Wake Up Call

This just in from the Employee Benefit Research Institute, an organization tracking average retirement savings trends of adult workers at various life stages. Their most recent findings provide an eye opening financial snapshot of millions of Americans.

Workers under age 35 have $6,000 or less in personal savings. Workers between the ages of 35 and 44 under $25,000 in savings. Workers ages 45-54 with $44,000 in savings. Baby boomers aged 55-64 with 65,000 in savings, and those 65 and older a meager $56,000 in savings. These numbers though alarming, provide added  incentive to save more for future financial security.

 

                                                              Roger L Caron

                                        Wealth Creation

The trick to saving is to spend less than you earn. There is no mystery to it. Spend less than you earn and you will have money left over to invest so it can grow over time. This is the fundamental truth to a more prosperous future. You have to be willing to live beneath your means, rather than within your means, a distinction many fail to discern.

 

The road to wealth is paved with systematic saving combined with prudent investment over decades. Wealth is rarely acquired overnight, and more often than not quick to be squandered.

                                                                                                  

                                           Roger L. Caron

Wealth & Poverty

 

 

According to recent Federal Deposit Insurance Corporation data, eight percent of US households have neither checking nor savings accounts. Even more troubling, among minority households, the figure climbs to more than 20 percent. Raising the question ... how does this occur in the richest nation on earth?

 

 While it is no doubt true some folks distrust banking institutions. The more credible explanation ... greater numbers of Americans are living a hand to mouth existence. Raising from poverty is never an easy task, yet remains attainable given sufficient perserverence and a willingness to live beneath one's means, regardless of means. 

                                                                                 Roger L. Caron

Economic Precipice

Upwards of fifty percent of American households don't have enough savings to cover three months of living expenses. Another way of looking at this ...  nearly half of our  population is now just 90 days away from bankruptcy. Given the average length of unemployment now stands at 10 months, the tenuous financial situation of many consumers and continued weak national economy are indeed worrisome.

                                                                                                      Roger L. Caron

Responsibility

A large salary isn't required to become finnacially secure. Regardless of income levels, people who live beneath their means, save and invest prudently over time inevitably prosper. Here are five thrifty habits associated with financial success: 1. Drive a modest automobile 2. Buy and live in a modest house relative to your means 3. Don't carry more cash than necessary 4. Negotiate, to the best of your ability, the price paid on all purchases 5. Take full  responsibility for the circumstances of your life, be they positive or negative.  For success in money matters, as with most things in life,  is about the efficacy of our day to day choices and individual responsibility.

                                                                            Roger L. Caron

A Personal Invitation

 

Thank you for your interest in Save and Grow Rich “How to Turn Small change into Large Fortune”... To learn more about this exciting and unique new approach to personal financial management, simple click on the book photo shown above .

                                                                                          Roger L. Caron