Wealth & Water

 

 

A reservoir will only fill when there is more water flowing in than flowing out ... Well what on earth does this have to do with money management, and the answer is everything. In like manner when payday rolls around, dollars flow in and dollars flow out. It's the same principle in a different suit of clothes.

The analogy begs an important question ... Where are  you  in regards to managing your financial reservoir? Many believe that if they just had more income their money woes would end. When in truth people go bust everyday at income levels both high and low.

                                                                                          Roger L. Caron

Golden Years … Maybe Not

The average senior citizen has a very small retirement income. In fact the median income for those age 65 and up is only $2000 a month, according to the Social Security Administration, with the most common retirement income level being between $15,000 and $20,000 annually. While Social Security is an important retirement benefit, with upwards of 90 percent of folks age 65 and older drawing benefits. However the amounts received are at best minimal when one considers today's ever escalating cost of living.

                                                                                             Roger L. Caron

Alarming Numbers

This just in from the Consumer Federation ... two in five American households have no savings, emergency fund or retirement account. Additional data compiled by the banking industry indicates one half of U.S. households have insufficient funds to cover three months of living expenses. With only a third of households saying they feel comfortable about their current financial situation.

                                                                                    Roger L. Caron