Thursday, March 19, 2009

Got 2 Months' Savings? 50 Percent Say No

Oh, how the dorky stats-grabber in me loves the annual MetLife "American Dream" surveys. The 2009 version can be found here:

MetLife: 2009 MetLife Study of the American Dream

MetLife conducted 2,243 online surveys in the U.S. and came up with the following figures regarding Americans and our financial positions:

Chart: 2009 MetLife Survey

(By they way: Before resizing the graph, the sixth item read: "Feel 'Buyer's Remorse' Or Wish They Had Spent Less Over the Years")

And here's a snippet I found intriguing:

Americans are placing a premium on protection and stability. Across generations, eight in ten say having a personal safety net will be more important this year than last. However, nearly three quarters (74%) of Americans admit to not having an adequate safety net. Currently, Americans count auto insurance (60%), health insurance (57%), life insurance (46%), homeowner’s insurance (45%), a retirement savings plan such as a 401(k) (40%), and cash on hand for 3-6 months (35%) as the top six components of their safety net. Among Americans who do not feel they have adequate protection, nearly two-thirds (62%) desire cash on hand for 3-6 months as the product they would most like to have in their safety net.

The MetLife study itself is a 38-page pdf, and chock full of graphs for us uber-nerds to peruse. One thing seems evident: The economic crisis is morphing Americans' attitudes regarding their financial safety, and causing them to take a deeper look at just what it is that comprises the "American Dream."

Better late than never, I suppose. Unless, of course, it's already too late.


— Posted by Michael @ 8:04 AM


Great stats. You're a lot like me- love those statistics! :)

I'm actually taking a business stats class right now in school.

Anyway- thanks for the graph. Kind of scary stuff if you ask me.


I find your statistics very interesting and your post very informative too.


I believe the lack of a safety net is what is leading to a lot of sleepless nights in America right now. Hopefully, a good thing can come from this crisis, that being there are more important things in life than always shopping. Peace of mind by having money saved during these times is priceless.

** Comments Closed on this Post **

Thoughts on my personal finances, goals, experiences, motivations, and accomplishments (or lack thereof).

My financial life began turning around when I took responsibility for it.
— Dave Ramsey


Start (2005-12): ~$21,900
Currently: $0
[About Our Debt Paydown]


Savings Goal: $15,000
Currently: ~$15,115
[About Our Liquid Savings Goal]