I recently got back from visiting LIFE Leadership founder and #1 USA Today, Wall Street Journal and New York Times Best Selling Author Orrin Woodward down at his place in FLorida where he gave a talk on the following article for a group of us there.
I am blessed and honored to be partnered with Mr. Woodward and the other founders of LIFE Leadership. I have completely different thinking on finances and economics as well as leadership and for the FIRST time in over 30 years have a savings built up as a result of applying the principles LIFE Leadership teaches.
I am simply copying this from his page as there is no way I can put it into better words.
High-paying longterm jobs are exiting North America at an alarming rate. Nonetheless, citizens of America and Canada seem unable (in some cases unwilling) to cut expenses. The latest numbers on American indebtedness (Canadian numbers are similarly dismal), both consumer debt and home mortgages, is staggering.
The latest GoBankingRates report found the average American is more than $225,000 in debt with little savings. The website identified (using the earnings, savings, and various loans) the “average American’s” (calling her ‘Mary Smith’) financial status.
GoBankingRates editor Jennifer Calonia stated that, “Mary is 37, the current median age of an American. She’s a non-Hispanic White, the largest demographic in the country, and she works in retail sales, the most common occupation in the United States”
Unfortunately, Mary’s pay and debt load is a train wreck in progress. Calonia noted, “Until we witness a much more dramatic return to permanent, long-term employment in the private sector, Mary Smith’s scenario, which leaves her drowning in debt and without adequate savings, will continue to play out, especially as more companies rely on temporary, low-wage work.”
According to the latest USA data, the real (inflation adjusted) median household income was $51,939 in 2013. However, one must remember that household income is the combined incomes from everyone working in the house. Basically, this means the average personal income is somewhere around $30k. Further, the total income has trended downward since 2007, falling 8% from the pre-recession peak of $56,436 and remains well below the 1999 record of $56,895.
In other words, household income, over the last 16 years, has actually gone down! Imagine working for 16 years straight only to receive less money than one did originally. To compound this pain, inflation has caused most other prices to skyrocket, leaving Americans bewildered and frustrated. This simply cannot continue indefinitely. Compare the average income of Americans with the average debt loads and a forthcoming financial disaster becomes apparent.
Here is a summary of the average debt numbers.
Average credit card debt among indebted households: $15,263
Average credit card interest rate: 14.95% APR
Average mortgage debt: $147,591
Average outstanding student loan balance: $31,646
Average auto loan debt: $30,738
Only 59 percent of Americans have at least $500 in a savings account saved.
LIFE Leadership has the Financial Fitness Program to help people across the world learn how to play defense and offense in order to break free from the increasingly oppressive Financial Matrix. Few understand the difference between expenses and investments and, unfortunately, most people maximize expenses while minimizing investments. LIFE Leadership, in contrast, teaches how to build wealth for the longterm by slashing expenses and investing in your #1 asset – yourself. If you are looking for an escape path from the Financial Matrix, LIFE Leadership has is the fasttrack. I feel like Morpheus explaining to people trapped in the matrix the plan to set them free:
Morpheus: When the (Financial) Matrix was first built, there was a man born inside who (he purchased a Financial Fitness Pack ) had the ability to change whatever he wanted, to remake the (Financial) Matrix as he saw fit. It was he who freed the first of us, taught us the truth : ‘As long as the (Financial) Matrix exists, the human race will never be free.’ After he died, the Oracle prophesied his return, and that his coming would hail the destruction of the (Financial) Matrix, end the war, bring freedom to our people. That is why there are those of us who have spent our entire lives searching the (Financial) Matrix, looking for him. I did what I did because…I believe that search is over. – (LIFE Leadership is here.)
Isn’t it time you learned the Defense, Offense, and Playing Field of finances so you too can break free from the Financial Matrix?
Hopefully this opened a few eyes out there. We all “kind of” know it’s happening and we all “kind of” see it but many are to “busy” or to “entertained” to realize the sense of urgency of getting out of it.
There IS hope. There IS different information and there IS…..another way…