The Average American's Financial Condition

[boedicca]

No savings, no retirement account, no this, no that..

Yet, the average American family seems to have 2-3 mortgages on ther house, has an ATV, big screen TVs, takes vacations every 6 months, throws parties, and has not a care in the world.

Coincidence?

And here I was thinking I was the wife/mom of your average American family. Boy was I mistaken!

Me too. The only thing for which I qualify on the list is throwing parties, but these are generally family potluck get togethers.

 

[Mr Natural]

I'm not one to give advice nor do I even like people who give unsolicted advice but when it comes to personal finance matters, I feel I need to pass this along:

A lesser house in a better neighborhood is better than a greater house in a lesser neighborhood.

It seems these days, the major selling point of a house is square footage. It doesn't matter where it is as long as it's big. And that's just plain wrong.

 

[masquerade]

No savings, no retirement account, no this, no that..

Yet, the average American family seems to have 2-3 mortgages on ther house, has an ATV, big screen TVs, takes vacations every 6 months, throws parties, and has not a care in the world.

Coincidence?

And here I was thinking I was the wife/mom of your average American family. Boy was I mistaken!

Me too. The only thing for which I qualify on the list is throwing parties, but these are generally family potluck get togethers.

Ha! Me too! ( but we do have a big screen TV my parents sold us for dirt cheap so they could buy a new one ) As far as our parties go ... my guests bring their own alcoholic beverages if they're going to be drinking and a few of my girlfriends never arrive at my house empty handed as far as food goes.

Have you or any members of your family heard of the game LCR?

[ame=http://www.amazon.com/LCR-Family-Game-colors-vary/dp/B000YMXAAQ/ref=pd_sim_t_3]Amazon.com: LCR Family Game (colors may vary): Toys & Games[/ame]

We substitute the three chips with three $1.00 bills. Less than $20.00 gets you several rounds of play.

 

[code1211]

How do you save for retirement on 43,000 a year?

Save something. Anything. It doesn't matter how little it is. Just do it.

When asked what mathematical discovery was his greatest, Einstein cited compound interest.

 

[KissMy]

 

[Douger]

I think managing money is easy but investing is hard. If it were simply a matter of saving your money and earning decent interest, it wouldn't be so bad but you have to learn so much about what, where, when, why to invest and earn well from it.

I have savings and a 401k that I keep up with and always wanted to learn to better invest but never enough time.

Maybe that's an American problem, I don't know...

The time you spent making nearly 4800 posts here would have been enough to make you an expert in investing.

 

[editec]

As long as one spends more than one makes, one will every be a slave.

Now if you're like most people, that is to say you started out a slave, then the trick is to make more than you're probably worth.

The surest path to an affluent life is to start out affluent and get other people to make you richer.

 

[Skull Pilot]

As long as one spends more than one makes, one will every be a slave.

Now if you're like most people, that is to say you started out a slave, then the trick is to make more than you're probably worth.

The surest path to an affluent life is to start out affluent and get other people to make you richer.

read this

people of modest means can become financially secure if they so choose.

 

[boedicca]

As long as one spends more than one makes, one will every be a slave.

So what does it make us when the Government spends far more than it receives in taxes?