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Forum » How much money do you have in your savings account? 40% of people don't even have 500
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Thread: How much money do you have in your savings account? 40% of people don't even have 500

post 1677866463 02-24-2023, 04:26 PM
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How much money do you have in your savings account? 40% of people don't even have 500

How much can you cover in an emergency. I'm currently rocking 20 grand.
post 1677866553 02-24-2023, 04:27 PM
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  1. HMFIC_BROWSIN
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Those clickbait articles about how poor everyone is is stupid. I don't have a "savings account" so I guess I'm in the 40%? Like what does that even mean?
post 1677866583 02-24-2023, 04:28 PM
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$499
post 1677866703 02-24-2023, 04:29 PM
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Originally Posted By stevemckenna⏩
$499
498$ checking in
Edit Signature
post 1677866783 02-24-2023, 04:30 PM
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Imagine having $20k not in an investment account! Lmao, thats what differentiates the rich from the poor.
2 time survivor of The Great Misc Outages of 2022

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post 1677866803 02-24-2023, 04:30 PM
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$350
post 1677866863 02-24-2023, 04:31 PM
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like 300k in my business checking

and 80k in personal

no savings account lol
post 1677867073 02-24-2023, 04:35 PM
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  1. UnawareJonSnow
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Originally Posted By KegelGains⏩
$350
$350
post 1677867083 02-24-2023, 04:35 PM
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I have about 12k. The rest are in Roth IRA, precious metals, commodity/oil stocks, etc. I have some cash too.

Zero reason for me to have more than that especially right now, and honestly I am probably going to move more over somewhere else as I figure out where.
post 1677867723 02-24-2023, 04:48 PM
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My NW is nearing $1m.

I don't have a savings account

I am the 40%
post 1677867733 02-24-2023, 04:48 PM
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Originally Posted By HMFIC_BROWSIN⏩
Those clickbait articles about how poor everyone is is stupid. I don't have a "savings account" so I guess I'm in the 40%? Like what does that even mean?
This. Plus they've been making these stupid articles about people having nothing in their "savings accounts" since forever.
post 1677868003 02-24-2023, 04:53 PM
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$3.50
post 1677868243 02-24-2023, 04:58 PM
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Originally Posted By HalfDragon⏩
My NW is nearing $1m.

I don't have a savings account

I am the 40%
Typical misc millionaire. Just lol
post 1677868493 02-24-2023, 05:02 PM
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Originally Posted By northernlights7⏩
This. Plus they've been making these stupid articles about people having nothing in their "savings accounts" since forever.
Wrong. The article isn't about "savings accounts", nor are they "stupid":

https://www.cnbc.com/2022/01/19/56pe...h-savings.html

The point is that 56% of Americans cannot afford a 1000 dollar emergency expense with available cash. And a significant amount of Americans also have no savings at all - and live in constant debt. These are appalling figures, and certainly not "stupid". The average American is not doing as well as people think, and effectively lives way beyond their means using credit.
post 1677869243 02-24-2023, 05:14 PM
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15k in stocks, 5k in savings account, 1000 in chequing account and 500 in my wallet at all times.
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post 1677871363 02-24-2023, 05:49 PM
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I have really good credit and could cover any expenses that arises so I don't really need a big savings account. But I like to keep 5K in a checking account and 5K cash at all times. On occasion I run across cash deals on items I'm interested in and I like to be able to source 10K cash at any given time.


If I make any purchases I just replenish that amount back so its on stand-by.
Originally Posted By desslok⏩
Imagine having $20k not in an investment account! Lmao, thats what differentiates the rich from the poor.
The majority of the wealthy people I know don't invest in the stock market at all but they buy real estate and small businesses. If you are looking for business opportunities you are better off liquid then invested in the market.


I personally invest the majority of my money into the markets. But I do not believe its the most efficient way to become rich or build wealth. Everyone I know with a net worth over 10M do not invest in stocks at all. They don't invest in anything that they can't control/be in charge of.
post 1677871513 02-24-2023, 05:52 PM
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Originally Posted By Tshadows⏩
Typical misc millionaire. Just lol
poor boyo spotted. instead of angry negs.

ask for advice, happy to help srs
post 1677871823 02-24-2023, 05:56 PM
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a lot of poor angry miscers ITT lol

post 1677872273 02-24-2023, 06:01 PM
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Originally Posted By desslok⏩
Imagine having $20k not in an investment account! Lmao, thats what differentiates the rich from the poor.
rich people made the stop at 20k somewhere alone the way.

or you think 7-8 figures is just generated from no where.
post 1677872723 02-24-2023, 06:08 PM
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Some is in investments but it's all liquid and I could get it to my bank instantly, so 35k.
post 1677872873 02-24-2023, 06:10 PM
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All in crypto since '16
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BTC to $200k
post 1677872963 02-24-2023, 06:12 PM
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Liquid, non retirement funds are about 300k
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40 in savings, 6 month emergency
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post 1677873123 02-24-2023, 06:17 PM
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Originally Posted By LogicalLifts⏩
Wrong. The article isn't about "savings accounts", nor are they "stupid":

https://www.cnbc.com/2022/01/19/56pe...h-savings.html

The point is that 56% of Americans cannot afford a 1000 dollar emergency expense with available cash. And a significant amount of Americans also have no savings at all - and live in constant debt. These are appalling figures, and certainly not "stupid". The average American is not doing as well as people think, and effectively lives way beyond their means using credit.
Yeah but that's always been true. The economy just didn't always suck so much asssss like it does these days, so it didn't seem like quite as big of a deal.
post 1677873273 02-24-2023, 06:21 PM
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post 1677873383 02-24-2023, 06:23 PM
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Originally Posted By northernlights7⏩
Yeah but that's always been true. The economy just didn't always suck so much asssss like it does these days, so it didn't seem like quite as big of a deal.
By what metric is the economy sucking ass?

Interest rates are increasing right now specifically to cool an economy so hot that we’re dealing with inflation likely nobody here has seen in their adult life
post 1677873583 02-24-2023, 06:27 PM
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Like $250k ish
post 1677873833 02-24-2023, 06:34 PM
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Originally Posted By Destor⏩
By what metric is the economy sucking ass?

Interest rates are increasing right now specifically to cool an economy so hot that we’re dealing with inflation likely nobody here has seen in their adult life
jealous poor boyo spotted
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