Smart Savings for a Brighter Future

Entry for iOme challenge, 2010.

Transcript:
Is your economy under-performing? Is your Social Security system capable of supporting you through your retirement years? Do domestic businesses depend on foreign capital to finance investment? Do you lie awake at night worried about what will happen if investors abroad suddenly decide to stop purchasing U.S. government debt?

If you are experiencing any of these symptoms, your country may be suffering from a condition called low Personal Savings Rate. Without proper treatment, a low personal Savings rate may lead to increased unemployment and a lower quality of life.

Fortunately, there is a simple and effective treatment. Increase your personal savings rate to at least 6% of your pretax income. Household saving is an important source of funds to finance domestic investment and a way to ensure that you can live comfortably in retirement. A high personal savings rate may even contribute to long term, sustainable growth in your economy.

A 6% PSR is not for everyone. Some individuals may need a higher savings rate. Talk to a your financial advisor and ask if 6% is right for you.

6%. Smart savings for a brighter future.

Category:

Education

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