this post was submitted on 22 Jan 2024
1375 points (97.9% liked)
Microblog Memes
7675 readers
2171 users here now
A place to share screenshots of Microblog posts, whether from Mastodon, tumblr, ~~Twitter~~ X, KBin, Threads or elsewhere.
Created as an evolution of White People Twitter and other tweet-capture subreddits.
Rules:
- Please put at least one word relevant to the post in the post title.
- Be nice.
- No advertising, brand promotion or guerilla marketing.
- Posters are encouraged to link to the toot or tweet etc in the description of posts.
Related communities:
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Source?
60% to 80% is literally a jump of 2x, meaning twice as many people who have savings
80% is incredibly far off
https://www.cnbc.com/2023/09/27/60percent-of-americans-are-still-living-paycheck-to-paycheck.html
Gives lending club as source so basically it's the same source
Where did you get 69%
Neither you nor I have a decent source yet. All of these sources are from surveys, you just pick your organization. A skimming of the google search results for this gives numbers in the 55% to 69% range, but that’s not a good source. So far what we’ve found is:
Forbes survey: 40% Lending club survey 60%
I don’t have a source for 80% where the meme claimed.
Because 80% is not correct. The median person has $8,000 saved in just their bank accounts, not including retirement (which you can take out paying a penalty) and CoD (which you can take out after paying a few months penalty)
https://www.forbes.com/advisor/banking/savings/average-savings-by-age/
So half of people have more than this amount saved. I personally have less than this in my bank and a lot more in taxable investments which were not measured
How do people save if 80% are living paycheck to paycheck?
And your number is also not correct! See how this works?
Again my guy. a mag for rich folks isn’t going to be unbiased
St Louis Fed is not a mag, it's a federal reserve bank
Ok but you’ve cited forbes, which is a magazine.
Not their numbers, which you would know if you took the one second to click the link instead of complaining about the URL
We’re so deep in this denial bro that I can’t even find the link you’ve sent any more. I click more context and I get the full thread. I searched for your link and can only find the forbes link you keep reposting.
https://www.forbes.com/advisor/banking/savings/average-savings-by-age/
$5400 median savings up to age 25
See? There’s a forbes link again.
Yes, but the numbers are from here
https://www.federalreserve.gov/econres/scfindex.htm
Although the Forbes page may have an error, it lists the median for under 25 as the same as 25-35, but it should be lower