Making Sense of Investing

Our current troubled economic times have brought to the forefront the importance of planning for the future through smart investing. This website details some sobering statistics on savings, retirement and investment issues: http://www.mdmproofing.com/iym/hfstats.shtml

• The American Savings Education Council's 2004 report, Saving and Retirement in America, states that among all workers, 45 percent have less than $25,000 in savings and investments (aside from equity in primary residences). In the age group 25-34, 64 percent have less than $25k in savings; in the age group 35-44, 48 percent have less than $25k; in the age group 45-54, 30 percent have less than $25k. According to a 2002 survey by the Consumer Federation of America, 25 percent of U.S. households have net assets of less than $10,000.

• In his book The Total Money Makeover, Dave Ramsey cites the Wall Street Journal as reporting that 70 percent of Americans live paycheck-to-paycheck. He also cites a poll from Parenting magazine which found that 49 percent of Americans could cover less than one month's expenses if they lost their income. The 2003 MetLife Study of Employee Benefits Trends bears this out, reporting that 52 percent of employees live paycheck-to-paycheck. The surprise? Among high-earners ($75,000 or more), an alarming 34 percent claim this distinction. The survey found that 87 percent of low earners ($30,000 or less) do so.
  
  

The following are a sampling of the resources available through your local branch of the Jefferson County Library to help you make sense of it all:

• All About Stocks: the easy way to get started by Esme Faerber
  


• The Everything Personal Finance in Your 20s & 30s Book: erase your debt, personalize your budget, and now plan to secure your future by Debby Fowles
  


• Financial Planning for the Utterly Confused by Joel Lerner
  


• Expecting Money: the essential financial plan for new and growing families by Erica Sandberg
  


• Jim Cramer's Stay Mad for Life: get rich, stay rich (make your kids even richer) by James J. Cramer
  


• Saving For Retirement without Living Like a Pauper or Winning the Lottery: retirement planning made easy by Gail MarksJarvis

Good luck! Remember the only person truly watching out for your future is you. Take advantage of two free upcoming financial workshops at the Arnold Branch. Experts from Edward Jones will discuss "Outlooks and Opportunities: The Answers You Need in Today's Market" on August 13th at 10am. That same evening there will be a workshop entitled "Retirement Reality Check: Now's the Time to Get a Head Start on the Rest of Your Life" at 6:30pm. Registration is requested for both events. Call 636-296-5171 to reserve a spot today!