How come American's are so financially stupid?

How come American's are so financially stupid?

>40% of Americans making $100,000+ a year have less than $1,000 in savings

>Women are more likely than men to have $0 saved—42% have nothing saved versus 28%

>Millennials aged 25 to 34 are more likely than Gen Xers aged 45–54 to have $1,000 or more in savings

>These 5 Southern states have the highest percentage of residents with $0 in savings: Louisiana, Mississippi, Oklahoma, Georgia and Texas

>62% of seniors aged 65 and up have less than $1,000 in savings, with 1 in 3 having no savings account at all

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>takes 4 years to save for home downpayment
>needs to pay car insurance, gas, food, rent, phone bill, heat, water.

Gee why can no one save money?

>how come americans
Low IQ. Look at yourself as an example

Wonder how accurate this is, I just graduated uni at 26 and have 5k in savings just from working wagecuck retail jobs(can't find a real job worth shit). Idk how people make 40k + a year and don't have a substantial amount in savings/investments.

thanks KANG NIGGER

>takes 4 years to save for home downpayment

Would you make a downpayment on a hamburger or a pair of jeans? Dont buy shit you cant afford. If you cant buy it with cash you cant afford it.

Yes. That includes houses.

>this is the level pol has gotten to ladies and gentleman

literally does not know what it means to leverage money.

Please explain it to me. Let me know how going into debt is a good thing

our schools churn out drones with no skills who were taught to parrot whatever authority told them.

real median income has barely increased in like 50 years. Meanwhile the economy has done great, productivity and GDP has soared.

solutions:

stop teaching about muh oppression and learn how to add.

It's because interest rates are 0. Raise it to 10% and people will have savings again.

derp, let's rent a house for $1200 instead of locking in a payment for half that.

>American's are
> stupid?
>American's

>Women are more likely than men to have $0 saved

Oh wow, really? A demographic that works considerably less hours than men in less paid professions, but consists of 80% of all overall resource spending and who are net negative in regards to tax revenue didn't save shit?

Say it isn't so! Well I never.

For simplicity:

Let's say you get a mortgage of $100k at 4% for 10 years

Total cost = $121,494

Your 100k house in 20 major metropolitan areas in the US which grew on average 5.5% would be worth $130,232

so you had a place to live for 10 years and you made some money.

Oh, neat, thanks, you solved all my problems, I just wont have any of the things my parents could afford doing less than what im doing. Neat, ill just crawl into my hole and die. Neat, ill never be able to save any money because everything costs so goddamn much and every job I can find barely pays enough to cover my own shit. But do go one about how im stupid because I don't save money. Neat

>Be slave
>Work for food, healthcare and shelter
>Be worker
>Work for money to obtain food, healthcare and shelter

It's literally the same (((trick))) except there won't be a rebellion because you have the illusion of being free.

...

> hay pol, I'm not paying my part of obongocare
Uncle Sam will soon make sure you're paying at least 30% of your income to help all the illegals.
Your day is coming soon, lad. Very soon.

youtube.com/watch?v=JQJRaJy-aFw

live fast die fast
fucking boomers

>uni
>graduated at 26

You took 8 years to get a college degree?

Move out of your parents house and stop larping as an actual American.

>have money
>save it
>dont have enough cool shit
>niggers on the internet tell you to stop being poor because you dont have cool shit
>spend money
>niggers on the internet mad cuz you have shit
>niggers on the internet suddenly concerned you dont have savings
>repeat until the end of time.

>having money laying around in savings account instead of investing
plebs

Yea I'm sure when I finally find a real job a substantially amount of my paycheck will go to illegals and Israel
Didn't start till I was 22 man,currently working construction since no luck on a white collar job. even so why move out and pay some Jew landlord until I have another 5-8k in savings and am in a secure position financially?

Not taking a 30 year mortgage

>tfw over 10k because wanting to downpayment on home

Even this is retarded. I have 5k in a simple IRA and it's made more money in 8 months than 15k in savings has in 5 years.

"Simplicity" to the point of neglecting to factor in applicable taxes to disingenuously "prove" what you're saying.

Many Millennials dont pay bills because they Live with Parents and if they dont they wive with roommates driving down cost

Yes, my question exactly. Does this mean total saving or literally what is in your savings account? I really don't even use my local bank's savings account. I use the checking account which I periodically xfer $ into from a brokerage account. A better question is what is your net worth?

>>Millennials aged 25 to 34 are more likely than Gen Xers aged 45–54 to have $1,000 or more in savings

How is Gen X so retarded? This must be why you only hear about millennials and baby boomers, the generation in between is useless and never does anything newsworthy

Put down the Dave Ramsey koolaid and realize that you get rich with strategy, bit grit.

When you rent you pay mortgage + risk premium + market capital gains rate + profit to shareholder. There is a whole bunch of bullshit you have to pay in order for it to be worth the risk to the landlord.

When you own the house you don't have to pay these premiums anymore. You save hundreds of dollars per month, which facilitates further saving.

Taxes are only on income. Taxes are also exempt on the sale of your home up to a quarter million.

Property taxes would be paid even if you rented and are of no consideration.

You are an idiot. Your father is poor and angry because he isn't financially capable. I am sure his other lessons are fine, but he is out of his depth here. Stop parroting him.

probably has something to do with decades of immigration, stagnating wages, destruction of the nuclear family, over regulations killing small business, taxes obliterating the working class....


Must be because they are lazy
kek