Monday, June 29, 2009

American's Lack Confidence When It Comes To Retirement Planning by Pat Melfi

$aving ¢enterImage by M.V. Jantzen via Flickr

EBRI's in 1997 Retirement Confidence Survey found that 51 percent of current workers anticipated that personal savings would serve as their "most important" source of income in retirement. But, in 1998, that statistic dropped sharply to only 39 percent. Attempting to explain what may have changed, the authors of EBRI's 1998 Retirement Confidence Survey suggested: "One possibility is that, as more people focus on retirement, determine what they will need, and consider what they have already put aside, their confidence in their ability to save enough for retirement decreases." Consistent with this theory, the 1998 Retirement Confidence Survey found that "only 25 percent of workers are very confident that they are doing a good job of preparing financilally for retirement, compared with 32 percent in 1997."

Despite waning confidence, Americans today are more focused than ever before on retirement planning. Nearly half of all working Americans--45 percent--have attempted to calculate how much they'll need to save for retirement. In 1997, only 36 percent had tried to do that calculation. In 1996, only 32 percent made the attempt. Nevertheless, almost 60 percent of women and 51 percent of men have not yet tried to figure out how much they need to save for retirement.



According to EBRI's 1998 Retirement Confidence Survey, members of "Generation X"--generally those born from 1964 to 1980--are more confident that the members of any other generation about their retirement prospects. One in three is "very confident" they'll have enough money for a comfortable retirement, compared with 18 percent of older Baby Boomers and 22 percent of younger Baby Boomers. Experts estimate that 55 tp 64 percent of Generation X have already begun to save for retirement, primarily because of "the prevalence of 401 (k)s in the workplace today, which makes it easier for young people to start saving for retirement, and concerns about the future of Social Security as a source of retirement income.





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Friday, June 26, 2009

Pension Plans Have Changed by Pat Melfi

National Grid UK Pension Scheme invests in sho...Image via Wikipedia

In almost every sector, job benefits have declined, and workers have increasingly come to realize that they will need to save for themselves to have economic security. The "security blanket" of a life4time job was never available for most, but many Americans have acted as if it were. According to 2006 study by EBRI, in 2004, only 28 percent of workers ages 55 and older had been on their job 20 years or more.

In the past, only about one-quarter of workers participated in "defined benefit" plans, such as pension plans that provided annuities at retirement, but many Americans acted as if it all had this benefit. Today, employers increasingly offer "declined contribution" plans, such as 401(k) plans, rather than defined benefit plans. With defined benefit contribution plans, the ofrten decide among different investments and bear the entire risk and reward of their investment decisions. The continuing growth of of such plans requires that American workers learn the basics of investing and become disciplined about making contributions to their plan.

Despite the recent rise of defined contirbution plans, not every worker in America enjoys the benefit of an employer-sponsored retirement plan. According to officials with the Department of Labor, slightly less than half of America's wage-earning and salaried workers are covered by some type of pension plans. Of the approximately 120.4 million American workers, about 60 million public and private sector workers have no pension plans.

According to a 2007 study by Public Agenda, more Americans are working for smaller companies--companies less likely to have pension plans, or even volunatry retirement plans. For example, EBRI found that in 1993 only half of all workers in businesses with 25-99 workers had the option of an employer-sponsored retirement plan. And for businesses with fewer than 25 employees, only one-fifth had access to such plans. By contrast, at businesses with 100 or more employees, 85 percent of workers could take advantage of an employer-sponsored retirement plan.

Thus we have the need, evfen moreso now than ever before to sit down, get a plan together of what our lifestyle wants to be at retirement and implement such a plan. EDUCASTION IS THE ANSWER, WHAT'S THE QUESTION? Are you with me on this? This is one of the most significant issues in the life of every human being, not only, just Americans. Anybody else here remember learbning about this is elementary school, high school or even college? Not me! I am an Ivy League graduate and and never in the 5 years I attended college, do I recall hearing this topic...of course my major was marketing, so maybe it's not that important to a marketing executive. Hmmmm, don't think so...it's time for educators to start providing EDUCATION THAT MATTERS.

