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Lance T. Walker

           Lance T. Walker, Author

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Breaking the Financial Trap;
Part II of VI

Use today's technology to work from home and set your family financially free!

The Nature of the Problem

All over the world, the "safety net" our parents relied on - pensions, government support, and living wages that encouraged savings - has been quietly dismantled. There is no longer a social contract between employees and employers; the responsibility for providing for retirement has been almost completely shifted to the individual.

Meanwhile, the cost of getting older is escalating at an alarming rate. Our kids' college tuitions are going up as much as 20% a year or more. Our parents' medical and nursing care costs are skyrocketing. We're watching our healthcare systems implode before our very eyes.

And deep down inside, we know that the recent federal tax cuts are resulting in budget shortfalls at the local level, which will trigger tremendous tax increases later on, as vital services are eliminated and our bridges, roads, sewers, and other infrastructure crumble for lack of proper maintenance.

We cringe when we see yet another senior citizen handing us fries at the drive-through window, knowing they should be at home having meals served to them instead.

We cringe, because we know that someday soon, that could be us. We don't want to think about it, but deep down, we know that more and more people are simply destined to work until they die. And there's a quiet, rolling fear building in our guts.

In fact, according to the 2008 Retirement Confidence Survey, only 47% of American workers have even bothered to calculate how much money we'll need to save by the time we retire - much less formulated a plan for actually saving it.

Many of us have gambled on the stock market - and lost. Our paychecks are stagnant; that is, if we haven't been laid off recently. The latest refinancing boom has left millions of us with little or no real equity in our homes, and forclosures are at an all-time high. (Take advantage of that little reality here.)

So, for many of us, it's too late to just save our way out of this mess. If we want to "beat the system", and escape the trap with our financial lives, we're going to have to improve our credit and increase our incomes - quickly and dramatically. But is there a way to honestly, legally, and ethically do so?

  Next - Part III: A Bold Solution

 


 

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