Earlier I put this link from Business Insider about the "grim state of American wealth " in the side bar but wanted to expand on it a little. From the article;

  • Despite the rise of the stock market, a recent report from the Federal Reserve shows families are generally worse off than they were in 1998.
  • Since then, median net worth has dropped 8% — and while net worth has decreased, debt has increased.
  • Incomes may have seen an uptick, but they're still lower than they were previously.

This has been part of the dilemma of this recovery/expansion. Some metrics look good and some, like the ones above and others look terrible.

Taking a page from Joe Moglia's book; no one is going to care your finances and wealth more than you. Regardless of where you, or anyone you know, falls in the wealth spectrum, any sort of improvement has to be self driven. Expecting someone (person or the government) to do something for you is a losing game. It can happen, but expecting it is problematic.

Although not applicable to everyone, most people could live below their means. The extent to which this can make life so much easier is immeasurable. A simple way to view this is that if you make enough to pay your bills, save a little and then have a little left over to have some fun then you're better off than most people. This can be as simple as buying a house where you take on a $1500 mortgage instead of a $2500 mortgage and driving cars for at least ten years instead of four or five.

Just a quick post as I don't envision any sort of top down solution for these issues.