Thursday, October 18, 2007

Debt in Suburbia

Money magazine talked to 3 couples in suburbia on how much they make and how much they save for retirement. They are mostly in their late 30's and they have 401ks. They talk about the peer pressure of keeping up with the neighbors with cars, vacations, toys.

Their stories remind me of the tale of the ant and the grasshopper. The grasshopper is happily spending his summers enjoying, and not saving for the future, but the ant works hard and saves food for the coming winter. I think the Wrights have a good start to saving for a comfortable retirement.

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