Wednesday, December 9, 2015

Wednesday Memos

Yesterday, I avoided commenting on Donald Trump's latest rant. What can I say that global media hasn't reported with strong commentary. Trump is out of control as if he is an attention seeking member of a reality show. When looking at life that way ... we are a reality show... inflicting pain, struggling for attention, dealing with emotions, etc. And yet in the current political climate there are many who support Trump - their numbers growing. His anti-Muslim rhetoric undermines US national security. The Pentagon warns that his comments could fuel the Islamic State terrorist group's narrative of a US war with Islam. Meanwhile, some legal scholars say a ban on Muslims could survive a court challenge if applied only to foreigners. ... At the end of the day ... we have no one to fix the issues which by now you should recognize as end time events. Is someone going to say the wrong thing, make the wrong decision, push the wrong button/key? It sure looks that way.

The government and media report many things about the finances of Americans ... so why do I see so many people in debt and jobless? Benjamin Franklin once said, "Rather go to bed without dinner than to rise in debt." Americans must have missed that advice. We're one of the most obese countries in the world and bathe in debt on a daily basis. Double-digit interest rate credit cards. Seven-year car loans. Six-figure student debt loads. McMansion mortgages. There seems to be no limit on how much debt some of us will take to the grave. A new survey from finds 21% of indebted Americans believe they will never pay all of their debts off before they die. That's up from 18% last year and more than double the 9% response in 2013. The average American expects to be debt free by age 54, but 48% of indebted Americans say they'll remain in debt until age 61 or older. Millennials, known as the student debt generation, are surprisingly more optimistic about their finances than any other age group, with only 11% claiming they'll never be debt-free. Read more

In trying to support their families - both married couples and single parents work to help make ends meet. A situation faced by many of my current clients is - how does child care factor in when both parents are working and children need to be supervised before and after school? Some people are lucky and have good childcare while others cannot afford it. Then there's the emotional package that comes with parents who work full time coming home exhausted - their children seeking attention. Many of these parents need to work not only for the income but the medical insurance that keeps them in jobs where they are overworked and under paid. More burnout. Can this be fixed? Not until the children are older.