Monday, July 2, 2007

Most Americans do have sound financial foundation

Source: Liz Pulliam Weston of msn.com

Most households in America:

Are saving at least something for retirement

Eight in 10 workers participate in their company retirement plan, and 38% have an individual retirement account.

Only 16% of working-age people have no retirement savings.

Avoid credit card debt

One-quarter of the nation's households have no credit cards, while another 30% pay their balances in full every month.

Of the rest, half owe less than $2,000.

Have their total debt under control

Only about 11% of households, owe more than 40% of their incomes to debt payments.

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