how many americans have more than one million in savings excluding primary home?
449948
I don't know what article you read, probably propagana for whatever purpose the writer only knows. I'm over 40 years old, and out of all the people I've ever met in my entire lifetime, maybe 1 or 2 had a million dollars in savings. I've probably met almost a million, and the ones that had a million, were driving in their car past me. (if I ever did meet anyone with a million, I didn't know it).
952648
I live in NY State (highest taxes in the USA). I'm single but I do have a bf. I own my home and a few acres of land. I'm very comfortable and make $85,000 a year. My bf makes $70,000 a year.
682541
Not in the least.  The monetary and medical benefits are still too high to pass up.  Living together is a sucker's game.
65378
go to Forbes.com 400 wealthies Americans list for exact answer\n\nit's in the range of 4-5 billion which'll buy a lot of pizzas
719362
Not necessarily - there is an exclusion of $250,000 for single and $500,000 married filing jointly, assuming that you meet certain tests regarding use and occupancy. See the publication linked below.
354931
Savings actually form the foundation of civilization. For a great primer on the importance of savings, check out the following article:\n\nhttp://www.mises.org/story/1596\n\nScroll down to the section called "The basics of the pool of funding concept"
679011
I'm not even middle class - I'm living paycheck to paycheck these days - divorce & my mom's medical bills decimated my savings & I can't seem to recoup. I reckon folks like Paris Hilton don't actually ever have to worry about money & I'd say the Bill Gates' types of the world have enough to cover their future progeny for several generations to come. Not me; I am scraping by.
909025
No they dont, but in most states 20% of all earning do go to a mandatory savings account that allows them to have money when they get out. \n\nIn Oklahoma, the maximum level of income fall under a special service such as maintenance or bakers who earn $37.50 a month. Therefore each month these people have $7.50 goes into thier account. This is also nontaxable but on the same token, they dont earn interest on it either.
1052265
It grew to 10% in 2004 and it is estimated that 1 out of every 20 houeholds - there's a millionaire.....I wish they would stop skipping my house!  Of course, if you don't buy lottery tickets and the like -the chances are slim pickens. America - Get Rich Quick. Be broke in 1 year.
873035
I believe the answer is b, as the bank keeps a $100 000 reserve (10%) for $1 000 000 outstanding loans - and that this is a closed system. \nI'm not sure about the multiplier though - that's the ratio of saved income - I don't know how you're supposed to figure it out from that data.
181959
USD 500 Trillion to 1 Quadrillion in personal assets \nthis figure does not include assets owned by governments, religious groups, or illegally acquired wealth
62130
Yes. Saving is not about Big Numbers. It isn't even about Little Numbers Across A Long Time. It is about Consistent Numbers Across Any Time.\n\nSaving money certainly involves "not buying stuff." But this view is far too narrow. So long as saving is equated with sacrifice it will be an uphill battle to save. Having day-to-day life that is as stress-free as possible is very important. Continual sacrifice and stress-free living clash harshly for many people. Some people focus on changing lifestyle-related choices, sometimes called the "latte factor," as a method for realizing day-to-day savings. I agree that this is good advice for some people, but as a first step it isn't necessarily the most effective. There are other things that can be done, too.\n\n1. Reduce monthly fees. Stop paying banking fees for services you don't use or don't need. Many banks charge monthly "service fees" or "maintenance fees" for checking accounts. If your bank offers "free checking" or "free checking with Direct Deposit" (and you have Direct Deposit) switch your account, or find a bank that does offer "free checking." Even the smallest leak in any plumbing system will eventually collect enough water to fill a bathtub, so to will even the smallest recurring monthly service fee eventually steal one month's rent.\n\n2. Detemine a reasonable monthly budget. It is important to know "where it all goes." Rent, utilities, cell phone, car payment, insurance, groceries. There is no doubt these numbers exist, but most importantly nearly all of them can be known in advance. Some of them can't be known exactly, but they can be estimated. My advice is to estimate unknown amounts not for the sake of accuracy ("The cell phone bill is usually $40.00 per month."), but for the sake of certainty ("The cell phone bill has never been more than $80.00 in any month."). In the beginning of making and using budgets, budgets work best when costs are overestimated rather than underestimated. It is far less uncomfortable to have "too much" money left at the end of the month than it is to have "too little" left over--and bills still to be paid, at the end of the month.\n\n3. Begin saving automatically. If your employer offers Direct Deposit, and you can open a "free checking" account (with or without Direct Deposit), use this financial automation to the maximum. Open a second checking account. Then contact your HR department to request that your paychecks be split across your two checking accounts.\n\n4. Separate paying bills from saving and investing. Use your primary account for all monthly expenses: rent, utilities, food, car payments and pet food. This is your "Cash" account. The second checking account is dedicated for saving and investment purposes. You won't draw funds from this "Investment" account to pay bills. That isn't what saving is about. Saving is about having money available to fund medium-term and long-term goals. Things like retirement, paying college tuition or buying a home. The "Investment" account will drive all of your automatic saving and investment mechanisms. Similar to Direct Deposit, Automatic Withdrawals can be scheduled to transfer funds from your "Investment" account.\n\nHere is how to implement the above steps.\n\nLook at the ING Direct website. ING has savings accounts with excellent interest rates, without no minimum required balance. In addition look at the Vanguard website. If you don't have an IRA, 401k or any other kind of retirement account Vanguard has the lowest custodial costs ($10.00 per year) and lowest minimum required balances (usually $3,000.00) of any financial services company today. Accumulating enough money to open an account with Vanguard may take some time, but getting started saving with ING Direct is something that can occu
480473
ironically, none...i opened an account for my 2 kids at age 3 & 4...they are now 17 & 18...i wish my parents would have done the same for me...they both have more in their savings than i do at the present time...lol
228694
Absolutely not, in most cases, and the people who are hawking these mortgages are in part directly responsible for the coming economic ruin of many homeowners.\n\nThe home is the last bastien of financial security for Americans.  You work hard all of your life to own your home.  You get equity in your home.  However, if you're paying interest only, you're getting no equity in your home at all (unless your home appreciates in value).\n\nYes, you're lowering your payments, but you're not putting anything in your own pocket.  If you take out a $200,000 mortgage and pay interest only for seven years, at the end of the seven years, guess what?  You still owe $200,000.  I liken an interest-only mortgage to renting.  \n\nThe only time it would be advantageous is if you KNOW you're not going to stay in the home longer than a couple years.
1199
According to Forbes, there are 374 Billionaires in the US (26 of their Forbes 400 richest Americans are NOT billionaires).  http://www.forbes.com/free_forbes/2005/1010/089.html\n\nAccording to http://answers.google.com/answers/threadview?id=6330 , there were 17.1 Million Millionaires in the US in 2002.\n\nAccording to one source, 1 in 125 Americans are millionaires (as of 2004).  http://www.globalpolicy.org/socecon/inequal/2004/0615millionaires.htm\n\nPartial answer, partial credit?  Hope it helps.
17128
If you invest $14,600,000,000 in a savings account that pays 2.5% annual interest, compounded daily, you will have earned $1,000,000 in interest in one day.\nAlternatively, you could ask one million people for a dollar each, or 10 million people for a dime each, or 100 million people for a penny each.  Personally, I'd go with the penny.
279974
I am not counting on it,trying to put as much as possible in 401(k) and also trying to purchase a second home.Would also Like to do is put my eggs in different baskets.