Even High Earners Say They Don't Make Enough Money to Save
There are numerous reasons Americans on a whole don't tend to do a good job of saving money. For some, it's a matter of unavoidable expenses, like healthcare. For others, it's a function of nagging debt. But whether our collective reasons for not saving boil down to valid points versus excuses, it's pretty safe to say that if we all somehow got our hands on more money, we'd be better positioned to save.
Or would we?
That's the question countless workers will no doubt find themselves asking in light of recent NerdWallet data, which found that even high earners claim they don't make enough to contribute to their savings. In fact, more than 30% of adults earning $100,000 or more per year say they'd need their income to increase to have a shot at saving money. Given that the median household in the country only earns about $56,000, it sure puts average workers at a key disadvantage. After all, if the rich aren't making enough money to save, how are the rest of us supposed to pull it off?
Source: Fool.com
