The need for money management skills
| The average American will be fully employed for a minimum of 40 years. During that time, more than a million dollars will pass through the average workers hands. Try doing the math and figure out how much money you might make given different salary averages. Remember...careers requiring hirer educational levels usually pay more! | |||
Don't want to work the rest of your life? 34% of Americans have not even
begun to prepare for retirement. 55% say that their major obstacle to
saving is a continuing focus on today's expenses, rather than their
financial future.
| Want to live the good life after you put in your 40 years? The average age
at which Americans expect to retire is 61, yet they expect to live to an
average age of 83, translating into 22 years in retirement. Yet if
Americans don't change their money management behavior, most will be forced to
live on only $28,000 (current dollars) a year in retirement — relying
on a combination of Social Security, pension, and savings. Plan on increased
medical costs, and that leaves very little for shuffleboard games and travel!
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