Maybe it was when they saw their net worth plunge or came to the realization they might outlive their income. For whatever reason, Americans are getting better at saving.
The US savings rate could rise as high as 6 percent in the wake of the crisis, according to a recent study by Allianz Group Economic Research.
"We have witnessed a surge in the saving rate since early 2008, up to an average of 4.6 percent in 2009," said Allianz SE Chief Economist Michael Heise in a statement. "We anticipate that products, such as mutual funds, annuities and equities, will benefit from this change."
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