For further information of a university in America that does in fact teach this type of powerful infor visit http://www.straightline2money.com



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Tuesday, June 23, 2009

We The People Stimulus Package by Pat Melfi

JodieImage by (be·holder) via Flickr


SAVE OUR CHILDREN..TAKE CONTROL OF AMERICA!
Surprise, Surprise! After telling everyone they'd wait until after the 4th of July to vote on a so-called "cap and trade" energy tax, leaders in Congress took action in the dark of night Monday to bring it up for a vote this week! Liberals in the House of Reprersentatives are trying to sneak through with little debate the largest tax hike in the history of the world: over $2 trillion.



Bob Basso author of "Common Sense" plays the role of Thomas Paine to ignite the fire of change in America. Patriotism and Pride for America lead Thomas Paine to help take back America!

By effectively placing a tax on carbon monoxide, this bill would raise costs on anyone and anything that uses energy. This climate tax is
not the way to help us turn the corner on today's difficult economy, and pushing through a 1,200 page bill that nobodyhas read and is not the transparency and honesty we were promised!

Can you family afford another $4,600 in energy costs? If not, there's only one way that we can stop this disaster from becoming law: burning up phone lines and stuffing email boxes in Congress with messages of opposiotion!



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Monday, June 22, 2009

America's Youth Now Spends More and Has More Debt than Ever Before by Pat Melfi

An example of street markets accepting credit ...Image via Wikipedia

Teenagers in the United States have become a formidable economic force. In December 1998, Teenage Research Unlimited projected that teens ages 12-19 spent $94 billion of their own money--including money earned or received from allowances, gifts, or employment--in 1998, compared with $84 billion in 1997. Teens also influenced the spending of an additional $47 billion in family money. That's a total of $141 billion.

Yet few have the skills to manage their money wisely. A 1998 poll of 14 to 16 year-old revealed that "fifty-three percent received little to no financial advice from their parents." And according to a 1998 survey of 13 to 21 year-olds, only 26 percent reported that their parents actively taught them how to manage their money.

A 1999 poll of young people ages 9 to 17 found that fifty-nine percent worry about not having enough money, compared to sixty-five percent who worry about not doing well in school and fifty-two percent who worry about getting cancer. This comes at a time when college students must shoulder more debt than ever before. The average college student who takes out student loans graduates with a debt burden of at least $30,000.

According to a survey by Consumer Report, "sixty-four percent of college students have a credit card in their name and twenty percent have four or more cards. In its 1999 Youth & Money Survey of students ages 16 to 22, the American Savings Education Council (ASEC) found that 28 percent of students with a credit card roll over debt each month. A 1998 poll by the U.S. Public Interest Research Group found that the average college student with a credit card who is responsible for paying his or her charges has an unpaid balance of nearly $2,000.00.

Perhaps most disturbingly, a 1997 survey of individuals who filed for personal bankruptcy protection revealed that 8.7 percent of all bankruptcy filings were among young adults ages 18 to 25 years old.








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THINK ABOUT IT...by Pat Melfi

The Smartest Guys in the RoomImage by elycefeliz via Flickr

"Will the next round of LAY-OFFS INCLUDE ME? Will my position be eliminated after the merger? Can I expect A RAISE OR BONUS in this economy? Is my current business RECESSION PROOF?

Turnkey Business * Residual Income * Unsaturated Market * Low Overhead Work From Home * No Employees...Have ya' heard all this before?

It's no surprise that most CFO's and Owners of companies in North America are laying off at key levels...and YOU could be next. Now is the time for people to take control of their financial destiny. My job here is to examine all kinds of so-called money-making opportunities. Most turn out to gimmicks. Some require lots of hard work and long hours. Others are complicated to understand or take way too long to produce an income.

Then, out of the blue - a shocking discovery! Something unlike anything I've ever seen before. The more I dug into it, the more excited I became. What's so bizarre is, it is extremely easy to apply, yet so powerful. I still can hardly believe it's true! I know of no other opportunity that can return so much profit, so quickly, for such a small investment of time...and I have seen them all.

