July 24, 2007
THE SAVINGEST PEOPLE ON EARTH:
Retirement Accounts Climb to $16.4T (EILEEN ALT POWELL, 7/24/07, AP)
Americans have accumulated a record $16.4 trillion in retirement accounts, with about half of it in company-sponsored plans like 401(k)s and in Individual Retirement Accounts, according to a study by the Investment Company Institute.
Just one of the reasons that fretting about the national debt is a mark of one's deep silliness. Posted by Orrin Judd at July 24, 2007 8:13 PM
Comments
My Dad said to me the other day, all sarcastic, "So, the Dow hit a new record, aren't you happy?" I said, "Yeah, I just got my monthly 401k statement, I'm ecstatic!"
Posted by: Bryan at July 25, 2007 6:59 AMI just got a lecture from my CPA roomie about savings accounts, IRA's, the bond market, and other boring subjects. Bottom line: luckily, it's not your father's saving plan anymore and contrary to Madame Speaker's (mis)understanding of the subject, the poorest among us will benefit the most, because there are so many of us prosperous enough to carry the burden of providing for them.
Posted by: erp at July 25, 2007 9:40 AMGreat find. Hopefully, articles such as this will put to rest the myth that Americans do not save.
Posted by: Kurt Brouwer at July 25, 2007 3:34 PMFacts can't put it to rest.
Posted by: oj at July 25, 2007 7:00 PM
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