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Originally Posted by Broken Arrow
Anybody know why the savings rate was so high back in the 90's?
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Quote:
Originally Posted by kork13
So actually, BA, the question should be "Why has it gone down so much?"
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Exactly, kork. BA, the savings rate was always up there until recently.
To be fair, though, if I'm not mistaken, the official government calculation of the savings rate does NOT include money put into an employer-sponsored retirement plan like a 401k or 403b. Years ago, those plans didn't exist or weren't nearly as popular once they did exist. Today, someone who puts 15% of income into a 401k but doesn't save anything else would show up in the stats as having a 0% savings rate which obviously doesn't make sense.