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View Diary: Economics Daily Digest: From Latvia with love (7 comments)

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  •  With current interest rates offered at Banks or CU (0+ / 0-)

    for savings accounts, actually having money in savings is just throwing money away.  With the average money market account paying just .46% in interest, and inflation around 2%, you are better off spending it.

    I actually wonder what percentage of people who have no savings have some kind of retirement vehicle that they would go to (taking the penalty) if they lost their jobs or had something come up.  This is a terrible alternative, but I think there are plenty of people who wouldn't even save if they could do to the lack of any kind of financial incentive to do so.

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