Is America Still The Land Of Opportunity?
recent Survey of Consumer Finances conducted by
the Federal Reserve Board revealed these statistics
about the state of Americas finances.
Do any of these
facts hit home with you?
- The typical American family
earns about $45,000 per year. From 2001 to
2004, family debt increased 33% (adjusted
for inflation). Surprisingly little of this
debt stems from unnecessary spending. Instead,
credit is being used to pay for necessities
like housing, household expenses and health
care, particularly in low- and middle-income
- Average net worth, which
grew rapidly during the boom of the 1990s,
rose only 1.5% between 2001 and 2004 for the
average American family. In other words, for
most of us, the worth of our investments is
not keeping up with the inflation rate.
- The middle class is being
squeezed more tightly than ever. Among the
wealthiest 10% of Americans, net worth
rose to $831,600, or a 6.5% increase from
2001. Meanwhile, the net worth of those
in the bottom 25% fell 1.5% to $13,300.
- More than a third -- 36%
-- of those who owe more than $10,000 on their
cards have household incomes under $50,000.
13% who owe that much have household incomes
under $30,000. The percentage of disposable
income used to pay debts is near record highs.
The report doesnt
point out these more unsettling statistics:
- In February, 2007, the
US Commerce Department reported that the personal
savings rate for 2006 was a negative 1%. The
rate for 2004 was a negative .4%. For comparison,
in the midst of the Depression in 1933, the
PSR was -1.5%. If 2007 figures show a decrease
similar to those of 2006, well have
a worse record than during the Depression.
(Source: Associated Press)
- The US is becoming
less of a meritocracy, where skill and intelligence
determine success, and becoming more of a
class-bound society, where economic background,
including the better education money can provide,
matters more. There are still many rags-to-riches
stories. But there's stagnation in the underclass.
(Source: Christian Science Monitor)
- According to a new Federal
Reserve data-based economic analysis commissioned
by the Consumer Federation of America, ...more
than half of American households (56 percent)
are behind where they should be in saving
for a comfortable retirement. A related
CFA public opinion survey found that 59% of
Americans do not expect to maintain their
current standard of living in retirement.
Does this sound
like a nation of people who believe in and are
profiting from the American Dreamor simply
a nation of people who want to live the Dream
lifestyle without really being able to find a
way to finance it? In fact, we have to ask...
Is the American Dream
still alive and achievable?
The immensely popular
19th-century author Horatio Alger is largely credited
with defining the American Dream as well as the
means to achieve it. His books told the rags-to-riches
stories of people who succeeded because of the
opportunities they had in the Greatest Nation
on earth. It didnt matter who they were.
No matter how hopeless their situations seemed,
his characters found wealth and success through
determination and hard workand of course,
because they believed in the American Dream.
The Dream Today
We believe the
American Dream is alive and well. The 21st century
continues to offer incredible opportunities. Escalating
wealth is mostly a matter of finding the right
opportunities and having the determination and
guts to follow them through.
The materials and methods for accumulation
of wealth have changed, but the opportunities
are greater today than at any other time.
One simply needs to learn about the new materials
Many Things Have Changed:
Dealing With Fear and Uncertainty
events of September 11, 2001, permanently changed
our country and its citizens. Our assumptions
that we are safe in our own land faded to fear
and uneasiness. Maybe you used to enjoy travel,
but now airports make you nervous. Perhaps you
dwell on the possibilities of another terrorist
attack. Were all dogged by an unstable job
market where mass layoffs and outsourcing threaten
our livelihoods. The future is fraught with uncertainty
about whether were making wise investments,
whether the CEO will abscond with the pension
funds, and whether Social Security will be there
Even weather patterns are unstable, taking lives
with devastating hurricanes, tornadoes, tsunamis,
heat waves, and blizzards. Fear can make you want
to simply maintain the status quo and not take
any chancesyet that is exactly what you
must do to avoid becoming a victim of fear, because
fear is the only thing that can prevent you from
taking advantage of all the possibilities that
are open to you. FDRs famous statement still
applies: The only thing we have to fear
is fear itself.
But think about this: All kinds of fears have
always held people back from trying to improve
their lives. Weve used fear as a convenient
excuse not to get on with the lives wed
like to live. Its so much easier to stay
where we are, complaining that well never
The opportunity is there for the taking, but you
must be prepared to leave your comfort zone, summon
up your strength and determination, and set a
course towards wealth accumulation. While money
isnt everything, it can certainly do a lot
to alleviate uncertainty and to enrich your life
and the lives of those you care most about.
Worrying about the future doesnt change
it. No one has ever been able to predict what
will happen, or when, or why. You only have
today and the lessons you have learned from your
past. You can take charge of todays reality
and make it sing with tomorrows dreams.
The Opportunity Has Never Been Better
Horatio Alger may
have been right in the 1800s when he claimed that
anyone willing to work hard could succeed. Today,
the picture is different. It is painfully possible
to work very, very hard and not get ahead.
If you live from paycheck to paycheck and worry
constantly about how you will meet your financial
obligations, youre living in a world of
stress. You dont even have the luxury of
worrying about the stock market, because youve
got nothing to invest.
Yet more people are amassing wealth today than
at any other time.
True, the financial
picture for many of us doesnt measure up
to the rosy pictures we hear of a growing economy.
We worry about the war on terror, how well
afford gas to get to work, and whether our jobs
will still be there for us tomorrow.
Yet you can begin your journey to financial
of the dubious prospect of accumulating wealth
working for someone else, you can take control
of your finances by owning your own business.
It is much, much easier than you can imagine because
you can do it with your own home-based business.
Did you know that two thirds of all American
millionaires are self-employed?
Think about it. Who makes the most money? The
restaurant manager or the restaurant owner? The
car salesman or the dealership owner? Owners are
self-employed, and they are much more likely to
be wealthy than the people who work for them.
Were not suggesting that you buy a restaurant
or an automobile dealership. It isnt necessary
to take that kind of risk or put in that kind
of work. You own home-based business can be every
bit as lucrative and much less stressful than
a bricks-and-mortar business.
You probably already have the only equipment youll
needa computer and a telephone. Thats
all! Now all you need is the information that
has transformed so many peoples lives.
Don't let someone
else decide your future for you. Take the first
step today toward assuring a secure financial
future for you and your family. And dont
wait until its too late. Today is the
time to get started in an extraordinary business
that has already changed the lives of so many,
freeing them of fear and worry and showing
them that they can live lifestyles they thought
were meant only for others.
When you accumulate wealth, you generate a
steady residual income that pays you every day.
Are you ready to discover how you can begin to
build that kind of income-producing resource?
Then youve come to the right place.
Simply fill out the form below, and I will get
back to you with additional information.