The Keys To Success:

1. You must want a change and be willing to take risk.
2. You must take a personal ownership of your business.
3. Get to know people by asking questions and listening for opening doors.
4. Don't believe anything different than 9 of 10 people will NOT do what they dream about. Keep looking for that "one" that will.
5. MOTIVATE your team, ALWAYS!!!

I have discovered individuals that had perseverance, were teachable, never stopped growing, pushed their limits and stepped out of their comfort zones. If you are looking to build a business you can own and run without a lot of trouble...let me know when you find it. Most opportunities require hard work and knowledge. Have you heard the term that "knowledge is power?" WOW!!! Is that most deceptive statement you have ever heard or what? The correct statement is "APLLIED knowledge is power." There are many knowledgable people who are still failing in life. There is absolutely no point in gaining knowledge if you are not willing to share it.

I have found my peace of mind, finally at http://reinvestorsolutions.com/composer
It affords me an opportunity to present information...real information to those looking for a real change. It satisfies my continued desire to present Education That Matters!!! As most of you know, I am going into my 30th year of life as a servant to educational opportunities. During a lifetime career in the entertainment industry and the real estate industry, I have dedicated a healthy portion of my charitable efforts on education. Education That Matterss! Education people can actually apply in real life. It's an honor to have so many intersted people.

If change is what you are looking for this might be a good place to start...it's NOT for everyone. "If you want to have a great life, every day you need to learn and teach one thing." I believe the education and training I have received has made me a stronger, more confident person, and a better father and husband. Absolutely NOTHING is more important to me than helping others.

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Saturday, June 20, 2009

Between The Lines by Pat Melfi

A class size experiment in the United States f...Image via Wikipedia

What To Know When Choosing A Mentor, Advisor or University

Investing can be a tricky process, which is why many turn to professional advisors for help before venturing into the investment world. Often these are people that have been well educated in theory and not necessarily practitioners. Our children should always have the opportunity to choose when it comes to a mentor, advisor or a university. Following a mentor, advisor or educator that actually successfully practices in real life what they teach is always the best path for any of us.

In yesterday's article we discussed the arrival to a place known as "entitlement" here in America using my buddy Bill Zucker's TARP video and song. When we listen to the song we hear the underlynig message that somehow we are all now "entitled" to something for free. Nothing is free in life, especially when it comes to education.
The most lucrative road to wealth building has always, is now and will be in the future, real estate investing. Real estate is a business. One can multiply wealth tremendously or even go bankrupt investing in the wrong way.

Education Is The Answer, What's The Question? A phrase coined by the author and used in many public article poses an intersting thought. Think about it for a minute. If we were to educate ourselves and our children, what question would there be? Would we not accomplish what we need to accomplish? Well maybe, but then there is that "praticing educator" thing we spoke about earlier. Check out this video and see the testimonials of children following a practicing educator, menator or advisor.



As mkost of you know by now, I am dedicated to the development of our youth through education...however, Education That Matters...Education our children will actually use in their daily routines. I was fortunate enough to meet Jim Piccolo, founding member of Nouveau Riche at Celebrity Fight Night in Phoenix a few years ago. A dear friend of mine David Foster produces the entertainment for that event every year. I was intrigued by Jim's desire to assist our children with financial literacy issues. I knew that I would be retiring soon from a 30 year career in the music industry.

It was that night that I chose my new mentor for what I would commit to do for the rest of my life...why, because that old nursery rhyme "Follow The Leader" applies here. This man is truly one of the world's greatest assets, amn of honor, vision and dedication to educating children with Education That Matters. Learn more about this amazing man, the univwersity courses that are offered at the University he founded that has become a leader in reale estate education at http:/reinvestorsolutions.com/composer62 where in every day life, we are dedicated to Education That Matters.











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High Noon On The Internet by Pat Melfi

Google, Inc.Image via Wikipedia

The internet is the Wild West of the legal system. It is a place that was discovered just 30 years ago, which is still being explored and mapped, and for which laws are uncertain, hotly contested or in flux. Today one of the Internet's most controversial issues, keyword advertising, has stirred up businesses throughout the world.

