However, empirical research has found that saving has declined across most age groups.

Eventually the population's total savings will have remained the same or even declined because of lower incomes and a weaker economy.

In October 1929 the stock market crashed and Carmichael's hard-earned savings declined substantially.

Personal savings declined in December, to 5.6 percent of disposable income, from 6.2 percent in November.

For example, net national saving in Japan, as a percentage of net national product, declined by 7.9 percent from 1976 to 1987.

But these were recessionary years, when savings usually decline.

If they smoked a pack a day, their savings would decline by $82.

The savings to taxpayers, and they are substantial, come later as caseloads decline.

Since the 1970s, combined saving by households and business has declined.

Since the early 1990s, however, personal saving has steadily declined to -0.1 percent of GDP in 2000-the lowest point in over 65 years.