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A recent article in the Wall Street Journal entitled ‘Americans Are Richer Than Ever, But They Don’t Feel That Way‘ by Steven Russolillo highlights the glaring disparity yet again between Wall Street and Main Street.

 

 

 

 

IS IT GOOD OR BAD?

 

Don’t get me wrong, positive economic news such as these are fun to hear and might even make us feel good, but the reality is that main street America is severely disconnected from the boardrooms of big business.

 

As the article suggests “U.S. household net worth is expected to hit another record, but that won’t mean much to most people”.

 

It further goes on to say that the current appreciation in house values and stock price only apply to those who own homes and stock, which majority of Americans like me don’t have and are unable to afford since most are buried in debt.

 

Another interesting observation the author provides is that although the rise in equity values reflect a positive tone in the general economy, it does not automatically translate to a rise in buying power for ordinary citizens. This is because wages remained depressed and unable to cope with rising inflation.

 

IMHO

 

I guess my biggest takeaway from this story is that I shouldn’t rely on whether or not stock and home prices rise or not.

 

I feel it’s irrelevant to my individual circumstance, I already know it doesn’t apply to me 🙁

 

But if I continue working, tweaking my household budget, persevering to dig out of my mountainous debt, and continuing to push through the journey; one day I will arrive at financial freedom, be able to eventually own property and build wealth to later on transfer to my family.

 

Be encouraged everyone, nothing like an article like this to keep our eye on the prize.

 

Peace and Blessings to you All.