Vibe Check

^{Weekly Trivia}

Data Source: Federal Reserve 2022 Survey Of Consumer Finances

^Introduction

Through the Habits journey, I’ve met 1500+ financial advisors and hundreds of young families. Both of which feel an immense sense of falling behind.

It happens to me too and it’s the inspiration behind this blog post.

Did You Know?

If you are feeling left behind financially, let me spit some facts at you.

Nervous About Retirement?

• Over 20% of Americans 50 and up have no retirement savings.

• 61% of Americans 50 and up are worried they won’t have enough money for retirement.

• Only 21 percent of people have a retirement plan.

Got Debt?

• Over 50% of U.S. college graduates have student debt.

• Over 49% of U.S. families carry credit card debt, with an average balance of $6295.

• The average American owes over $100,000 in debt across student loans, mortgages, credit cards, etc.

Need A Rainy Day Fund?

• Nearly 60% of Americans have less than $1,000 in savings.

• 78% of Americans and 33% of high earners ($250k+/yr) are living paycheck to paycheck.

• Only 15.3% of American households make over $100k.

Behind Your Friends?

• The median age for marriage is now 30.

• The average age of a first time home buyer is 35.

• On average, childcare costs $216 per week, which breaks down to 17.1% of median household income.

What This Means For You

You’re probably doing better than you realize or managing better than you think.

It’s important to not let FOMO drive your decision making.

My Key Takeaway

I’ve met thousands of young families through Habits. An overwhelming majority of them refer our platform as the “go-to” marketplace to find and compare our vetted list of financial advisors.

Thanks for reading, Habits fam. See you back here next week for more.

-JB

Got feedback? Hit reply and tell me what you think…I’m always looking to level up.