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An interesting tidbit....

February 5th, 2008 at 04:00 pm

At the end of my pricey day yesterday, I went to the free financial class that I signed up for. The most interesting thing that I learned there was that the average American family has $29,000 saved up for retirement. Based on that, I figure I’m ahead of the game….

Posted in Savings | 4 Comments »

4 Responses to “An interesting tidbit....”

  1. Joan.of.the.Arch Says:
    February 5th, 2008 at 05:06 pm 1202231197
    1202231197

    Did the info include any further details, such as how old are the wage earners in that average family? My mind immediately thinks of them as being the same age as myself (which would be incorrect), and I panic to think of them having so little. Not enough to retire on is bad not just for the undersaving retiree, but for their family and community.

  2. compulsive debtor Says:
    February 5th, 2008 at 05:13 pm 1202231589
    1202231589

    They didn't go into much detail, but my guess is they 35 and older since it was an average. It scares me.

  3. Nancy Says:
    February 5th, 2008 at 05:27 pm 1202232429
    1202232429

    I just found this blog and have read about 30% of it. It's scary. Your credit card balances are so high and yet you refer to a housekeeper, manicures, vacations, and such, when in reality, when if ever will you ever get out of debt? The sweaters at Macy, for example -- go shop at WalMart on clearance. I hope this blog gives you insight and I will bookmark it because when I read it, it serves as a cautionary tale, indeed.

    nancy

  4. compulsive debtor Says:
    February 5th, 2008 at 05:37 pm 1202233030
    1202233030

    Sorry you're scared, Nancy, but I'm not sure what you're afraid of. I'm paying my debt off on time. I'm not late on anything. I own a house and have a huge amount of equity and I have a boatload of savings in other accounts (remember what you see reflected there is not my complete savings, but it is my complete debt). If I wanted to, I could pay off the debt today, but given that I'm a compulsive debtor paying it off in one fell swoop is not going to make my problem go away so I'm following a very set program for paying it off on my terms while not living in deprivation. I have a housekeeper because I work more than 40 hours a week. My husband does as well. We go on vacation by paying cash. The clothes I buy at Macys are paid for with cash. We have no more credit cards, so the debt is not increasing in any way. Deprivation is just going to make me want to spend more, so if I can live comfortably while still paying for my debt it really shouldn't scare you.

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