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Politics : Ask Michael Burke

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To: Mike M2 who wrote (58200)	4/30/1999 11:47:00 AM
From: Nadine Carroll	Read Replies (2) of 132070

Mike, My question stems from the fact that I do not know if most of ways that most people save nowadays are in fact, counted as "savings". Is my money market account "savings"? Is my SEPP-IRA? I certainly think of them as such. Thirty years ago people kept their money in savings accounts in the bank, but the banks are clearly not competitive with money markets and/or stock funds these days. Also, the growth of various IRA vehicles, which didn't exist thirty years ago, surely has pulled money out of savings accounts and CDs. I don't understand what you mean by "home equity, retirement funds, financial assets but these came from past savings"? Surely all savings are, by definition, "past savings"?

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