"EVERY WORKING AMERICAN SHOULD BE AN AUTOMATIC MILLIONAIRE"
We welcome your comments about our blurb "EVERY WORKING AMERICAN SHOULD BE AN AUTOMATIC MILLIONAIRE" about the actual causes of wealth and poverty in America. Do you agree or disagree? Do you have any insights that you would be willing to contribute to the discussion of this controversial subject? We think that the easily fixed Social Security and Pension mess that government malfeasance has created is literally a matter of economic survival, and are concerned that so many people are afraid of the simple solution (actually saving so that you will be able to afford your own retirement expenses or help your family) which will avert an impending and otherwise unavoidable financial catastrophe if government continues to immediately spend every last cent of the money that people think that they are saving. Have we drawn the correct lessons from history? Click on "POST A COMMENT" (First click on "COMMENTS" if you are on an index page) to add your thoughts.
posted from CPRR Discussion Group at 11:23 AM
3 Comments:
It is stunning and disappointing that so few Americans save the way the Chinese Central Pacific Railroad workers did.
Most Americans fail to save: "69% had less than $1,000 in their savings accounts, including 34% of respondents who had zero, zilch, nada! Just 15% of total respondents had $10,000 or more in their savings accounts, implying that few Americans have enough in their savings account to cover an emergency should one arise."
"The Chinese [railroad workers] ... are paid from $30 to $35 in gold a month ... They are credited with having saved about $20 a month." —Alta, California, November 9, 1868 Newspaper.
" ... Chinamen ... receive $35 per month (gold) ... Of this they save from $20 to $23. ... " —The New York Tribune, June 26, 1869.
Also see a terrific website discussing sensible long term investing.
Post a Comment
<< Recent Messages