X% of Americans Don't Have $1,000! (Shocking Stat)

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.7 • 3.1K Ratings

🗓️ 26 February 2024

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

A shocking amount of Americans don’t have $1,000 in savings. In this Q&A, we’ll discuss the latest data, how that number has changed over the years, and different ways you can beef up your savings. Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	It's the stat you've been waiting for what percentage of Americans can come up with a thousand dollars.
0:14.0	I am excited because I think this is something that we can change.
0:18.4	I think in this little engine that could of the Money guy show I think that we can slowly
0:23.4	start to chip away at this and actually improve upon this number to make
0:27.8	Americans better with their finances. Well I like giving everybody a little peek behind the curtain.
0:34.0	About late January, because it varies, to first week in February I start asking the
0:40.2	content team.
0:41.2	Pounding.
0:42.2	Pounding. I'm like, hey, I'm like, um, hounding, you said not pounding, hounding.
0:47.0	I'm always like, what, guys, it's Bankrate got their new percentage out.
0:50.8	I want to know, because you can pretty much set your clock
0:53.1	it's going to be somewhere close to 60% of Americans but it does vary. Yep.
0:58.0	Every year and if you want proof that we've been tracking this for a while
1:02.0	Daniel has created this awesome slide. Don't proof that we've been tracking this for a while.
1:02.8	Daniel has created this awesome slide for us.
1:05.2	Check this out.
1:05.9	Since 2015, we've been kind of following along and watching this.
1:10.1	And you can see there have been years
1:11.4	that we've been as high as 63% of Americans.
1:14.9	Can't come up with a thousand dollars. We've been as low as 56% and that was kind of post-pandemic.
1:21.2	And then, you know, last year of 2023 57% so Bow without much more do you want to do
1:28.7	want to reveal for this year I want us to think about this right let's think about what's
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.