Did you get a look at today’s front page of the USA Today? There’s an
article about senior adults and their credit card debt. I’ll put a link at the
bottom of this page, but I think that the following few sentences sum
up the issue:
Unmanageable debt is forcing some older people to delay retirement.
It’s nudging others already out of the workforce back in. And
it’s causing a record number of seniors to seek bankruptcy-court
I hope that you will take a second and read the entire article. Many seniors,
struggling with the rising costs of health care, are going into debt in order
to meet their financial obligations. This is a very sobering article. If you are
a young person, I suggest that you take this article, and its conclusions,
There are times when I want to “relax” a bit and buy things that I don’t
really need. An article like this one really helps to put things into perspective.
Please note: There is a line in the article about talks about a family that had to pay $140,000 in health care costs that insurance didn’t cover. This sounds like a lot. But think about this: A ONE-TIME investment of $5000 growing at 12% would equal a little over $140,000. So, do you really need that new HDTV? How about those “sweet rims” for your car? The decisions that we make NOW will dramatically affect the quality of our lives in the future.