![]() ![]() ![]() The average American family has $3,800 in the bank.The rest of the infographic describes our “finances in shambles” (these figures are unconfirmed beyond what is shown in this image): In general, America’s financial situation does not look good at all, if you’re going to take some of the facts you’ll see from. Or maybe I’ll just use public transportation.” Average American Family’s Finances: In Shambles? (Infographic) I’ll be using a Toyota Corolla or a Honda Civic until the day I die. I never want to own a Porsche or a Mercedes. I’d rather save my money to give my kids a good quality education. But I am resigned to living the rest of my life in a simple house and not traveling around the world. ![]() For instance, here’s something I received in the mail the other day, from someone who continues to feel the pinch: Despite improvements in the job market and with national unemployment statistics, I can still sense growing financial pressures in the lives of many families I know. So how is middle America doing? How are we stacking up compared to the average American family? Are we average? In my case, from talking with my own circle of friends and family, the picture has not been so bright, sad to say. Unfortunately, being your own boss has its risks, but by trying it out, we are gaining experience and learning how to think like entrepreneurs. Our new approach is to see if we can focus on business - business as a way to invest in the future, rather than rely entirely on our savings and investment portfolio. We’re just not comfortable counting on the government for these things.) (While we are supposed to be entitled to social security income in the future, it’s something we discount altogether when we plan for our retirement. We are no longer relying exclusively on our investments as the only way to help us retire in the future. Like many people, we were slammed by the stock market roller coaster, the layoffs, the financial crisis. Well I’ve been reflecting on the 00’s decade and it’s been a lot more erratic for us. How Are Your Finances Doing? Past and Present And it was a pretty good one for a while. That was the strategy taken by a lot of folks before Y2K hit. My spouse and I were long term corporate hounds and it served us well to try to climb the career ladder while investing our savings in the stock market and even in real estate for a while. Our financial strategy has always been to try to adjust to the current environment whenever possible. How do you feel about your personal financial situation? In our case, we are going with the flow. ![]()
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