Loading ...Our National Savings Rate Is Embarrassing [Fool.com] January 17, 2007
Wow… this was surprising to me:
…consider these historical numbers for the U.S. personal savings rate:
* 1984: 10.8%
* 2001: 1.8%
* 2003: 1.4%Do you see a troubling trend? So do I. Care to guess where we landed in 2005?
* 2005: (0.5%)
That’s right — negative savings!
Is that unprecedented? Well, not exactly. We hit negative levels for two years — during the Great Depression.
I figured Joe American wasn’t doing that great at savings, but those numbers point to a situation much worse than I anticipated. It is definitely my goal this year to help bring that number up a bit.
Technorati Tags: personal finance, savings
