$1000 in savings? What % of Americans have it?

Question

I heard that 50% of Americans do not have $1000 in savings. Does this sound correct?

Answer 1

I can't answer for certain, but I will say this:

The typical American spends $1.25 for every $1 of income. Most Americans have been brainwashed into believing that buying something on sale is actually saving them money.

I, on the other hand, religiously save a portion of each paycheck, and currently have about $10k in investments. Had I known at age 18 what I learned at age 25, I'd have a net worth of about $100k.

Answer 2

Hard to say since I don't know 50% of Americans. But I have over $1000 in savings.

Answer 3

I am not sure if they have a liiquid and unencumbered $1,000.00 in savings . Americans are pathetic at saving and that is bad . Most americans according to polls live paycheck to paycheck. Sort of a sad state of affairs .

Answer 4

I believe many are saving less according to news reports. However I personally think more than 50% have 1k in cash availabe to them. Of course most have some kind of debt they are paying on too.

Answer 5

The replies to this question show the perils of statistics. Every one quotes them and hardly any one knows what they are talking about.

A company making pet foods once advertised that 55% of cat food buyers preferred Kattex (or what ever its brand was called). After competitors objected to the advertising standards authority, it emerged that they had carried out their research in a supermarket which, on that date, only had two brands.

Answer 6

Are you counting only working americans, or are you including children too?

Answer 7

Not really.. and, it depends on what you count. Do you count retirement portfolios, home equity, etc.?

Answer 8

I don't

Answer 9

60%?? i don't know.