Adam Smith wrote that "A landlord, a farmer, a master manufacturer, a merchant, though they did not employ a single workman, could generally live a year or two upon the stocks which they have already acquired. Many workmen could not subsist a week, few could subsist a month, and scarce any a year without employment." How much do you think is enough savings so that you don't have to worry about money? $12,000 like the median for the middle 20% of all American households. $24,000 like the median for the middle 20% of American households with any savings. $69,000 like the mean for the middle 20% of all American households. $88,000 like the mean for the middle 20% of American households with any savings

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The quote from Adam Smith emphasizes the importance of savings for different groups of people Saving... View the full answer