Middle-income families feel 'high level of stress' about savings
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- čas přidán 4. 07. 2024
- #middleincome #yahoofinance #economy
Two-thirds of American middle-income families feel they are falling behind the rising costs of living in the US, according to data from Primerica. Though a tick down from last year's sentiment of 71%, this is still a worrying figure as more Americans are dealing with price pressures tied to housing costs and food prices. Primerica (PRI) CEO Glenn Williams talks more about the data with Brad Smith, stating "we also detect a high level of stress financially from these families" as US consumers reprioritize their spending. "As we sit down with families, clearly they know they need to be saving for the future, particularly for retirement. They need to make sure debt doesn't get out of control. But we see them in action. We sit down with them and first analyze where they are today. And that's where it exposes that. What sometimes they think is happening is not exactly what's happening. They're spending more than they think. They're using credit more, they're saving less, or the amount that they're saving is not going to get them where they want to go in time," Williams elaborates. "And then as families get started, they get a little momentum. And then they find out it's easier to take the next step and the next step. We find out that, Brad, it's not usually the information, it's the personal application of the information to their specific circumstances that confuse families. And then it's the motivation to act and continue to act that families need." For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Luke Carberry Mogan.
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If everyone stop spending, prices will start to drop. Common sense.
if gov stopped counterfeiting money prices would stop skyrocketting. not spending money is a good way to starve your economy smart guy
yeah... no-sht!
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I’ve always been decent at savings, mindful of spending, always the one in my friend group with any kind of savings throughout elementary to college. It allowed me to buy a car with cash, payoff student loans, and put down 20% on a house. But I’ll admit, now that I’m 41, I really really wish I would’ve been even better than I was. Spend even less on going out, drinking, partying, put even more money in retirement accounts not just savings, invest more in my brokerage. Had I done those things I would be able to comfortably retire by now. But one thing I’ve never regretted is travel - I got a lifetime full of memories all over the world with my husband.
They need to include FAMILY PLANNING in this scheme as well. I don't think a lot of middle- to low-income families are asking themselves, if we're struggling to save with the current children we already have, WHY are they continuing to have more children they clearly can't afford - that's going into more debt!! Children are a want, NOT A NEED! like a luxury item that is non-refundable and very expensive! NEEDS are: housing, transportation, food, clothes, retirement savings, healthcare! Not children, not even marriage, is listed under BASIC daily needs, because those are WANTS!
No such thing as unaffordable children in America. Your tax dollars buy food for children in low income low wealth families
@@economicdevelopmentplannin8715 I'm getting so sick and tired of these ASSUMPTIONS people like you make just because of someone from way back when started saying this to get others riled up!! You believe the LIES if you want to!!
@@wisteria777s7 just use the law to reach your goals. Poverty programs. Child labor laws. Everything we need is already available to us.
@@wisteria777s7?
Today’s young adults are barely having any kids
Which is bad for society
@SigFigNewton I don't know what your definition of "young adult" is, but mine is ages 18-28, and right now that age group is struggling to pay for a college degree much less pay off a college degree and they are feeling hard pressed to find a decent paying job that will cover those basic expenses and on top of that, taking the time to understand "adult life" in general and establishing a life path for themselves - young adults today are NOT in a position to be adding children to issues they are dealing with now! What's bad for society is our current political and economic conditions, not birth rates!
I'm doing well as I'm so cheap. LOL.
Yeah I’ve been making a lot in investments that I was able to buy because I avoid car ownership
Riiiiighhhtt, your $15 streaming service is going to make or break your savings
I don't get it record travel, outlet mall near me packed, even the perfume store. Cruises sailing at full capacity??
The airport was crowded and I see so many new cars on the road. Seems like everybody is wealthy.
Economy is good, low unemployment and stock market at all time high.
@@dantheman6607 i dont believe a word of it your comments are probably bots ...
Businesses serving the old are doing very well
@SigFigNewton the outlet mall was young people, young families and 20 somethings.
Have nothing and be happy. Good advise
All by design.
If people weren't broke and helpless they wouldn't be willing to sell their soul to some corporation for 40+ years to barely pay their bills.
I know several people that work for Nvdia and Tesla who are multimillionaires worth at least $10 million or more. Those damn corporations making it hard for workers to get ahead.
Saving will never make you money, buy assets that will appreciate
Raise hourly salaries nationwide
That will never happen. Not in America. American values are free market place. So companies will always value skill over anything. If you don't have it you'll stay in poverty
@@zombie1864 raising salaries only makes it worse.... you have to take pain for years for the great good not enjoy now pay later
@@zombie1864that certainly wasn’t true half a century ago
@@brianoleson9224raising salaries does not make it worse
It boosts hiring in many businesses because people who didn’t used to have spending money now do
So you want things to be even more expensive?
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How's that endorse for Rate-Cuts!
cut up credit cards, never have a par payment, save for a house, save prior to having children, only way to win now. Do any of these you will lose
@@jamescares9003 I have nothing just rent and no kids car house or debt
funny this guy scams people with schemes and insurance. They make you sell and convince people and your loved ones to buy things they dont understand. Then he talks about how they are getting squeezed....
The incompetence and corruption that runs through this administration are getting more ridiculous. I feel for people with disabilities not getting the help they deserve. Thank you Leah Foster Alderman, imagine investing $1.5k and receiving $6.5k in 4 days.
That woman totally changed my life for good. I have come across individuals but none is as honest as Leah. So surprised you know her too.
I've seen different people talking about this Leah, she must be very amazing for people to talk this good about her.
Please I'm new to this, how can I get her assistance?
Leah Foster Alderman. You'll definitely find out more if you look her up online
Exactly that's her name, look her up with the name above!
put the savings into nvidia and 5 x
No saving left. Brokee now and I want 2019 back. Trump 2024
I want Biden Stock market all time high my 401k loves Joe 😂 FDT
Do you really think Trump is gonna lower inflation worldwide? Stop 2 wars and stop inflation in this country LO. L in a second term, a President only sets them settles up for a big Payday. After 4 yrs bush, did it, Obama did it and Trump will do it.
Which is it? Just a couple segments ago it was claimed that Americans retirement had increased y 19% !
People don't want to retire 😅
It did for those with 401k’s and other investments. So about 40% of Americans
They are talking about the rich when using averages