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One can save quite a bit if one does not waste money drinking, smoking, using illegal drugs, gambling & partying. Then after saving, there is money left for various charities & perhaps a modest vacation.
The ironic thing is the Federal Reserve and the Treasury have been saying for years that the national savings rate is too low, but then they turn around and institute a zero interest rate policy for years. That policy essentially stole all of the interest that savers should have been earning for all those years that rates were held artificially low. Is it any wonder that Americans don’t save? There’s no incentive to do so. The Fed and the Treasury have both made it clear that they care more about borrowers than they do savers. And you can take that to the bank.
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