Jul 24

What Are the Chances You Will be Poor at Some Point in Your Life?

This blows my mind. A Washington Post report says that by age 60, 79% of Americans will have experienced economic hardship at some point in their lives, https://www.washingtonpost.com/blogs/wonkblog/wp/2015/07/24/the-remarkably-high-odds-youll-be-poor-at-some-point-in-your-life/?tid=sm_tw

This does not actually surprise me. Black swan events are far more likely than conventional models suggest wrote Nassim Nicholas Taleb in his 2010 book, The Black Swan, The Impact of the HIGHLY IMPROBABLE.

Look at how many professional athletes are broke within five years of ending their careers. They all have “friends”, hangers-on with “can’t miss” ideas. You know the ones that miss by miles, and take down millions with them.

It also wouldn’t surprise me if the 21% of Americans who apparently do not suffer economic hardship are mostly government sector workers with indexed pensions.

It’s why I am so focused on real estate investing to provide for myself and my family, and why I am coaching people to do the same, https://www.brucemfirestone.com/coaching/

@ profbruce @ quantum_entity

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About the Author

Bruce is an entrepreneur/real estate broker/developer/coach/urban guru/keynote speaker/Sens founder/novelist/columnist/peerless husband/dad.