Nearly half of Americans have no savings

[Chef Ramsay]

Short on savings? You're not alone.

Twenty-eight percent of Americans have nothing in their savings accounts and another 21 percent don't even have a savings account, according to a new survey from GOBankingRates.

The rate comparison website surveyed 5,000 people and found just 29 percent of them had $1,000 or more in savings account.

...

Most financial advisors recommend that people have three to six months of essential expenses in an emergency fund to pay for unexpected costs. Sadly, it looks like most savers aren't following that advice whether they want to or not.

http://www.cnbc.com/2015/10/06/nearly-half-of-americans-have-no-savings-survey.html

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[vero]

The government wants to take until your dead, why not, after retirement, give them a break, they have paid taxes all their lives, time to stop with taking everything from them. Time to allow the elderly to be able to pay for their meds and housing and food, from what I hear this has become a real problem, here in America, that is just not right.

[Tzupy]

In stark contrast, Apple Google and Microsoft don't pay the taxes, as many other businesses do, they cheat by using tax heavens:
http://arstechnica.com/business/2015/10/apple-google-microsoft-hold-more-than-336b-overseas-via-legal-tax-loopholes/

[BADecker]

One of the big problems with money savings is inflation. Even if you earn a small amount of interest on your savings in a bank, inflation reduces the buying power of the money at a far faster rate than interest grows it. Not having savings in the form of money is a good thing.

Savings could be held in something like precious metals. But gold or silver have been manipulated lately to make them impractical. However, the manipulation of silver is a smoke screen. People own way more silver on paper than exists. If they decided to take direct ownership, there would be a run on silver that would be almost as bad as the run on cash if people decided to take all their fiat out of the banks. The price of silver would shoot way up, because of its value in industry.

Probably the best way to hold savings is to own good, fertile land that has water. The disadvantages are the property taxes and insurance. However, if it is held in the form of farm land, and rented out to a local farmer to grow or graze, taxes and insurance become negligible. In a pinch, one could live on the land and grow his own food. This might be the best savings of all.

[ridery99]

Apple pays tax because it's from USA. USA is freedom, everything else is evil.

[Snail2]

With the current inflation together with the rock bottom interest rates makes storing money on an ordinary savings account a stupid move. Why anyone would take like taking losses. So I'm not surprised. In addition the recent global economic difficulties wiped out a lot of savings in the last couple of years.

[darkangel11]

I heard about it long ago, it's the same in Europe. Most people live on credit and the majority of those nice cars you can see on the streets could be repossessed at any moment.

[Betwrong]

Short on savings? You're not alone.

Twenty-eight percent of Americans have nothing in their savings accounts and another 21 percent don't even have a savings account, according to a new survey from GOBankingRates.

The rate comparison website surveyed 5,000 people and found just 29 percent of them had $1,000 or more in savings account.

...

Most financial advisors recommend that people have three to six months of essential expenses in an emergency fund to pay for unexpected costs. Sadly, it looks like most savers aren't following that advice whether they want to or not.

http://www.cnbc.com/2015/10/06/nearly-half-of-americans-have-no-savings-survey.html

Ok, it's nice to see that I'm not alone. I don't have savings at all.

A piece of advice for those who are worried about not having savings:

Live today, do not waste your time and money on preparing for "bad times" which might never come.

[Pab]

Short on savings? You're not alone.

Twenty-eight percent of Americans have nothing in their savings accounts and another 21 percent don't even have a savings account, according to a new survey from GOBankingRates.

The rate comparison website surveyed 5,000 people and found just 29 percent of them had $1,000 or more in savings account.

...

Most financial advisors recommend that people have three to six months of essential expenses in an emergency fund to pay for unexpected costs. Sadly, it looks like most savers aren't following that advice whether they want to or not.

http://www.cnbc.com/2015/10/06/nearly-half-of-americans-have-no-savings-survey.html

Situatiion in other countries is similar,instead savings people have debts,no saving becouse  people need to pay his debts

[subSTRATA]

this was years ago, but still very, very relevant:
https://www.reddit.com/r/todayilearned/comments/19pwb0/til_if_you_have_no_debts_and_10_in_your_pocket/

the fact that  25% of americans were worth less than 10 dollars at one point in time was bad enough, but i dont really expect the situation to have drastically improved since then.

[Beliathon]

62% of americans have under $1,000 savings

[bojan92]

Well people in America have a mortgage so they have great debts, how can someone save money when you have to pay the bank large amounts every month. Is is very different in Europe, we spend as much as we have, and sometimes we put some money in the bank, just for rainy days ))

[SerenaL]

With the rent being so high and people buying useless crap I am not surprised.

[dance191]

Donald Trump inherited $250,000,000...

Managed to turn that into $8,000,000,000 in debit at one point (if you had $10, you had $8,000,000,010 more than him)...

Now he might become president...

Merica!