Poorer Than You Think: Money and Wealth in America

"Rich Americans", that's our global reputation. We share that world view and never seem to wonder how are we really doing.  When you look at money and wealth around the world, Americans are poorer than we think.

One of the most useful calculations a person can make when it comes to their personal finances is to figure out their net worth. Simply put, net worth is the value of your assets (what you own) vs. your liabilities (debts). The average net worth of Americans is $301,000 per adult. Our country ranks number 4 in net worth behind Switzerland (#1), Australia (#2), and Norway (#3). Sweden, France, Singapore, Denmark, Canada and United Kingdom fill our the rest of the top ten respectively.

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On the Record: Serena Williams, Queen of the Courts

On Sunday, Serena Williams won her 18^th Grand Slam and proved once again that she is “Queen of the Courts”. The Women’s Tennis Association ranked her number one in women’s single’s tennis on 6 separate occasions. She recently won her 6^th U. S. Open championship. She’s earned more than $50 million dollars in prize money, is worth an estimated $100 million and this year made Time Magazine’s list of the 100 most influential people.

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On the Record: Meet Atty General Eric Holder Pt 1

Attorney General Eric Holder makes his way to Ferguson, Mo in the wake of civil unrest after the killing of Michael Brown. After briefing President Obama on the situation, Holder informed the President that he would visit the site himself. His visit is scheduled to begin on August 20th. I thought it might be interesting to learn a bit about the highest ranking law enforcement officer in America.



Eric Himpton Holder, Jr.,  serving in the administration of President Barack Obama, is the first African American to hold the position of U.S. Attorney General. He was sworn in as the 82nd Attorney General of the United States on February 3, 2009 by Vice President Joe Biden.

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Erasing Your Debt: Do's amd Don'ts

Some folks are trying to keep it a secret that the economy is improving. Polls say Americans are uncertain about their financial future. The data shows that Americans are racking up more debt in spite of their so called "uncertainty".

NerdWallet.com reports that our collective total debt is $11.74 trillion, up 5% from last year. the average debt for credit cards is $15,480, mortgage debt is $156,474. and student loans is $33,474 for Americans.

Experts say people make rookie mistakes when trying to rid themselves of debt. Here are some of the major no-nos: Taking out a pay day loan or title loan; transferring a balance to a new zero interest credit card, but failing to pay off the balance when the higher interest rates kick in; borrowing from a 401 (k) retirement account, especially if it involves paying a penalty. Putting creditors on a rotation, that is paying one creditor while making no payments on other debts is another bad idea. These methods seem to be a recipe for disaster. Debt settlement and bankruptcy should only be considered when you've run out of other options.

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Winning the Challenge: Weight Loss Strategies

Several years ago, my family viewed a video from our annual Christmas Eve celebration. We were confronted with the fact that we all needed to lose weight. We started a family "Fit Club" and worked together to eat healthier, move more, and improve our health. In spite of the fact that we have collectively lost more than 240 pounds, our weight loss challenge continues.

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