Federal Reserve: Median working-age couple has saved just $5,000 for retirement.


The numbers are pretty startling.

Nearly 7 in 10 Americans have less than $1,000 in savings.

1 out of every 3 Americans has nothing set aside for retirement.

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And, according to Federal Reserve data, the median working-age couple has saved just $5,000 for retirement.

How is this even possible?


How could it be that the citizens of the wealthiest country to have ever existed in the history of the world barely have any savings?

Simple. The cost of living has skyrocketed over time. It’s become terribly difficult for tens of millions of people to keep up. Just look at the data—

Housing prices, once again, are at all-time highs. And for those who choose to rent instead of buy, rents in many cities have also reached all-time highs.

This is especially difficult for the Millennial generation, which finds itself spending over of 40% of disposable income on housing costs.

If you add in student debt (which continues to plague millennials), that takes even more money out of their pockets each month.

And God help you if you decide to have children, the cost of which is now at a record level.

According to a study published last year by the US Department of Agriculture (not sure why they’re the ones looking into this…), the overall cost of raising a child from birth to age 21 is now a whopping $233,610.

Private studies have pegged that amount even higher, in excess of $300,000.

And, not that there’s any inflation, but childcare costs have risen so rapidly that it has become impossible for many families to keep both spouses in their careers.

Then there’s the costs of insurance and medical care, which continue to soar to record levels.

Healthcare costs in the United States are now at the highest levels EVER.

But even more importantly, the RATE at which costs are rising reached their highest level in 32 years.

It’s no wonder that people aren’t able to put any money away… or that, despite a brief dip after the Great Recession, consumer credit is once again exploding.

Just like their federal government, Americans are once again heavily indebting themselves.

And it’s easy to understand why: they just can’t make ends meet.

The tiny silver lining is that wages have finally started to grow, albeit slightly.

But wage growth has been vastly outpaced by the rising costs of major expenses– like housing, childcare, insurance, and healthcare.

If you find yourself in this situation… struggling without any real sense of security… I’d encourage you to at least consider one out-of-the-box solution:

Think about going overseas.

It’s 2017. Your ability to generate income no longer depends on geography.

I have friends who run a small