Where’s the money coming from to go into the federal IRAs? Only $1,000 matching?
And debt erased most savings.
The Best is Yet to Come?
Too little too late.
We’s gonna be KANGS!
Kermit, post 401(k)
Debt tore the cornhole out of him!
The end won't be for everyone.
The average American family owes roughly $63,000 to $66,000 in total debt, while the median household transaction account balance (including savings, checking, and money market accounts) sits at $8,000.
Debt Overview
• Total Household Debt: Reached approximately $18.8 trillion nationwide.
• Credit Card Debt: The average credit card balance is around $21,000 per household (with total U.S. credit card debt near $1.26 trillion).
• Other Major Debts: Mortgage debt averages $252,000 (where applicable), auto loans total $1.71 trillion across the country, and student loans make up the remainder.
• Debt-to-Savings Warning: Roughly 33% to 36% of Americans have more credit card debt than they have in emergency savings.