During the Christmas season the average American spends $700 . Yet the same person will have a thousand dollars or less in there savings. Does this make any sense? You say you cant afford to save but you got on an spend you savings on stuff.
Are we now seeing the end of the ” The American Dream was a termed coined during the 1950s. The idea was you need a big house to put all your stuff in. During this time things like credit cards became popular . As wage began to flatten or even decline to keep the dream going there life styles was maintain through credit.
Over the last few decades as Americans were still dreaming. There good paying jobs were being sent overseas. The dream was maintained there lowering interest rates over the last 35 years. This benefited the consumer but not but hurts the savers or retiree. Low rates means you getting less and less on your savings.
So what do people think they will do when it comes to retirement ?Are you just going to not think about it and go shopping?