So we all agree that Americans by and large don't save and that is manifesting itself on a national scale. America is a debtor nation and the masses live on credit, spending money they don't have.
So what do you define as savings?
If you manage to keep $500, $1,000, $2,000 in your pocket after all your monthly expense are paid? Is this savings?
If you barely have anything left BUT you are contributing to a 401k and/or to an IRA account? Is that savings?
Mind you I do have gold and silver, and thanks to a work bonus & tax refund, I will have a sudden cash inflow that will compose 6 months of emergency money. I have gold and silver, and I have retirement accounts. I have decided to resume my Roth IRA after not doing much with it for a while (but will throw a bit into the Roth come this money inflow to get at least something for calendar year 2011 before I begin putting something every week beginning 4/15/2012 so I have at least $3,000 by 4/15/2013 for calendar year 2012).
What's savings then?
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