HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » The economy is booming. B...

Sun Jun 23, 2019, 12:34 PM

The economy is booming. But are Americans' finances healthier because of it?

If you had to grade the U.S. economy today, it would probably get straight As.

The country is a month short of the longest economic expansion ever. Unemployment is at 50-year lows. Stocks notched the longest bull market last year and are again nearing fresh highs. And U.S. home values hit a record high in the first quarter.

But a survey of Americans finds their individual financial security is less clear than those collective highpoints suggest.

-snip-

Worrying signs

The survey, though, revealed a host of concerns about Americans’ finances.

Retirement savings: Only 58% of Americans have a retirement account, a figure that hasn’t hardly moved in 10 years, according to the survey's history. And half worry they may run out of money while retired.

-snip-

Health care costs: While most Americans have health insurance – 87%, according to the survey – medical costs remain a strain. Nearly three out of 10 avoided a medical service because of cost last year, including a quarter of those with health insurance. Just under 1 in 4 have past-due medical bills.

Student debt: Nearly half with student loans wished they’d gone to a cheaper college. About half didn’t fully understand how much they would owe, and half worry they won’t be able to pay off their student loans ever, the survey found.

-snip-

Savings and debt: Even though Americans can make ends meet, the percentage spending less than their income has stayed nearly unchanged over the decade. Almost half haven’t set aside money to cover expenses for three months. And 37% say they have too much debt, the FINRA Foundation found.

-more-

https://www.msn.com/en-us/money/markets/the-economy-is-booming-but-are-americans-finances-healthier-because-of-it/ar-AADa2Z3?li=BBnbfcN

2 replies, 434 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 2 replies Author Time Post
Reply The economy is booming. But are Americans' finances healthier because of it? (Original post)
Yo_Mama_Been_Loggin Jun 2019 OP
happyaccident Jun 2019 #1
Sherman A1 Jun 2019 #2

Response to Yo_Mama_Been_Loggin (Original post)

Sun Jun 23, 2019, 12:57 PM

1. The unemployment rate is bullshit, stocks are for the rich

 

Who cares if employers can fill their jobs if you can't live off the wages? And 84% of all stocks are owned by the upper 10%. That 84% is 11% higher since 2008. Recessions are used to drop asset prices and increase debt. This is good business for foreclosures and banks. The tax cut went mostly to stock buybacks not to worker's wages. Warren's idea of giving workers 40% representation on corporate boards is a start, next thing- profit sharing. I don't look at the news to tell me about this, I just look at my community for the real truth.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Yo_Mama_Been_Loggin (Original post)

Sun Jun 23, 2019, 01:25 PM

2. This is why I support Universal Basic Income

As proposed by Andrew Yang.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread