Survey: 69% of Americans Have Less Than $1,000 in Savings

Re:Survey: 69% of Americans Have Less Than $1,000 in Savings by Johnny555 on Saturday October 15, 2016 @10:07PM (#12716481)

Is it deceiving?

"The Fed asked respondents how they would pay for a $400 emergency. The answer: 47 percent of respondents said that either they would cover the expense by borrowing or selling something, or they would not be able to come up with the $400 at all."

http://www.theatlantic.com/magazine/archive/2016/05/my-secre...

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Re:Survey: 69% of Americans Have Less Than $1,000 in Savings by rsmsky1 on Saturday October 15, 2016 @11:04PM (#12716660)

Maybe they were joking, who knows. That same thing said that people making $100,000-$150,000 couldn't come up with $2,000 when asked on the street or something like that. Probably if someone asks me these questions on the street I'm not going to be honest either.

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Re:Survey: 69% of Americans Have Less Than $1,000 in Savings by pharrlax on Saturday October 15, 2016 @10:33PM (#12716568)

Do stocks count as "something"?

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Re:Survey: 69% of Americans Have Less Than $1,000 in Savings by eli on Saturday October 15, 2016 @10:40PM (#12716596)

Do many people invested heavily in the stock market not also have $400 in cash or equivalent?

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Re:Survey: 69% of Americans Have Less Than $1,000 in Savings by namlem on Sunday October 16, 2016 @02:07PM (#12719965)

So 22% do have savings, just not in their savings account.

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