Global Finance Training the ins and outs of money

Saving

Why save?

To take care of emergencies. Only around a quarter of Americans say they could cover an unplanned expense of USD 2,000, according to a Forbes article citing this study.  

For retirement. What matters most is the number of years you save and the rate at which you do it, according to this Economist article. Indeed, it suggests that if you want to save 50% of your final salary, with the Government covering the rest, you need to save 8.8% for 40 years or 16.6% for 30 years.