America has an epidemic of overspending. Among the evidence supporting this conclusion is a 2005 study, published on the US Department of Labor website, of the retirement savings behavior of baby boomers. The study found that 56 percent of baby boomers live hand to mouth, at best: 19 percent indicated they spend more than their income and 37 percent spend every penny they receive.
Rick Kahler, CFP, resides in Rapid City, South Dakota and is a fee-only financial planner. He is the co-author of "The Financial Wisdom of Ebenezer Scrooge" and "Conscious Finance," both available on Amazon.com. You can learn more about Rick at wwww.kahlerfinancial.com.
Unfortunately, no one is going to do it for them/us!
rapidcity55 3 years ago