Yeah, you read that right.
- Over 50% of Americans have less than $10,000 saved for when they retire. (GOBankingRates)
- 27% of Americans admit they don’t pay their bills on time (NFCC)
- About 30% of Americans don’t have enough in their emergency savings (Bankrate)
We’re all familiar with the above statements and while those declarations should afford some clarity to our personal finance world I think at this point they are as cliché as your pilot announcing for you to sit back, relax and to enjoy the rest of your flight.
On the other hand it’s rather eye-opening to realize the extent we’re willing to go to so we can avoid facing awkward conversations regarding our behavior with money. Some of them are pretty wild:
- 39% of Americans would rather disclose a preexisting STD to their partner than reveal their debts (Chicago Tribune)
- Some Americans would rather go to jail than work out a long-term financial plan (NY Post)
- 68% of Americans would rather talk about their weight than money (MarketWatch)
Isn’t it somewhat comical how creative we get when we really want avoid doing the certain things? It’s pretty obvious money is a taboo topic. It really shouldn’t be. Talk about it, learn about it, teach someone something about it and use it to grow your wealth for the better.