To own our own home is the American dream. The archetype of this dream is a single-family home with a yard, a white picket fence and a dog. To be sure, a home of any kind is what most Americans dream of for themselves and their families. Essentially, we all want a place to call our own, a place to feel safe and a place of familiarity.
Being rich is what so many of us want. Why? Being rich has many definitions. For some, it defines success. For others, it means winning. It means freedom, responsibility or freedom from responsibility. For some, it means all of these things. What’s it mean for you?
As many of our readers know, when we finally started to correct our financial mistakes, we decided our ultimate life goals were to travel and save for retirement. That decision or that clarity came about nine years ago. We are happy to say that they are still our goals. Apparently, our long, introspective discussions worked.
A recent University of Michigan study suggests that the percentage of U.S. families who own stocks dropped from 30 percent in 2001 to 18 percent in 2011. Preliminary 2013 studies suggest the percent ownership is now 16. Further research suggests that participants who drop out of the market typically do so because of financial distress, frequently increased in recessions.
Last week was momentous for us. We released our third eBook, #MoneyConscious Financial Planning Guide: 12 Steps to a Richer You. We were elated to have friends and family purchase our book and watched it debut in the top 10 on iTunes’ “Business & Personal Finance” chart. Thanks to all those who supported us.