. . . Wednesday December 1, 2004

You Haven’t Been Saved

The savings rate among Americans is a whopping .2%. That means, the average person making 40 grand a year is saving about 6 bucks a month.

That’s the bad news. The good news is that if you’re making a slightly more substantial salary, your savings account can look a lot more healthy. For example, if you make one hundred million in a good year, you’re putting away as much as $200,000 for a rainy day. And if one cuts back here and there, that number can easily break $210,000.

Concentration is important!