What is Keyword Advertising?

It is the most hotly contested legal issue involving the Internet. Web searchers, such as Google, direct users to various Websites depending on the "keywords" that the users enter. It is a particularly controversial practice for Web searchers to offer companies their competitr's trademarks as tools for directing traffic to their own site. For instance, Google might allow Smith's Food and Drug Stores to use the keyword "Albertsons" to direct more grocery store traffic to Smith's and Google might also charge Smith's for allowing it to use the Albertsons keyword. Courts around the country are split as to whether that use constitutes trademark infringement.

There is a site at http://composer62.freegoogle.hop.clickbank.net that has an incredible guide one can use to learn how to correctly advertise on Google.






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Setting Up Shop by Pat Melfi

Title page to Locke's Some Thoughts Concerning...Image via Wikipedia

Business Systems Offer Low-Risk Business Options

In business, as in life, there are no guarantees. But there are always smart ways to bet. For the victums of the current economic recession, the idea of leaving corporate America behind and finding their own personal piece of the pie has been more enitcing than ever. It means having the opportunity to run a business, be your own boss and control your destiny.

So it comes as no surprise that many people looking to take control of their financial futures are turning to tested and proven business systems...and the timing might just be perfect.

With financial institutions encouraged to use federal economic stimulus money toward making loans of all varieties, the cash necessary to start a business is more readily accesible. You just have to chose one that matches your lifestyle and most importantly, your passion.

Buying into an already established and proven system under the name of that business and operating within the boundaries established by it can be very lucrative.

Nouveau Riche has this sytem, has created more millionaires than any company of it's type and offers product that every millionaire has invested into...real estate. It is important to realize that real estate is a "business". Getting educated and following a multi-millionaire leader is the right path to achieve financial freeom in the quickest way.

Learn more about the education you nedd to become a successful real estate investor at http://reinvestorsolutions.com/composer62
If after you visit the site, you have an interest, leave your information and a certified representative will call you to answer your questions.

Let me point out that Nouveau Riche has generally done the experimenting and made all the mistakes with their concepts and, thus, refined the process for operations before they ever roll out the opportunities to potential business entrprenuers

According to IFA, there are close to 800,000 business establishments in the country that are part of a business sytem referred to as a franchise. Those business employ 10 million people and have a payroll exceeding $300 billion.

Training and support, including regimented business operation procedures and tips on the management of the new business are all a part on the Nouveau Riche system.

The reality is that a well-established, successfully run business is more recession-proof than any untested, untried idea. If you just follow the guidelines and the system, it's easy to manage a profitable real estate investment business with the help that Nouveau Riche gives you.

Meetings That Mean Business

With today's economy, getting down to business is more important than ever. Don't underestimate the value of a "motivational setting." Get with the author and learn when you can take a look at this well tested, well oiled machine that has created more millionaires than any system of it's kind. http://reinvestorsolutions.com/composer62










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TARP (Troubled Asset Relief Program) or FREE RIDE as I call it...Pat Melfi




What amazes me the most is the level of entitlement Americans believe they are entitled to.

One of my friends, a musician named Bill Zucker wrote this song. It puts a spin on the problem in American government. Just a few months ago Americans were insured that funds from this program would save GM and Chysler among others and prevent them from going bankrupt. Did I miss something here or what? I did graduate from Berkeley in the 70's don't remember what I studied there either...maybe those brain dead cells just helped me imagine what I was hearing about this.

America needs to wake up!!!

This is a joke and remaining complacent about this will only allow it to get worse...Anyone else but me notice the current administration is like a runaway train?

Get your share of your own TARP with this funfilled humorous tune from Bill that has been all over the news as well as had 148,000 views on YouTube.

Enjoy the humor.

Choosing Credit Cards by Pat Melfi

A diagram showing the front side of a typical ...Image via Wikipedia

Did you know that credit cards represent a significant amount of our overall debt in America. There is more abuse in this area than any other area...but as we examine who is doing the abusing, we learn some very interesting facts. Although many American's abuse the ability to acquire things on credit, buy now, pay later, instant gratification, little planning or research goes into the terms these credit cards offer. The proper use of credit cards can serve as an advantage when starting a new business.

