What’s the Point of a Savings Account, Anyway?
In a recent survey by GOBankingRates, 17.36% of Americans reported their lack of a savings account. In fact, a whopping 28.91% of those 55-64 years of age do not have a savings account. As this demographic approaches retirement age, that’s particularly concerning. In contrast, only 13.51% of those aged 18-24 reported no savings accounts. In addition, the survey found that 18.31% of women and 16.25% of men did not have a savings account. It has been noted in the survey that Americans lack sufficient savings across demographic groups, emphasizing the need to build emergency funds and save. Still...