Investor’s Business Daily offers a reassuring corrective to the latest assertion that, as a group, Americans are money-burning, savings-hating, future-mortgaging bums.
Those analyses of the nation’s ostensibly miserable savings rate fail to take into account both 401(k)s and mortgage payments. That’s like saying Americans don’t eat enough but forgetting to factor in lunch and dinner.
Reader Comments:
If an American pays into a 401(k) and pays the mortgage on time, but has little to no cash savings, with perhaps consumer debt exceeding that, then I consider that American’s situation precarious, regardless of retirement savings and personal property owned.
Yeah, but what about U.S. dollar’s value?
Finally got it. 5.2 after a dozen trys. You’re a whiz, Bart!
We are indeed a nation of spoiled brats, convinced that we have a right to everything we want RIGHT NOW, whether we can afford it or not. Does that make us optimists about the future or simply irresponsible? Glad we are not quite as bad as we thought we were.
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