WERE YOU TAUGHT THAT A COLLEGE DEGREE AND A WELL PAYING JOB WOULD PROVIDE YOU WITH FINANCIAL SECURITY?
- 500,000 jobs are eliminated annually by technology alone.
More than 3 million jobs have been eliminated each year since 1989, for a
loss of 43 million jobs since 1979. - Misha, et, al, p. 82
"In every business there is room for only one dream... the owner's"
- Randy Gage
Does the cost of college payoff?
Invest $50,000+ in a college education to secure your place in the job market
- 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 lifetimes, few college grads will ever see a return on their investment of $50,000+ for four or more years of college.
WERE YOU TOLD THAT INVESTING IN RENTAL PROPERTY WAS YOUR SURE WAY TO EXTRA CASH FLOW?
The National Association of Realtors (NAR) recently released the results of a study, finding that of all homes sold in 2004, some 23% were bought as investments. That can be fine -- building wealth via real estate is something that can be and has been accomplished by many. But it's easier said than done. If you're planning to buy, fix up, and then sell in short order, lots of things can go wrong:
- Fixing up can take much longer and cost much more than you expected. Good contractors are not always easy to find and they tend to have a lot on their plates at all times.
- Things change, even in the short term. Interest rates might surge, making people less interested in buying the property you're selling. Home prices might plunge, especially if they'd been rising rapidly recently. Neighborhoods change, too. If a liquor store opens across the street from your property, your number of potential buyers has just shrunk.
ARE YOU ANTICIPATING THOSE GOLDEN YEARS?
Hope for that pension plan or social security to take over
Anticipating those golden years...
- 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
- - 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'd need $240,000 saved up to be on a fixed income of only $12,000 a year! Not enough for vacations and golf courses. Will your current plan give you more than that?
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