Is this the American Dream?
The Average Family's Net Worth
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35 - 45 year olds
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$700
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45 - 55 year olds
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$2800
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55 - 65 year olds
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$6300
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Source: USA Today
Work for someone else?
(Try to find a secure job – then trade your time for
money)
The workplace today...
- More
than 1.4 million workers were laid-off in 2001 in the United States. It’s the
workers, not the “high level” executives, that suffer from the weak economy.
Source - AFLCIO
- In
2002 the average American worker produced 12% more than in 1989. But after
adjusting for inflation, the average worker's wages have only increased by
1.9%. Source – Economic Policy Inst.
- In 2002 middle class
families earned only $285 more per year than in 1989 – despite working more
hours. Source – Federal Reserve Board Data
Become a
professional?
(Invest $50,000+ in a college education to secure your place in the job market)
Does the cost of college payoff?
A 1998 report by USA Today indicates:
- 51% of executives fear
losing their jobs because of downsizing.
- 24% of executives fear
career burnout.
- 10% of executives fear being
fired.
- Economic experts state that
we will have seven different careers in our lifetime’s, few college grads will
ever see a return on their investment of $50,000+ for four or more years of
college.
- 500,000 jobs are eliminated
annually by technology alone. This includes highly educated professionals.
Job security today...
- In 2002, thousands of Enron
employees not only lost their jobs – but their pensions as well!
- Every month, unexpected
layoffs push thousands of families to the brink of financial disaster.
- Large corporate layoffs
topped 400,000 in 1995 alone including:
IBM: 122,000 workers
AT&T: 83,000 workers
GM: 74,000 workers
Hang on till
retirement?
(Hope for that pension plan or social security to take over)
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According to the Bureau of Labor Statistics out of 100 people that start working
at age 25, by age 65...
- 1% are wealthy
- 4% have enough money to
retire
- 3% are still working (can't
afford to quit)
- 63% depend on Social
Security, friends or charity for food and shelter.
- 29% are dead
- 95% of all Americans retire
in poverty after working for 45 years!
If you retire at age 65 and live to be 85, you'll need
$240,000 saved up just to live on a fixed income of only $12,000 a year!
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