The Commerce Department releases savings rate data quarterly as a way to measure the difference between total income and total expenses for all Americans. As recently as the 1980s, Americans' savings rate was stable at around 10 percent. In 2005, it sunk below zero. This marks the eighth consecutive quarter during which the U.S. personal savings rate was negative. The only other time in U.S. history when the savings rate has been this low for such a sustained period of time was during the Great Depression.
Seely says his interest in the savings rate helped shape ShareBuilder's corporate vision: to increase the savings rate of Americans, and was the inspiration for launching the investing service back in 1999. The company's mission is built on the premise of eliminating the barriers to investing by providing people with affordable, easy-to-use, and reliable financial services.
"Our goal is simple: make it easier for people to automatically save and invest money," Seely said. "When putting away money every month is easy and automatic, ShareBuilder customers become better savers and investors without even thinking about it. "
ShareBuilder customers have opened approximately 2 million investing accounts since 1999. With no dollar minimums required to open an account, no investment minimums, and no inactivity fees, ShareBuilder's core service appeals to Americans seeking an easy way to get started investing today. Over 50 percent of ShareBuilder's customers say that this is their first brokerage account.
