TIAA-CREF

Getting paid $50,000 to raise the savings rate

In April, the personal savings rate—the percentage of disposable income that people don’t spend—went up to 3.6%. That’s higher than it was in March (3.1%), but still far lower than many economist types were predicting this time last year. Back in early 2009, there was talk that thanks to the Great Recession Americans were embarking …