Earn & Invest 597. Are You Saving Enough? Community Episode
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Jan 23, 2025 Join Joe Saul-Sehy, creator of the Stacking Benjamins podcast and author of 'Stacked,' along with community member Matt Sly, as they dive into people's dissatisfaction with their savings. They explore the psychology behind savings behaviors, especially among younger generations, revealing an optimism that contrasts with the current economic climate. The duo examines how media influences financial choices and discusses the disconnect between perception and reality in today’s financial landscape, all sprinkled with humor and insightful predictions.
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Consumer Confidence
- Consumer confidence is a crucial economic indicator.
- Confident consumers save long-term, while uncertainty leads to holding back funds.
Personal Savings Experience
- Matt Sly maintained savings rates despite increased spending.
- His family began drawing from a college fund, similar to starting retirement withdrawals.
Defining Savings
- Doc G questions what constitutes "savings."
- He asks if automatic 401k contributions and investments are included or just savings account balances.