Disturbing News from the National Bureau of Economic Research and the Discover US Spending Monitor in an article about "wallet fatigue" published in Sunday's New York Post.
- "The middle class and the upper-middle class are looking at falling home prices, income raises that fall short of the inflation rate, an unemployment rate that barely moves and a reluctance to dip into savings.
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"25% of Americans report that they certainly could not come up with funds to cope with a financial shock within 30 days".
"42.4% of respondents to the Discover Monitor say that they are running out of money when paying bills" (i.e. not enough to make ends meet")
"NBER warns that there is also "a sizable fraction" of people who have made high salaries, but now nearing retirement without substantial assets".
We sell a variety of deferred payment solutions that can give someone the effect of "a salary that they cannot outlive".
Cite: "Not This Week" New York Post June 19, 2011 p 34
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