A nation living precariously close to the financial edge.
The fuel that drives our economy is spending. There are few nations that rival our ability to spend. We spend with the gusto of a shop-a-holic. The assumption is that we simply have the money lying around to spend at this level. That is simply not the case since most Americans are flat broke by most standard definitions. For example, I was reading through the recent Money magazine and found that 55 percent of households making $100,000 a year or less are living paycheck to paycheck. This is the bulk of our entire nation. The median household income in the US is $50,000. This was from the most recent survey conducted this month! The economic recovery is now going into its fifth year yet Americans are no closer to planning for a stable retirement. Most Americans are not adequately planning and preparing for retirement. In fact, a retirement train wreck is barreling down on us. If 55 percent of households are living paycheck to paycheck, then stashing money away for the far away future is probably not on their immediate radar. We have become a nation that is precariously living on the financial edge.
The paycheck that is losing ground
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