The summer of 1991, I took $2,000 of my savings and a desktop program, and I asked my friends to write 800 words about something they cared about. I got eight or nine articles and put them together. It was no frills, black and white, no graphics. I printed them out and just dumped piles around D.C.
It’s not just that families can’t buy a home or start a business without some savings tucked away.
Money you know you need or want to spend in the next few years is savings. Money you keep handy for an emergency belongs in savings. Money you hope to use soon for a down payment on a house belongs in savings. And all savings belong in a low-risk bank savings account or money market account.
We designed both our state employee health plans and the one we created for low-income Hoosiers as Health Savings Accounts, and now in the tens of thousands these citizens are proving that they are fully capable of making smart, consumerist choices about their own health care.
Cash – in savings accounts, short-term CDs or money market deposits – is great for an emergency fund. But to fulfill a long-term investment goal like funding your retirement, consider buying stocks. The more distant your financial target, the longer inflation will gnaw at the purchasing power of your money.
Banks hold deposits and savings entrusted to them by individuals, by businesses, by governments and by central banks. They put that money to work, helping people to buy homes, for example, or lending to businesses to invest in expansion.
There are real impacts from lowering tax rates, encouraging savings.
Don’t gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don’t go up, don’t buy it.
I read academic books on courtesan culture at the turn-of-the century in Shanghai such as Gail Hershatter’s ‘The Gender of Memory’. The diaries were mostly in the form of letters from courtesans to a lover who had disappeared or taken their savings.
The bottom line is, what are we doing to Obamacare? We eviscerate the law in our bill, and then we do things like expanding health savings accounts, which give families real flexibility. We reform Medicaid.
While we would typically encourage young people to start saving for the future as early as possible, it’s unlikely that a budding entrepreneur will be able to do so. The entrepreneur will need every bit of capital available for the business, which will likely crowd out personal savings.
Businesses are no longer receiving the cost savings from outsourcing that they once did.
Your goal should be to pay off your credit card bills in full at the end of each month and set aside money toward your emergency savings.
It’s time to stop the raid on the Social Security trust fund and start allowing Americans to invest their Social Security taxes in personal savings accounts.
