Americans Feel Financial Security, Despite a Low Savings Rate

The Bankrate Financial Security Index for June hit its third-highest level ever. It showed that while many Americans are feeling a sense of financial security, a low savings rate could still put them in danger on a rainy day. Bankrate has been publishing a monthly measure of Americans’ sense of financial security since 2011, which includes data on the savings rate of survey respondents, and lately the index has taken off. It has recorded 13 consecutive months of positive feelings from survey respondents regarding their financial security, and all three of the highest readings recorded over the last five years have come in 2015. But June also saw a jump in the proportion of respondents who reported having no savings to cover expenses in the event of an emergency. That’s the opposite of financial security, and the overall savings rate revealed by the survey paints a picture of increasing wealth inequality. Check out this video for my take on the divergent levels of financial security and savings for people in different income brackets. If you haven’t already, be sure subscribe to my YouTube channel for the latest real estate tips and news: And pick up my Intentional Investor Series on to learn everything you need to know to become a successful investor in real estate: Looking for more of my real estate and personal finance tips? Read my blog: See my tweets: Follow me on Facebook: To read Bankrate’s Financial Security Index report, click here:
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Star of Discovery Channel’s “Undercover Billionaire,” Grant Cardone owns and operates seven privately held companies and a private equity real estate firm, Cardone Capital, with a multifamily portfolio of assets under management valued at over $4 billion. He is the Top Crowdfunder in the world, raising over $900 million in equity via social media. Known internationally as the leading expert on sales, marketing, and scaling businesses, Cardone is a New York Times bestselling author of 11 business books, including “The 10X Rule,” which led to Cardone establishing the 10X Global Movement and the 10X Growth Conference, now the largest business and entrepreneur conference in the world. The online business and sales educational platform he created, Cardone University, serves over 411,000 individuals and Forbes 100 corporate clients throughout the world. Voted the top Marketing Influencer to watch by Forbes, Cardone uses his massive 15 million plus following to give back via his Grant Cardone Foundation, a non-profit organization dedicated to mentoring underserved, at-risk adolescents in financial literacy, especially those without father figures.