Americans Feel Financial Security, Despite a Low Savings Rate

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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: http://www.youtube.com/subscription_center?add_user=expertrealestatetips And pick up my Intentional Investor Series on thinkglinkstore.com to learn everything you need to know to become a successful investor in real estate: http://thinkglinkstore.com/collections/frontpage/products/the-intentional-investor-complete-series Looking for more of my real estate and personal finance tips? Read my blog: http://thinkglink.com See my tweets: http://www.twitter.com/glink Follow me on Facebook: http://www.facebook.com/ilyceglink To read Bankrate’s Financial Security Index report, click here: http://www.bankrate.com/finance/consumer-index/americans-still-lack-savings-despite-wage-growth.aspx
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CEO of Cardone Enterprises, Cardone Capital, international speaker, entrepreneur, and author of The 10X Rule & creator of 21 bestselling business programs, Grant Cardone owns & operates seven privately held companies and a $5.2 billion portfolio of multifamily properties. Named the #1 marketer by Forbes Magazine, Cardone is also the founder of The 10X Movement & The 10X Growth Conference, the world’s largest business & entrepreneur conference.

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