Baby boomers 'can't afford to retire'
FEWER than 20 per cent of Australia's baby boomers have adequate superannuation and private insurance cover to fund their health care in retirement, a new study finds.
It found nearly 60 per cent of the 6000 people surveyed did not have private health insurance and many did not know how they would pay for medical care in their old age.
Many thought they would get by in retirement with the help of government or inheritance.
"But also quite a few of them now recognise that superannuation isn't going to provide them the financial platform that they need when they retire." The Australian
Really the only way to have control of your Financial Situation is to operate your own viable business.
John Counsel
The US economy has shed jobs for five straight months now, and the percentage of homes in foreclosure is the highest in decades. Also, about 47m Americans lack health insurance.
US Driving falls first time in 30 years on oil prices
Andrew Edwards | May 24, 2008
In March, US driving fell an astonishing 4.3 per cent on a year earlier.
At first it was thought the decline could be seasonal. Then came March, and the largest year-over-year driving drop in the agency's recorded history.
The US Social Security Board reports that 85 out of 100 Americans reaching age 65 don't even have $250. And only 2 percent are self-sustaining.
Statistics show that, at age 65, after working 40 years:
- 1 percent are wealthy
- 62 percent have less than $6,000 annual income
- 79 percent have total assets of less than $35,000
- 80 percent have incomes of less than $15,000 per year including Social Security
On being Average
The average American rarely leaves his or her comfort zone. As a result, the average American household is $8000 in debt. The average American spends more than they make. The average American will not be able to=2 0retire comfortably. You donıt want to be average. And the only way to move from ordinary to extraordinary is to leave your comfort zone TODAY!
Measure Your Wealth
Robert Kiyosaki's definition of wealth is the number of days you (or anyone else in you household) can survive without physically working, and still maintain your standard of living. Using this definition, you can measure your wealth by calculating how long you could survive if you, and/or your spouse, lost the ability to work tomorrow, how long would it be before you lost everything you owned. If you come up short do you have a plan to remedy the situation?
U.S. Unemployment Up Sharply
June 6th, 2008
The U.S. lost jobs in May for a fifth month and the unemployment rate rose by the most in more than two decades, signaling that the worldıs largest economy is stalling.
