By Dr. John Beckem
According to uscourts.gov, as of the twelve months ending June 2016, there were over 800,000 consumer bankruptcy filings with some of those being Chapter 13.
Families need help! We’re finding that being consistent throughout America. About 1 in 5 have enough saving in an emergency fund to cover less than three months of expenses. This means that if you lost your job and had no more money coming in, that you could only barely pay your bills for three months.
There’s actually a trend that’s showing that most people are living paycheck to paycheck. They don’t even have the three months. In fact, 72% feel the need to work after retirement and only 44 percent have actually tried to figure out how much they will need by the time they retire.
Simply put, a lot of people just don’t try to figure it out what it will take to cover their living costs after retirement. It’s overwhelming. They don’t want to think about it. They say: “I’ll cross that bridge when I get to it.”
That is an absolutely disastrous financial plan!
But don’t worry. There is hope. If you’re reading this article you’re here because you’re looking for some alternatives; some ways to get help. And there is hope. There is an alternative lifestyle to being stressed, being burdened, being frustrated, and in bondage to debt.
The Life After Debt Blueprint will equip you with the tools necessary to build generational wealth if you are committed to work hard, and determined to end your voluntary slavery to debt.
Dr. John Beckem is a Personal Finance Expert, Educator & Consultant. He helps middle income individuals and families free themselves from debt and build generational wealth.