Today we just want to show some of the options that are available and their relative terms. When you are shopping for a credit card, it’s wise to compare fees, charges, interest rates, and benefits. Some credit cards that look like a great deal at first glance may lose their appeal once you read the terms and conditions of use and calculate how the fees could affect your available credit and your payment.

Credit card issuers generally must disclose the important terms of use regardless of whether they require you to complete an application.

  • Fees. Many credit card issuers charge membership and/or participation fees. Issuers use a variety of names for these fees, including “annual,” “activation,” “acceptance,” “participation” and “monthly maintenance.” These fees may appear monthly, periodically, or as one-time charges: they can range from $6 to $150. What’s important is they can have an immediate effect on the credit that’s available to you. For example, a card with a $250 credit limit and $150 in fees leaves you with $100 in available credit.

  • Transaction Fees and Other Charges. Some issuers charge a fee if you use the card to get a cash advance, make a late payment, or if you go beyond your credit limit.
  • Annual Percentage Rate. The APR is a measure of the cost of credit, expressed as a yearly interest rate. The APR must be disclosed before your account can be activated, and it must appear on your account statements. Your card issuer also must disclose the “periodic rate” – the rate the issuer applies to your outstanding balance to determine the finance charge for each billing period.
  • Grace Period. A grace period lets you avoid finance charges if you pay your balance in full by the date it is due. Knowing whether a card gives you a grace period is important if you plan to pay your account in full each month. Without a grace period, the card issuer may impose a finance charge from the date you use your card or from the date each transaction is posted to your account.
  • Balance Computation Method for the Finance Charge. If you don’t have a grace period – or if you plan to pay for your purchases over time – find out how the issuer calculates your finance charge. Which method is used to compute your balance can make a big difference in how much of a finance charge you’ll pay – even if the APR and your buying patterns stay pretty much the same.
  • Balance Transfer Offers. Many credit card companies offer incentives for transferring your balance – moving your debt from one credit card (Card Issuer A) to another (Card Issuer B). Each offer is different – and the terms can be complicated.

For more information regarding the education needed to gain this type of knowledge in order to prevent yourself from getting into trouble with credit cards, real estate investment strategies that work and other financially related topics please visit http://reinvestorsolutions.com/composer62 and fill out your emauil information so that we get our newsletter of interesting financial topics routinely.

At Nouveau Riche, we are dedicated to education and development of youth, tomorrow's most choice resource....

EDUCATION IS THE ANSWER, WHAT'S THE QUESTION? ®





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Friday, June 19, 2009

The Changing Environment by Pat Melfi

Life Expectancy at birth (years) {{col-begin}}...Image via Wikipedia

Americans Are Living Longer and That Gets Costly

Life expectancy fo Americans is generally on the rise. Many retirees can expect to live twenty years more in retirement, and with the rapid medical and scientific developments we see today, the trend is likely to continue. In 1998, only 40,000 people were 100 yeards old or older. But experts predict that by 2050 nearly one million people will live to be 100.

This is certainly a sign of progress. Yet longer life, with its added years of retirement, requires greater financial assets. Retirement can be a time of deteriorating health. Insurance and other medical safety nets will often cover a portion of these costa. But in many cases, the remainder can only be defrayed by the retiress's personal resources.

According to a 1999 study of saving across generations, nearly half of all Americans in their 50'2 or early 60's---49 percent--believe strongly that they should have begun to save for retirement much earlier than they did. When asked to identify the ideal time to start retirement planning, the "group picked age 22...eight years earlier than they themselves began to plan."

Learn more about retirment planning at http://reinvestorsolutions.com/composer62

Education Is The Answer, What's The Question !!!

Wednesday, June 17, 2009

THE FACTS ON SAVING AND INVESTING by Pat Melfi

United States Department of EducationImage by Financial Aid Podcast via Flickr


In early 1998, government agencies, consumer organizatios and financial industry groups throughout the Western Hemisphere launched the Facts on Saving and Investing Campaign. This ongoing, educational effort aims to motivate individuals to learn how to save and invest wisely.



