WhatFinger


Rising education and medical costs, on-going credit card interest payments, well used personal lines of credit and large mortgage debt and home equity loans

Americans are in deep debt!



Rising education and medical costs, on-going credit card interest payments, well used personal lines of credit and large mortgage debt and home equity loans – most a penchant for living beyond their means - is keeping 75% of American households in some degree of debt. Take a look and then pass it on to your friends, neighbors and co-workers.

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The bankruptcy law firm of Wink & Wink P.L. (winkandwink.com) put together the following graphic chart that clearly illustrates just how deep individual American citizens are in debt. The median American family carries more than $170,000 dollars in debt while earning just $49,400 per year according to the latest Census Bureau statistics. The graphics are provided for you by munKNEE.com (Your Key to Making Money!). image Related Articles: 1. In Debt? Here are 10 Ways Out When people talk about getting their personal finances in order, they usually try to find relatively pain-free and low-cost ways to reduce debt and increase savings but this is a long-term approach which some people just cannot “afford”. [For them] …it may be worthwhile to consider taking the hard way out of debt. [Let me explain.] 2. 10 Money Ideas That WILL Change Your Life Personal finance isn’t nuclear physics – just spend less than you earn, save and invest the rest – but knowing what should be done and actually doing it, however, are two different things. Here are 10 money lessons I wish I had known when I was 20 which have the power to change your life if you are willing to embrace them. 3. Is $1,000,000 Enough to Provide for a Successful 30-year Retirement? Withdrawing from a $1,000,000 nest egg upon retirement using the familiar 4% rule to generate a successful 30-year inflation-adjusted (3% per annum) retirement proved to be totally inadequate as per the retirement withdrawal strategy that I put forth in a previous article (1). In fact, it crashed and burned in year 25 of the 30-year plan! In fact, as I show in this article, it will only succeed if your portfolio outperforms the S&P 500 by 5% every year for 30 straight years – and what is the likelihood of that? 4. Are You a Millionaire? 10 Reasons You May Not Be and What to do About It The reason you are not a millionaire (or even on your way to becoming one) is really quite simple. You probably assume it’s because you aren’t earning enough money but the truth is that, for most people, it does not matter how much money you make… [but, rather,] the way you treat money in your daily life. [Let me explain.] 5. More Reasons You May Not be a Millionaire – Yet Many people assume they aren’t rich because they don’t earn enough money. If I only earned a little more, I could save and invest better, they say. The problem with that theory is they were probably making exactly the same argument before their last several raises. Becoming a millionaire has less to do with how much you make, it’s how you treat money in your daily life. The list of reasons you may not be rich doesn’t end at 10. [Here are 10 more.] 6. AARP Survey: Golden Years Appear Grim to Aspiring Retirees An AARP survey of over 5,000 American workers aged 50 or older has confirmed…that the Great Recession has radically changed the financial situation for many aspiring retirees and that the outlook for their golden years now looks grim. It seems that counting on their home equity to finance a life of leisure didn’t exactly work out as planned. [Let's review the survey's findings.]


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Lorimer Wilson -- Bio and Archives

<em>Lorimer Wilson is the Editor of munKNEE.com

Lorimer is also a writer, analyst and commentator on the economic, financial and investment environment around the world and has recently been identified as the 12th most-read such writer on the internet out of over 500 frequent contributors.

His articles are unique, insightful, informative, instructive and well researched analyses of the economy and marketplace and posted regularly on more than 50 financial sites at the present time.

Lorimer also is an accomplished editor posting edited excerpts of other author’s articles on his site to provide his visitors with a fast and easy read of some of the best articles to be found on the internet on any given day.

His editorial skills are available for hire should you have an article, book or other written material that needs to be fine-tuned before publication. </a>


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