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What is the average savings rate for the US
3-5%
How many Americans didn’t save anything in 2018?
50%
What percent of Americans are living paycheck to paycheck and are at risk of catastrophe?
60%
What percent of Americans have no emergency savings for unexpected expenses?
26%
How many Americans cannot handle a median medical expense of 1000$ at this moment?
50%
How many American Millennials cannot handle a median medical expense of 1000$ at this moment?
60%
How many social security recipients say its their only source of income?
70%
Examples of assets
car resale
checking account
savings account
life insurance cash value
401K
jewelry
Examples of liabilities
credit cards
mortgages
auto loans
business loans
student loans
How does the rule of 72 do?
You are looking to see how much to invest for how long to double your given amount of money.
How do you calculate the % investment for the amount of time in which you’d like to double your investment? (e.g. I want it done in 25 years)?
72/# of years
How do you calculate the # of years it takes to double the amount of your investment?
72/% you would like to contribute
one budgeting mistake is failing to:
save for expenses before they happen
examples of expenses that need to be saved for before they happen
car maintenance (of several kinds), clothing, gifts, travel, hospital bill
one budgeting mistake includes not saving:
automatically or when your check first comes in
one budgeting mistake can be not having this sort of account:
emergency savings
What sorts of things is emergency savings supposed to cover?
medical expenses, loss of job, major car repairs, major home repairs, unexpected events
Note 
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