• Skip to primary navigation
  • Skip to main content
Mullooly Asset Management, Inc

Mullooly Asset Management

Fiduciary Fee-Only Financial Planner | Investment Advisor in Wall, NJ

  • Services
    • Wealth Management
    • Financial Planning
    • Retirement Planning
    • Investment
    • Estate Planning
  • Our Fees
  • About
  • 732-223-9000
  • Schedule A Meeting

Services

  • Wealth Management
  • Financial Planning
  • Retirement Planning
  • Investment
  • Estate Planning

Quick Links

  • About
  • Our Fees
  • Videos
  • Podcasts
  • Blog

Support

  • Contact
  • Client Login
  • Pay Bill Online
  • Form CRS
  • Our Process
Follow us on Facebook
Follow us on Linkedin
Follow us on Twitter
Watch On Youtube

Let’s talk
47% of Americans Save Nothing

47% of Americans Save Nothing

March 24, 2015 by Brendan Mullooly, CFP®

A recent chart from Deutsche Bank’s Torsten Sløk shared on Business Insider shares a scary reality: 47% of US households don’t save any part of their current income.

47% of Americans Save Nothing
Image originally posted on Business Insider: http://www.businessinsider.com/half-of-america-doesnt-save-any-money-2015-3

Of course, as Anthony Isola put it on Twitter, “Making lemonade out of lemons, 53% save something!”. Some people truly don’t have the means to save any part of their paycheck, but many others simply don’t because they think $50 a month or $20 a week will never make a difference. They couldn’t be more wrong. The power of compounding returns will amaze you over time.

Start saving in any way you can. First, build up an emergency fund containing 3-6 months of expenses. Then, consider investing additional savings for your future. Participate in the retirement plan your employer offers or think about opening an IRA or Roth IRA if they don’t have one.

Sitting down with a good, fee-only investment advisor is a nice place to start if you’re confused about your finances. They’ll be able to point you in the right direction and get your saving and investing plans on track. Don’t forget that when it comes to saving money, every little bit helps. It sounds cliche, but it’s true.

Source:

http://www.businessinsider.com/half-of-america-doesnt-save-any-money-2015-3

Never miss a post...and we deliver!

newsletter mailman

Get our updates delivered right to your inbox. Sign up today!

Success! Now go and check your email to confirm your subscription.

There was an error submitting your subscription. Please try again.

We won't send you spam. Unsubscribe at any time. Powered by ConvertKit

Filed Under: Financial Planning, News Tagged With: emergency fund

About Brendan Mullooly, CFP®

Brendan Mullooly is a CERTIFIED FINANCIAL PLANNER™professional with Mullooly Asset Management, Inc.

1971 State Route 34, Suite 102
Wall Township, NJ 07719

  • 732-223-9000
732-223-9600
  • support@mullooly.net
  • Services
  • About
  • Our Fees
  • Contact
  • Form CRS
  • Videos
  • Podcasts
  • Blog
  • Client Login
  • Pay Bill Online
  • Our Process

The information on this website and blog do not involve the rendering of personalized investment advice. A professional advisor should be consulted before implementing any of the options presented. None of the content contained in this website should be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

© 2022 Mullooly Asset Management Inc. All Rights Reserved.

  • Privacy
  • Disclosures and Legal Disclaimers
  • Privacy
  • Disclosures and Legal Disclaimers

© 2022 Mullooly Asset Management Inc. All Rights Reserved.