Question of the Day (UPDATE): What is the personal savings rate in the United States?
Answer: 19% (as of June 2020)
- How does the personal savings rate today (about 19%) compare to the rate during other periods of time? (In other words, is the rate lower, higher, or around the same?)
- In our current historical moment, what would be your explanation of a 19% personal savings rate?
- What has been the general trend for personal savings rate in the U.S. from 1960-2019?
- What has happened to the personal savings rate during recessions in the past (gray bars)?
- What do you think is a good saving target to aim for personally?
NGPF has lots of resources focused on Saving. Check them out here.
About the Author
After graduating from UCLA with a Master's in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.
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