Savings

Americans 401K balances as of the end of 2018

Each year Fidelity reports on how much Americans have saved for retirement and what the median account balance is. The latest 2018 data has just come out today. Fidelity is a great source of this data as they are the largest 401K provider in the US, and they have over 16 million accounts under management. See the data below. We regularly report on emergency savings, retirement data, auto loans and credit card debt, etc. as we continue to try to bring visibility to all of these issues. Financial literacy and …

Adults spend over $300 per year on state lottery drawings

State lotteries are a waste of money. I was watching 60 Minutes last night, and I was stunned to learn that the average American adult (18 years or older) spends about $318 per year on lotto tickets. This is according to the US Census Bureau as pulled from 2018 data. The government agency reports that there are over 229 million Americans over the age of 18 and the total lottery spend last year was 73 billion dollars, thus the $318 average. As we report on, statistic after statistic shows that …

Latest 2018 savings data – government shutdown sheds light on problem

As we report on from time to time, Americans do a terrible job saving. The latest 2018 data still shows this to be the case. In addition, everyone probably knows about the federal government shutdown, which is horrible for the 800,000 workers who are going without pay. While everyday of not getting paid is one day too many for those workers, the fact is the shutdown has lasted only one pay cycle and that lack of just one paycheck is causing tremendous financial hardship for many of those government workers. …