Half of Americans are saving next to nothing [View all]

[Liberal_in_LA]

When it comes to saving, we aren't doing enough of it.

Roughly half of Americans are saving 5% or less of their incomes, including 18% that are not saving anything, according to a survey from Bankrate. Only about a quarter of people are saving more than 10% of their earnings.

So how much should you be saving? Bankrate recommends 15%.

"Between emergency savings and the ever-increasing burden of retirement savings that is on the individual, the goal should be 15% of your income," said Greg McBride, the personal finance website's chief financial analyst.
Currently, one in seven people are saving more than 15%, the report showed.
http://money.cnn.com/2015/03/30/pf/income-saving-habits/index.html