The camnpaign slogan--Get the facts. It's your money. It's your future--captures why a solid grounding in financial fundamentalsmakes such a tremendous difference in the quality of life for any individual and any nation.



In the United States, numerous studies and surveys show that many Americans--especially young adults--fail to comprehend thje financioal basics. Many do not understand how our securities markets work, how to evaluate the risks and rewards of investment products and how to calculate what they need to save for retirement. Far too many individuals may needlessly struggle in retirement or never attai their other financial goals simply because they were never exposed to the financial facts of life. Some may suffer financial shocks and losses because they do not realize that our financial marklets can go down as well as up as we have seem in the last year.



This report at http://www.ct.gov/DOB/cwp/view.asp?a=2235&q=297958 summarizes some of the essential facts about saving and investing in the Unioted States from polls and studies conducted by the State of Connecticut, Department of Banking. It highlights the reasons why so many have joined forces to undertake this important campaign to improve the financial life of every American. For those who wish to delve more deeply into the subject, this report provides a list of resources for further exploration.



In 2009 we have an increase in the demand for type of education. Nouveau Riche is committed to financial literacy and we are excited to introduce the inaugural session of our Teen Financial Literacy (TFL) class at the July ’09 College! Now is the time to empower our kids—by teaching them the basic skills in the management of personal financial affairs. Take control of your teen’s future and enroll him/her in this essential class!



ABOUT THE CLASS



Teens, ages 14-17, will participate in fun and engaging classes that utilize rich media to educate outside of the norms on topics like:
budgeting
living within your means
checking account management
fiscal responsibility
credit
and much more!


PROGRAM ELIGIBILITY



Nouveau Riche has made this opportunity available for FREE to primary Regents Tuition Students and—for a limited time—Go for the GOLD! promo primary tuition Students. The primary Student must be the parent or legal guardian of the teen enrolled in class. The student’s original birth certificate plus one copy, as well as proof of legal guardianship, if applicable, is required to certify the teen’s eligibility and allow them to attend class. Tuition product purchase terms and conditions apply.



ENROLL IN CLASS



Program-eligible tuition Students will have the ability to schedule their teen for the Teen Financial Literacy class through the Nouveau Riche Business Center/OSCAR™. (Log-in, go to “College” and select “Teen Financial Literacy.”) Eligibility will be confirmed before the student attends the class.The class experience begins before arriving at the College—so don’t delay—register your teen today!* *Access to class is not guaranteed. Space in class is limited and will be granted on a first-come, first-served basis. Please check the class schedule frequently as space may become available.


Learn more about Nouveau Riche, its education available and it's dedication to the development of youth at http://reinvestorsolutions.com/composer62


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Monday, June 15, 2009

THE WORLD HAS CHANGED !!!

Large image of an ATM Photographed inside a :e...Image via Wikipedia


We have witnessed sweeping global changes in the last few years. The world has been transformed on almost every front. Politically, governments and national boundaries have come and gone. Through technology, we routinely communicate with the farthest corners of the earth in a matter of seconds. Economically, events in far-flung stock markets across the globe impact every market.



But not only governments and economic markets are affected. These global changes also bring about new financial realities on an individual level. The widespread availability of credit cards and automated teller machines makes spending much easier today than in days gone by. And the proleferation of at-home and on-line banking and investing services allows individuals to act more quickly--and sometimes more rashly--than ever before when making financial decisions.



These changes affect virtually everyone in the United States--from our youngest workers and students to our eldest retirees. Yet most youngpeople in America begin their financial lives unschooled in the basics of saving and investing and unaware of how quickly "easy credit" can add up to big debt. For example, in its 1999 Youth and Money Survey, the American Savings Education Council (ASEC) found that forty percent of students are likely to buy a pair of jeans (or something similar) they really want even if they do not have the money to pay for it. And 70 percent would pay for it with a "credit card."



