DAMN SAVINGS RATE.... Dude asks "Why does the Commerce
Dept., or whoever, keep hollering that the saving rate is
the lowest it's ever been, and then, on the other side of
their mouth, announce that everybody is dumping bushel
baskets full of money into their 401(k)s. Isn't putting
money into a 401(k) saving it, or am I crazy?" Well it is
kinda different, but I see your point. Also: "I know myself
that I put as much as I can into my 401(k) (as I presume
most people do) and do not save anywhere else. Now correct
me if I am wrong... but when you put money in a 401(k), the
amount becomes "deferred income" and is not either current
income or savings. Therefore, assuming on average (if the
average person saves, say, 3%) income is understated by 3%
and savings is understated by 3%. The number posted on a
monthly basis is meaningless!!! Going forward, what happens
in 15-20 years?? There are going to be a lot of retired
people sitting on the beaches and personal income will
soar!! " Right on, Cliff. |
