Paul Ferraresi

An associate of ours, Kim Barmann, in New Mexico sent this report. I wanted to share it with you to emphasize the importance of staying vigilant in saving money.

$ People Are Saving Less

• The Commerce Department reports that Americans are saving at the lowest rate since the Great Depression.
• Personal savings stood at a national level of negative $6.2 million in January.
• About 40% of Americans say they are saving nothing for retirement. One reason: Over the past year, inflation rose 4.3% while salaries rose only 3.4%.
• One in four Americans told the Employee Benefit Research Institute that they have no saving at all.

$ Retirement Is Coming Later and Later

• The percentage of Americans 55 or older working full-time increased from 54.2% in 1993 to 64.4% in 2005.
• Nearly one in four people between 65 and 74 was still in the labor force in 2006, compared with just one in five in 2000.
• A recent study indicates that 17% of workers have suffered a reduction of retirement benefits offered by their employers in the last two years. Of these, only one-third say they are saving more for their retirement as a result.

$ Student Debt Is Piling Up

• Tuition cost have climbed 60% since 2000, and the average graduating senior now owes more than $20,000, according to the National Center for Education Statistics-twice as much as graduates owed a decade ago.
• Nearly a quarter of recent grads owe in excess of $25,000.
• While student debt rose 8% from 2005 to 2006, starting salaries rose only 4%.

These are the statistics. Break away from the crowd and do NOT be one of the statistics. Call us if you want to stand out from the crowd.

I see so many people working in a job that they hate. Countless people become addicted to drugs, alcohol or unconventional activities in order to bring pleasure into their lives. When I ask them what their life’s dreams are, I often hear “I want to retire about 2-3 years, or before I am 40 (or 50).” “Why?”, I ask? “Because I hate my job” is the usual response. My retort is, “Then why not leave your job today?” Read the rest of this entry »

“Nothing in this world can take the place of persistence. Talent will not; nothing is more common than unsuccessful people with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan ‘press on’ has solved and always will solve the problems of the human race.” — Calvin Coolidge

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Dear Friends,

Clocks and watches all over the world have the same number of hours in each day – 24. And that’s what we get each day. I have 24, Bill Gates has 24 and Warren Buffett has 24. And you do, too. It’s up to you to determine how to spend every minute.

You can waste your days sleeping late, watching television, hating your job and wishing you had a better life. Or, you can spend your time creating a better life – a world devoted to improving yourself and the lives of others. So what are you going to do with each day’s 24 hours?

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By Paul Ferraresi:

This week I want to talk with you about leaving an impact legacy. “What is an impact legacy?” you may ask. It is how you impact people and the world around you. You see, many people glide through life and do not make much of an impact. That is unfortunate. Others though, those driven by a purpose and passion for living, are continually making the world a better place and making an impact wherever they go. That’s what I believe you want to do.

In order to help you reflect on this during this week, I want to ask you a question: What in the world are you doing?

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