It’s hard (for me at least) to comprehend this. I look at the data on how Americans spend their money. I look at all the spending on non-necessities.
Yes, it is sad.
by Financial Samurai
I recently stumbled across a fascinating chart by Deutsche Bank highlighting that more families than ever before have ZERO or NEGATIVE non-home wealth. In other words, roughly 30% of households have no 401k, no IRA, no after-tax investment account, no private equity investments, no venture debt investments, no nothing beyond the value of their primary residence!