Betty Anne Grillo, click
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Blogs by Betty Anne Grillo
Has your net worth decreased dramatically? 6/13/2012 7:42:16 AM
When shocking headlines affect your life
Has your net worth decreased dramatically over the past few years? I know mine has. I’m sure you’ve heard this shocking story because it is all over the news. Chances are–if you work, and had saved enough of your hard-earned money to buy a home–your net worth is not what it used to be–these headlines are your reality. The funds you planned to use for retirement have all but disappeared, and your home is probably worth less than what you owe on it.
I know that much of what we hear in the news seems arbitrary, and just something for the talking heads to discuss (keeps them in a job). Truth is, the latest news that the net worth of the average American dropped approximately 40% in just four short years hits YOU squarely in the checkbook!
Let’s face it - average people don’t have the advantage that federal, state and local governments do to increase and create new taxes so they can collect additional money. Governments can spend more than they take in because we have no choice but to pay what they determine is our fair share. We don’t have the options that unions and big businesses have to receive tax credits– because their collective amounts of money control people in powerful places.
What we can do as our overall net worth shrinks is look into ways to make the amount of personal debt we owe shrink too. Our money no longer stretches far enough to pay what we were once able to pay–before the financial meltdown of the world. Alternatives that hard-working people would never have contemplated before may be just the right decisions to make now. Our economy has been reduced to many people scrambling for the crumbs that fall off of the gluttonous table of government. Don’t you and your family deserve more than scraps?
