By Brent P. Thomas, CPA/PFS
Seventy-two percent of Americans are saving something every year, according to a recent Capital One study. The average saver sets aside 6.4% of their income. Less than 20% are saving more than 10%, and 25% save nothing.
That is a pretty dismal savings rate, especially when actuary studies show that for every 65-year-old married couple living today there is a 47% chance that at least one of them will be living at age 95.