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