Appalling. Pay yourself first. Live within your means.

For me, that goes with: Have extra ammo and emergency food.

I have lots of savings. I was married to a man who spent everything and then some. It scarred me. I can't stand to be in debt.

Which means they have no savings at all.

Subtract those under 20 who traditionally save very little and single illegal immigrants who send every spare dollar home to help others. Thus adjusted, maybe only 20% are totally broke adults.

And Obama's administration will announce it is 2% just before the election, why quibble about a decimal point.

I don't think I'd be able to tell the truth if someone asked me about how much money I had in savings or anywhere else.

47 & don't pay income taxes either. means living pay check to pay check or welfare payout to welfare payout

I grew up with frugal parents and even more frugal grandparents.

It's better to live below your means.

For more years then I care to remember, I have told my children, and others that the key to financial freedom is two sentences which total seven words----refer to poster #1!

Additionally, I highly recommend a book titled "The millionaire next door", (authored by two men whose names elude me)

While it bog's down in parts with details, it is a superb guide to simple common sense, and financial piece of mind!

Of those who don't have two nickels to rub together, how much of their body is covered with tats and if they are female, how much have they spent on nails and hair. And when things get tough, they want me to bail them out. Pffffffft.

I have lived around family and friends whose lifestyle was and is spend now save never. If you're always chasing and never changing habits forgetaboutit. When society can decipher between wants and needs were in trouble.

I couldn't determine from this article if they counted 401k's as a liquid asset. I normally have a few thousand bank savings on hand, but rely on my 401k as a backup. My plan allows me to borrow up to 50K and loans are processed within a week. For me that's a liquid asset. Lots of comments after the article blaming the administration and the economy for thier lack of savings, but if your not taking advantage of a company matched 401k, your pretty dumb.

I HAD savings but I ran through them all during my 1+ year of unemployment. I had to live on something and unemployment wasn't enough to cover my bills. Now I have to rebuild my nest egg at 48 and hope I have enough. And that's hoping I keep my job.

We are retired, fixed income but we make sure we save some money every month. Over the years we learned, it is nice to have something to fall back on...you never know.

If I ever got down to that level of liquid assets, I would not be able to sleep. And, being sleepless, I would go out and find a job at an all night burger joint and earn extra dough to put into savings. But, thanks be to God, I learned frugality at an early age. And, I was raised on a ranch, so I know how to feed myself.

Shocking really, I was taught like those above, live within your means and save, save save!!! since I married I have not worked outside the home much just a few years here and there. I have no retirement or SS so I saved money myself each month for my own retirement. I have money saved and don't have to rely on pensions that might not be there and SS which probably won't be there either. So many called me stupid for not working for the benefits, yea I don't look so stupid now!!!

The best compliment our very liberal kids gave us was that we taught them the value of money. When my son wanted a Nintendo in the 80's, we made him pay for it himself from allowance and birthday money. Our daughter chose a college that gave merit scholarships, not just need based scholarships. She graduated with no debt.

Now if we can just fix the liberal part...

The reason that most of them don't have more savings is that they never learned to prioritize their spending nor live a little under their means so they could save.

I have no sympathy for those who seem to have enough money for all the goodies like cell phones, cable TV, Xbox sets, drugs & alcohol, manicures & salon hairdos, fancy duds, expensive cars and vacations, but not enough to pay their rent, buy food, afford health insurance, take care of monthly credit card bills, etc.

Their priorities are backward and that's not my problem. I resent having my taxes go to such spendthrifts and neer-do-wells.

I cannot sleep without savings. But I am older and wiser now. My daughter (23) bought Dave Ramsey's course and now has the amount saved he said she should have, so she is very pleased with herself and I am too! My two boys spend it as fast as they earn it. I never had money saved until I was older.

Well if they just lost $4500 in income due to Obama, why are they surprised?

Perhaps the question should be how much have you lost since 2008 ? Many were self employed and spent their money on medical bills and survival in the last four years.

I wonder if those 4 in 10 with savings of $500 got that by selling food stamps. After all, as Peelousy would say, food stamps is what runs the economy.