShorebreak2,621 posts since
Apr 6, 2010
Rep Points: 14,210
3. Tuesday, October 8, 2013 - 5:46 PM
These people have nothing better to do than writing non-sense.  One day on Americans have no savings and one day too much savings.

Come on Danny... get a life.
1
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
4. Tuesday, October 8, 2013 - 5:52 PM
51hh: It's called justifying your job.
2
ShorebreakShorebreak2,621 posts since
Apr 6, 2010
Rep Points: 14,210
5. Tuesday, October 8, 2013 - 6:14 PM
At least you know you can depend upon what I think:  "Save MORE than you think you'll need!"

I also don't have a job to justify.  :)
2
paoli2paoli21,372 posts since
Aug 10, 2011
Rep Points: 6,011
6. Tuesday, October 8, 2013 - 10:06 PM
I am one of the vast majority of Americans who can't come up with $1000 for an emergency. So this is actually good news.
1
mustsavemoremustsavemore49 posts since
Jun 26, 2013
Rep Points: 152
7. Wednesday, October 9, 2013 - 9:33 AM
mustsave:  Your name is really justifiable.  You need to start using coupons or something.  If you are posting on here you can't still be a minor so why can't you figure out a way to save just $1,000.00?  Get a cheaper apartment, car, clothes, or end that expensive horrible cable bill.  You don't need cable.  Just keep your internet so you can post here for entertainment and maybe learn how to save that money.  It's mainly a matter of discipline.  Bag your lunch for work and drink faucet water instead of cokes.  The water may be poluted and eventually kill us but at least we can go leaving a nice bank account behind for our loved ones. I want you to be able to change your name soon to "HAVE Saved!"  Don't think about it.  Do it!
2
paoli2paoli21,372 posts since
Aug 10, 2011
Rep Points: 6,011
8. Wednesday, October 9, 2013 - 9:51 AM
You never know if you saved enough until you need something and there is no money. No one can see into the future. 
2
Ally6770Ally6770912 posts since
Jan 16, 2010
Rep Points: 2,655
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