I saw multiple news articles about this “negative” news of the savings rate going up to 6.9%. You’ve gotta be kidding me. This is fantastic news. We need to keep that rate going up till it hits at least 10%. How much would this recession have impacted us if everyone had a year’s supply of cash to live off of? How many houses would be in foreclosure if we’d had a positive savings rate before the crash rather than a slightly negative one.
We’re a wealthy country. We should be saving a large percentage of our income, helping those in need, and retiring early to meaningful volunteer work. Maybe this recession will help put us on that path.
{ 0 comments… add one now }