People who spend money on experiences, such as vacations or concerts, tend to be happier than those who spend money on material possessions.
There is a sense of lasting satisfaction that experiences bring and material possessions cannot give. Experiences usually involve some kind of social interaction, learning or growth, and often produce lasting memories. Material possessions may provide a short-term satisfaction but tend to quickly lose their novelty and don't always provide the same sense of fulfillment. Experiences also tend to bring people closer together and help us gain a better understanding of ourselves and the world around us, allowing us to appreciate life more fully.
Over the past century, the stock market has provided a greater return than inflation, meaning that investors are able to maintain the purchasing power of their money over time.
This is because stock prices typically rise over time due to the growth of companies and the economy as a whole. As companies become more profitable, their stock prices tend to rise, resulting in a higher return for investors than inflation. Stocks are also more volatile than other investments, providing the opportunity for investors to capitalize on short-term gains in the market, which is sometimes done automatically through normal account maintenance. This higher return over inflation helps investors maintain the purchasing power of their money over time. [Past stock market performance is not indicative of future results.]
On average, Americans save just 5.8% of their income, which is lower than most other developed countries.
Our country is home to some of the most expensive cities in the world, which can make it difficult for many people to afford to save money. Many Americans also incur high levels of debt due to the cost of living, leaving them with little disposable income to save.
Fascinating Financial Facts | March 2023
March 15, 2023