Wednesday, June 15, 2011
In line with what we talked about the other day, Gallup did a survey and found that of all the financial issues that Americans are facing today, we’re most concerned about not having enough money for retirement . . . 66% of us, in fact. Reducing our expenses now and moving that “extra” money to a retirement or investment account will help us all address that concern. With a little creative juice (think NSE), we won’t have to lose our standard of living by too much, which is our third biggest concern (58%).
Our sixth biggest concern, by 41%, is not having enough money to pay for our children’s college education. There is a lot of talk on the Internet these days about the “higher education bubble” and the virtual “debt slavery” our kids take on in order to get a college degree. Now is the time that we need to assess whether paying $50,000 to $300,000 is worth a higher education degree, especially with about one in four recent college grads not being able to find a job right now.