We’re happy to report another tidbit of good news about the nation’s economy. The Commerce Department reports the overall savings rate is up. So we’re tucking away more dollars than the government previously estimated. On this edition of MoneyWise Live, Steve Moore and Rob West talk about how this news affects you, then he takes your questions at 800-525-7000.
Rob goes over these encouraging numbers about the nation's savings rate.
Then he discusses what is the probable cause for the nation's increase in savings.
Then he explains why wages are still stagnant and how saving more is affecting the economy.
Finally, Rob ties saving back to God's Word.
Next, Rob and Steve tackle listener questions at 800-525-7000 and via email to Questions@MoneyWiseLive.org on a variety of topics:
- If you got a late start with your 401(k) and are age 55, should you invest everything in one stock to catch up?
- How does an emergency fund work; should it cover car repair and home repair?
- If your lifelong financial advisor, of whom you depended upon him a lot, just passed away, how do you move forward?
- If you have $32,000 of home equity line of credit debt and $35,000 in a car loan countered by $5,000 in a money market and $20,000 in checking, should you continue to add money to your savings or focus on paying off the car loan?
- If you just graduated from college with no debt and all funds currently in a savings account, what would be a better way to invest that money?
- What is the reason for starting with a Traditional IRA 401(k) and then switching to a Roth IRA later on?
- Is "Day Trading" biblical?
- How do you calculate how much a mortgage you can afford by your salary?
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