What Percentage of Americans Have an Emergency Fund? Are Saving for Retirement?
From USA Today:
Questions to stimulate classroom discussion:
- What do you think is an appropriate headline for the pie chart? For the bar chart?
- In looking at the percentage of each age group saving for retirement, which group would benefit the most from the impact of compound interest?
- What is the appropriate size of an emergency fund? Why do you think an emergency fund is important?
- Aside from personal savings for retirement, what are other income sources for people in retirement?
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.