By J. Money

According to the latest Smart Money magazine, who nabbed the stats from the World Bank, the United States’ savings rate is only around 10% – MUCH lower than many other countries like India (28%), Switzerland (32%) and even China (51%!!!). Scary, huh?

There’s a whole bunch of reasoning behind it which I’ll share here in a sec, but needless to say we all gotta kick it up a notch if we’re serious about living a comfortable life later!  I don’t even know how you could live off of 10% in retirement, do you?!  Unless you’re gonna drastically cut your lifestyle, or your bringing home pimp daddy amounts right now, it’s probably best to start saving much MUCH more.  Maybe even 25%? (I think 20% is the “norm” advisors usually... More...