Any financial planner worth his salt will tell you you should save about 10% of your gross income for a retirement account and have enough money in a savings account to cover 3-6 months' worth of regular expenses just in case something happens (Like you lose your job).
Yet here we are, the richest nation in the world and we have one of the lowest savings rates in the world. Europeans save about 8-10% of their income on average. Americans? Even in Recession we can barely break a 5% savings rate.
So statistically speaking, there are several people on this forum who do not save nearly enough money for retirement or emergencies. So I ask you guys. What's up with that? Instead of buying that $600 iPad, why not buy a share of Apple stock? Instead of blowing $5 on a coffee in the morning, why not put that $5 in a savings account?
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