Are You In Debt?

Did you know the average American owes $145,000? Yes, every one of us...

That's what it would take to pay for Social Security, Medicare and Medicaid, the trifecta of entitlement programs for the elderly and poor that balloons as people age. And that number doesn't take into consideration what you've actually accumulated in personal debts from credit cards, mortgages, cars and the like. Even worse, Americans save less than $1 of every $100 they earn, while spending almost $2 billion a day on gadgets, cars and imported clothes than the rest of the world.

If that's not a recipe for disaster, I can't imagine, outside possibly at category 4 hurricane, what it would be.

You'd think the younger generation would've seen through this fragile house of cards long ago, but their insatiable I-want-it-now! hunger for things -- and conveniently forgetting the consequences -- only mirrors the obesity epidemic.

A number of experts believe the financial calamity is avoidable, but it's going to be tough. One of the best things you can do to prevent those failing financial numbers from harming your family is to get healthy as quickly as you can. Here's my prescription for beating the statisticians:

Seattle Post-Intelligencer August 28, 2005

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