Comments on: National savings rate…epic fail

By: SS4BC

SS4BC — Fri, 12 Feb 2010 20:54:34 +0000

I'm sure someone may have already said this above, but I'm far too lazy and have WAY too many PDITF posts to catch up on from the last week to read all the comments as well.

But you can also notice a generational trend in the savings spikes. Each generation has to have their own recession before they learn to save. And the big "decline" is really the baby boomer generation not really getting the whole savings thing. We have a spike after a recession. People start to save again, then a whole new generation comes along who hasn't had a recession and they don't think saving is a big deal and BOOM they get a recession.

It is an endless cycle.

By: tom

tom — Thu, 04 Feb 2010 14:25:05 +0000

So that does not include automatic 401(k) contributions. It would include IRA contributions, however. 401(k)s started to become popular in the mid-late 80s and into the 90s, and became mainstream after. So that could account for the drop.

I take back what I said above, there is way to much data excluded from these statistics to draw any conclusions.

By: Jake Stichler

Jake Stichler — Thu, 04 Feb 2010 07:49:37 +0000

That's alright I.N., you know I'm in the same boat! Sans the saving part, anyway.

By: S

Thu, 04 Feb 2010 07:04:43 +0000

No graph, but some numbers: http://gailvazoxlade.com/blog/archives/1138

By: youngandthrifty

youngandthrifty — Thu, 04 Feb 2010 04:49:08 +0000

To be diplomatic here, I would assume that our savings rate is about the same as Americans too =)
We all have the same media images bombarding us with the "Fabulous Lifestyle of the RIch and Famous" of celebrities etc. etc. that tell us to buy this and that to make ourselves feel whole.