The American Dream.

The American Dream?

Work until you are old enough to retire, then retire happy and with plenty of money to more than sustain yourself in retirement. Not any more. Check this out:

According to USA Today, the average family’s net worth is:

35 – 45 year old $700

45 – 55 year old $2,800

55 – 65 year old $6,300

For the first time in history, the current generation is averaging a lower standard of living than their parents. Taxes have become an increasing burden, and a significantly smaller percentage of Americans under 45 now own their own homes. - (New York Times)

The bankruptcy filing rate this year will be eight times higher than during the Great Depression -- with one household in every 100 going the bankruptcy route.- (USA Today)

So what can one do? Three possibilities:

1. You can work for someone else? Trade your hours you work for dollars. Average wages have stagnated since 1973, something they have not done since the Civil War. - (New York Times)Average family incomes are substantially lower today than they were back in 1989. In the entire post-World War 11 period, American families have never before gone seven years with no increase in average incomes. – (Foresight).

More than a million households will file for bankruptcy this year. - (USA Today) Is there job security today? Not according to these figures!

500,000 jobs are eliminated annually by technology alone.

Large corporations laid off more than 400,000 workers in 1995 alone including:

IBM: 122,000 workers

AT&T: 83,000 workers

GM: 74,000 workers

More than 3 million jobs have been eliminated each year since 1989, for a loss of 43 million jobs since 1979.

"In every business there is room for only one dream... the owner's" - (Randy Gage)

2. You can become a professional – pay $50,000 for an education to ensure you a place in the work force. Does the cost of college payoff?

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.
Nine out of ten college graduates don't work in the field they majored in.
500,000 jobs are eliminated annually by technology alone. This includes highly educated professionals.

"Is the money you make worth the price that you pay?" - (Graham Nash)

3. Hang on ‘till retirement and hope that social security or the retirement fund will be around then.

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? You need to escape the time-for-money trap with these two prosperity principles

You must be your own boss. Average annual income of an employee in the USA is $26,000. - (Entrepreneur Magazine)

Average annual income of a successful home-based business in the USA is $50,250. - (Entrepreneur Magazine)

20% of home entrepreneurs reported that their businesses grossed between $100,000 and $500,000 last year

Every 10 seconds in the USA someone starts a home business - that's 8,493 new home businesses a day! - (Home Incorporated)

"You must be in business for yourself; you'll never get rich working for someone else." - (J. Paul Getty) You must employ the concept of leverage and residual income.

*Tap into huge, expanding global markets.*Timing - position yourself in front of large, fast moving market trends.*Develop residual income - income that keeps coming in long after your effort is done.

*Utilize today's advanced technology and information systems to get more done, automated and less attended.

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