Theory or optimism is one thing regarding saving and its vital place in
human economy--but the cold, hard facts, _checked after the funeral
is over_, are quite other things. Even in a land of comparative
plenty like America the baring of the secret closets of life indicates
how men and women live and die in relation to financial dependence or
independence.
The American Bankers’ Association made an analysis some few years ago
as regards 100 average men, which rips the doors open. The average
situation at various ages, for men only, is as follows:
_Age 25_
100 Average men, healthy and vigorous in mind and
body and dependent upon their own exertions
for their support.
_Age 35_
5 have died
10 have become rich
10 are in good circumstances
40 are in moderate circumstances
35 have not improved their condition
_Age 45_
11 more have died, 16 in all
4 only are rich, all the others rated at age 35
as having resources having lost their accumulation
65 are still working, and are self-supporting,
but without other resources
15 are no longer self-supporting owing to illness,
accident, etc., a few still earning something
but not enough for self-support
_Age 55_
4 more have died, 20 in all
1 has become very rich
3 are in good circumstances, but not the same
3 quoted at age 45, for one who was rich at
45 has lost everything, and another not
rated rich at 45 has taken his place
46 still are working for their living, without
any accumulation
30 are now more or less dependent upon their
relations or upon charity for support; some
still able to do light work are being replaced
by younger men
_Age 65_
16 more have died, making 36 in all out of 100
1 is still wealthy
3 are rich, 1 of those who lost everything before
45 having again become rich
6 still at work; self-supporting
54 are dependent upon children, relations or charity
_Age 75_
27 more have died, making 63 in all, 60 of
whom left no estate
2 only are rich, three who were rated as rich
at 65 have lost their accumulation
35 are dependent upon children, relatives or
charity. These old men will die off rapidly,
but their financial condition will not improve,
and 33 of them will not have sufficient means
to defray funeral expenses unless insured