Americans’ Problem with Saving Money
American’s have grown infamous of late for neglecting their savings either completely or to such a degree to make no difference. 66% of Americans could not come up with $1000 in an emergency according to a recent study by Associated Press-NORC Center for Public Affairs Research. Unfortunately this also ties in to retirement. Americans are foregoing retirement savings and becoming reliant on Social Security benefits to fully support them. This is leaving many struggling as the average monthly benefit for Social Security is around $1300. For more information on this subject visit this article by Casey Dowd with Fox Business.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.