Wednesday, July 23, 2008

Wealth is Lots of Money?

By any standard you care to measure wealth, Americans are the wealthiest people that have ever lived on the face of the earth, bar none. But it wasn't always so.

Net worth is the difference between a family's assets and liabilities.
The average net worth in the United States in the 1980's was around $20-$50,000 As the years went by, American citizens experienced an increase in their net growth.From 1994 to 1997 average net worth rose a robust 17.4% and continued 10.3% between 1998 and until it it is around $93,100 today. Most people would be amazed by how much they are worth. I heard on the radio recently that anyone who owns a house today will be a millionaire by the time they retire!

So why do media scare stories seem to work for so many people?

People lose heart when they look around them and see others who are doing so much better.

For example, Hilary Clinton released her 2000 to 2006 tax returns recently and disclosed that she and her husband have earned $109 million over the last eight years, a watchdog group reported.

Sen Edward Kennedy, Democrat-Mass, jumped from an average net worth of $7.1 million in 1995 to $102.8 million in 2006.

The wealthiest members of Congress, based on their average worth, were Rep. Jane Harman, Democrat, CA, at $409.4 million, Rep. Darrell Issa, R-CA at $337.4 million, and Sen. John Kerry, Democrat-Mass., at $267.8 million. (source story). But the average Congress person has a net worth of over a million dollars.

But there are many ways to earn lots of money. Persistence and a little creativity are keys to succeeding.

Take for example Kaile Warren of Rent-a-Husband.

Or a company like Max International , that helps average people earn above average incomes.

To quote Winston Churchill, Success is the ability to go from one failure to another with no loss of enthusiasm and many successful people have proven this age-old adage.