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A phenomenological study of 27 participants, divided into three sub-categories of age, income and savings rate, explores the essence of individual savings rates and life satisfaction. This exploratory study reveals insight into the essence of savings behaviors, savings motivations, and savings outcomes or results. This examination explores the relationship between an individual expectation for lifestyle and the laying in store against it with savings. The outcomes of this behavior tie directly into life satisfaction. Outcomes like stability, comfort, peace of mind, emergency reserves, and the ability to help others, family and friends are just some of the aspects of life satisfaction that result from savings. Participants from this study have offered some detailed insight into savings motivation, savings education, savings instruments, and the outcomes of saving. Age and income do influence savings rates, but not as much as other internal and external factors, such as budgeting, job security, emergency expenses, and debt load. The ending outcomes of savings are different for each individual. Enough of these outcomes are sufficiently consistent as to draw some powerful conclusions.

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Dr. Sterling C. Jack is an Investment Advisor based out of South Jordan, Utah. He was born and raised in Utah, and has lived there most of his life, although he has traveled extensively throughout the world, particularly England and Israel. He is the second youngest of eight children with five sisters. Sterling and his wife Erin have six children.

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