05:22:2019 On The Nrink Of Disaster-Most Americans Living Paycheck To Paycheck

True Wealth Radio

05/22/2019

On The Brink of Disaster-Majority of Americans Living Paycheck To Paycheck & Middle-East Christian Genocide at The Hands of Islam

Living on the edge, being dragged down by debt, and having little hope for the future is no way to live. But that is precisely where most Americans find themselves in 2019. Despite a supposedly "booming economy", the middle class continues to shrink and most of the country is barely scraping by from month to month.

In fact, a brand new survey that was just released by Charles Schwab discovered that 59 percent of all Americans are currently living paycheck to paycheck...

Overall, 59 percent of Americans live paycheck to paycheck, according to the survey of 1,000 U.S. adults by Charles Schwab, However, the Millennial generation (people ages 23-38) was the most likely to struggle in between payday, at 62 percent, followed by Generation X (60 percent), Generation Z (55 percent) and Baby Boomers (53 percent).

In a study recently conducted by researchers at the University of Chicago found that 51 percent of all "working adults" would not be able to cover basic necessities "if they missed more than one paycheck"...

So when the next recession strikes, millions of Americans that suddenly lose their jobs could find themselves facing financial disaster almost immediately.

The survey that was just released by Charles Schwab found that there are a lot of reasons why Americans are living paycheck to paycheck, and "rising college debt" is one of them...

'Spending is certainly one factor,' said Terri Kallsen, executive vice president for Schwab Investor Services.

'But especially for younger Americans, we know there are factors beyond their control that make it difficult to save, including rising college debt, stagnant wages and the high cost of living, particularly in urban centers,' she told DailyMail.com.

Today, Americans owe more than 1.5 trillion dollars on their student loans, and it is a bubble that keeps getting worse with each passing year. The following numbers about our growing student loan debt crisis come from CBS News...

Currently, 43 million Americans have student debt. The average household with student debt owes almost $48,000 and 5.2 million borrowers are in default.

Meanwhile, college costs keep rising. At Ohio State, a public university, in-state students pay $27,000 a year. Stanford University costs $74,000.

Personally, I don't know why anyone would ever pay $74,000 a year to go to Stanford.

And as far as Ohio State and other public universities are concerned, the truth is that you can get a better education from the Internet without too much effort. I spent eight years studying at public universities, and the quality of education is a joke.

But we fill the heads of our high school students with all of this nonsense about how college "is the key to a bright future", and we encourage them to not even worry about how much it will cost.

So they pile up enormous loans, and many of them don't even realize that they are destroying their financial futures until it is too late.

Thirty-five percent of Americans admit they feel pressured to spend more than they can afford after seeing images of their friends' lives on sites like Facebook and Instagram, according to Schwab's 2019 modern wealth survey.

The FOMO effect is most dramatic for young adults. About half of millennials and 44% of Generation Z (those born approximately between 1995 to 2015) acknowledge their spending habits are at least partly shaped by social media.

Once upon a time, Americans were concerned about keeping up with the neighbors, but these days social media is where everybody shows off.

And this is particularly true when it comes to Instagram. As far as I can tell, Instagram is the perfect social media platform for narcissists. Everyone is constantly posting photos that show how attractive, wealthy and adventurous they are, and those with the most followers tend to be ultra-attractive, ultra-wealthy and/or ultra-adventurous.

But for most of us, life is not a constant stream of Instagramable moments. Instead, life is about doing the laundry, trying to save some money on the groceries and scooping poop out of the cat litter.

If you try to keep up with the fantasies that you see on Instagram, the truth is that you will go broke really quick.

And study after study has found that is precisely where about half the country currently is...

A study from home repair service HomeServe USA found that roughly 50% of consumers either have nothing set aside to cover an emergency or less than $500 put away. And research from the Federal Reserve has indicated that roughly 4 in 10 Americans couldn't afford a $400 emergency.

One of the things that I always stress with my listeners is that if you ever want to make financial progress in life, you have to build wealth.

If your paycheck goes up, that doesn't mean that you should start spending more money. Instead, you should look at it as an opportunity to start saving more money.

But for most Americans, the future is now, and that means that most of them will ultimately end up facing financial disaster down the road.

Data & Information derived from 05/22/2019 Article from

http://www.prophecynewswatch.com/article.cfm?recent_news_id=3215

An Iraqi Christian Genocide

ISIS came in the summer of 2014 and nothing has been the same since. The terror group attacked Nineveh Plain cities, towns, and villages where they deliberately destroyed churches, businesses, homes, and infrastructure amounting to a US government-recognized genocide.

To support the return of thousands of families to their ancestral towns, Iraqi Christian Relief Council has been working with the communities on the ground in Iraq through the donations received for the Operation Return to Nineveh initiative. Through your generosity we have been supporting education, medical needs, rebuilding of homes, building water infrastructure, feeding the persecuted families, furnishing their homes, and distributing Bibles, just to mention a few.