And while most adults have high expectations for retirement, many will fail to maintain the lifestyle and standard of living to which they have become accustomed because they failed to plan and save. According to an August 1998 study by the Employee Benefit Research Institute (EBRI), more than half of American workers--55 percent--have no idea how much they will need to save to save to make their retirement dreams a reality.



Planning for future financial needs--especially for retirement--has also changed. In the past, the burden of planning for the future fell primarily on such external forces as government (through Social Security and Medicare) and employers (through pension plans directed by the employer). Today, however, the responsibility for one's financial future has shifted to the individual.



Over the years I have made incredible amounts of money at my day job in sales of entertainment, real estate and mortgage origination. And, as most Americans, I lived in the day, a boy with his toys, had the cars, the time shares, the big houses yada, yada, yada. In a recent meeting with my business manager, he produced reports from these various incomes. It was simply amazing to learn that the benefits of my own business and investments in real estate were in in fact saviours of our family's retirement. We can make it happen in the next five years, despite our carelessness in financial planning, as we all can. EDUCATION IS THE ANSWER, WHAT'S THE QUESTION?



Let's get together as an American people and start to change our ways, our education system and our lives.



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EDUCATION IS THE ANSWER, WHAT'S THE QUESTION? ®

Excerpts from recent polls and studies highlighting the need for financial education in America.
and we wonder why America is in the RED

America faces a financial literacy crisis. At a time when more Americans than ever before have been investing in our securities markets through the purchase and sale of stocks, bonds and mutual funds, numerous studies show they lack the financial basics. Americans need to learn what questions to ask before investing, how to evaluate financial products and professionals, and how to protect themselves in the marketplace. A well-educated investor provides the best defense--and offense--against securities fraud.

Americans also need to learn the mechanic--and benefits--of financial planning. Few Americans develop financial plans to save for their important financial goals, such as retirement or their children's educations. Yet, those who do develop a plan, regardless of income level, consistently save more.

Key findings of the various studies and surveys showed some very interesting facts:

  • Only 5% of investors believe they know "everything" they need to know to make good investment decisions.
  • Tow out of three households in America--an estimated 67 million households--will probably fail to realize one or more of their major life goals because they've failed to develop a comprehensive financial plan.
  • More than half--65 percent--of all current workers have even tried to figure out how much money they need to save and accumulate for retirement.
  • An alarming number of high school students--70% flunked a basic economic literacy test. Among adults taking the same test, only one-third achieved a score of C or better, and more than half---56 percent failed.
The good news, however, is that education can help, and Americans want to be educated...so EDUCATION IS THE ANSWER, WHAT'S THE QUESTION? It is certainly not hard to see where we are falling short in our educational system here in America. Education needs to refocus to ensure that all Americans are armed with the information they need to make sound financial decisions and protect their hard-earned savings.

I was one of the fortunate ones here in America...or maybe not so. I feel very honored to have the privelge of graduating form UC Berkeley, a top university in America, back in 1974. I received my degree in marketing. I was very interested in economics and took some of those courses as well. I am here to tell you that through that journey, I NEVER even heard the word "mortgage". Is that crazy or what? Imagine the most significant asset I will ever own and no education about it until I got my first one. Whew!!! Was I shocked, even got screwed in the deal. I never even learned about balancing my checkbook...LOL

It seems that the basics in life continue to be ignored in our education system. Other than the discipline of learning, I can't recall when I last used trigonometry or algebra in my check book. Oh well I take that back...I did imagine on many occassions that y=$10,000.00...LOL...guess what the check bounced.

What seems so amazing to me that leaders continue to believe it will all change someday...and with no change on their part. Can you imagine actually believeing we can change the undesired results we are getting without changing the course of action. Don't know about anyone else here, but I followed my mom and dad around like a puppy dog, doing what they did. Then my dad passed away and I stopped following him. I got this great idea that I wanted more than he had, not because I am a materialistic person, just because I had 3 children and wanted more for them.

We as a people have to unite, strive to change this and do it now. We, the adults have to do it, because our children mirror us. I would encourage us to get our educators on line with this so we can change America.