smart spending

Feb. 2011: Savings

 

Q:

How do you feel about the amount of money you have in savings compared to 12 months ago?

More comfortable with their savings Dropped from 19 percent in January to 15 percent.
Less comfortable with their savings Unchanged from January.
Women were much more likely than men to be less comfortable, 44 percent to 32 percent.
Harold Evensky

"Beginning to learn what that nest egg needs to be."

People are becoming more aware of how short their savings really are. Even if their portfolio has grown by 20 percent, instead of now being 50 percent short of where they need to be, they're 40 percent short. I think more and more people are becoming in touch with how difficult it is to save. Now that people are paying attention, they are beginning to learn what that nest egg needs to be. And they are realizing that even though the market has significantly improved in a year, that doesn't put them anywhere near where they need to be.

- Harold Evensky, CFP and president, Evensky and Katz Wealth Management

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