Are we heading toward a recession, given the dismal job growth number for May? Or – will a recession result due to tariffs on Mexican products and the looming trade war with China? These are legitimate questions we hear everyday. Here is my take. If you have too much credit card debt, or you lost your job, or are unable to find a job paying you the wage you need to live on, these questions do not mean anything. The question that means something is, “What should I do to improve my situation?” As obvious as this point is, I think the pundits often lose sight on the important issue. The important issue is not the macro – global issue, it is the micro issue – “What about me; what should I do?”
The answer to the question should be obvious – but for many (probably most) of us, it is not. The answer is you need to investigate your options with the goal of preserving your future income for you and your family. The investigation process should be designed to determine the method that will allow you to eliminate your debt at the least cost and in the fastest manner. By doing so, the sooner your future income will be used to rebuild your credit standing and far more importantly – a portion will start accumulating as savings for retirement.
Being 70, with no money in the bank, with credit card debt and insufficient social security – means something – and it’s not good. Your goal should be to avoid becoming one of far too many Americans that find themselves in this boat. Also – if you land in this boat – there are solutions to get rid of all of the debt right away – so you have the best chance of making the retirement funds you have cover your expenses. The key, in both situations (avoiding the boat or ending up inside it) is to find out what is the smartest solution.
You (your friends or family members) can obtain that information. I don’t suggest you Google it – there’s too much out there and you will not be able to segregate the good information from the bad. The easiest way – is to either call us for a FREE Consultation (which you can do anytime) or attend next Wednesday evening’s FREE Seminar – “Debt Free is a Grand Slam to Win – Nothing is Better!” – it’s June 12th at 6 PM. Details to sign up are set forth below. In case you are wondering about the name of the Seminar – it represents my continuing hope for a turnaround for the Tigers!
Have a great weekend,
P.S. Did you know that THAV GROSS offers free consultations for business, financial, and tax problems? Call us anytime – (248) 645 – 1700 or CLICK HERE to send us a message.