Rolling the dice

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According to the American Institute of Certified Public Accountants, Americans - yes, us -- between the ages of 25-34 years old face some real challenges because of their spending and saving patterns. The number of people in this age group having interest bearing accounts and other saving instruments declined 10% in the past 20 years. Just a simple saving account with a bank fell from 65% to 47% during this time period. Yes, maybe this $$ is going into the stock market, maybe into housing (not the best investment these days) or maybe it is being put under their mattress. The bottom line is that not enough research has been done in this area ---- to understand the impact. It is clear, however, that 25-34 years olds are willing to roll the dice and take on debt. Are you doing this? Are you gambling on the fact that if you pass away your family will have to cover this debt for you. Even if you don't like all your relatives, it is probably not the right thing to do, eh?

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