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SVTPerformance's Chain of Restaurants
Road Side Pub
Bank rate survey finds: 56% of Americans cannot cover a $1000 emergency
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<blockquote data-quote="4.698gt" data-source="post: 17023565" data-attributes="member: 33425"><p>There are definitely people out there not saving in any aspect, there are people who are saving in liquidity(savings account) vs not saving in long term savings(401k, retirement ect). Then there are some, myself included, who save a small amount into my savings account(3%) a larger amount into long term investments(401k and stocks 20%ish) and the rest heads into checking to take care of all the bills. </p><p>It might not be the wisest financial decisions but for my life at the moment it's working. I unlike many of people my age(37) and younger, I do understand compound interest and it's effect over 30 years, I understand (to an extent) market swings and the need to invest during the downturns(covid, housing crash ect) and with a little luck I've amassed a comfortable mix of savings. </p><p>In all honesty though, I'd had none of it had I never asked my grandfather about my 401k when I first received the packet for any of it.</p></blockquote><p></p>
[QUOTE="4.698gt, post: 17023565, member: 33425"] There are definitely people out there not saving in any aspect, there are people who are saving in liquidity(savings account) vs not saving in long term savings(401k, retirement ect). Then there are some, myself included, who save a small amount into my savings account(3%) a larger amount into long term investments(401k and stocks 20%ish) and the rest heads into checking to take care of all the bills. It might not be the wisest financial decisions but for my life at the moment it's working. I unlike many of people my age(37) and younger, I do understand compound interest and it's effect over 30 years, I understand (to an extent) market swings and the need to invest during the downturns(covid, housing crash ect) and with a little luck I've amassed a comfortable mix of savings. In all honesty though, I'd had none of it had I never asked my grandfather about my 401k when I first received the packet for any of it. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Bank rate survey finds: 56% of Americans cannot cover a $1000 emergency
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