I picked up the October 17, 2016 issue of USA TODAY on my trip last week to Cape May, NJ. Not to rub it in but I was on another short vacation get away paid for by the tenants in the buildings I own. There was an interesting story in this issue that spoke to the warnings we have been giving clients for years about taking responsibility for your own financial future.
"IGNORING YOUR PASSION IS SLOW SUICIDE.
NEVER IGNORE WHAT YOUR HEART PUMPS FOR."
Whenever I hear or read talk of a bubble, I start looking around at values in other places in the world. One of my favorite places to look for this is in the Friday Wall Street Journal. If you think prices are high where you are, just get that paper and you'll see. New York City always stands-out for their extreme property values, for example.
The Department of Commerce defines the middle class as a family of 4 making between $50,000 and $120,000 a year. I’m sure that in higher cost of living areas those numbers are higher. In her story in the July 2014 issue of Kiplinger’s Personal Finance, Jane Bennett Clark paints a grim picture for those in that group.