I’ve known for some time that savings rates were down in the US.  People are saving less and less, and to make matters worse, they were buying things on credit as well.  But I never thought it would get this bad.

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I just saw an episode of Flip This House, (not to be confused with Flip That House) and it really sparked my interest in real estate.  Of course, anything that shows people making a half million dollars in a matter of days sparks my interest.

However, I’m worried that there were problems with the show that made the whole concept of flipping seem too good to be true.  I’m also worried that Flip This House and its similarly named competitor made the whole thing tough to get into.

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With the first grey hairs appearing on my head, I’m forced to think about the future of my career - perhaps 10 years sooner than I really should.  I’ve been the sad witness of 50-somethings (and perhaps one 40-something) who have lost their jobs and have had a very hard time regaining employment.  The hard thing is that they are mostly talented bright people who could contribute to any organization.

Strangely enough, what sparked my interest in this situation is a 50-something who still has a job, but is afraid to put his college graduation date on his resume.  His theory is that his resume will be tossed aside once the math is done and a guestimate of his age is made.  That’s right he fears the ugly idea of age discrimination.

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Yesterday’s post went over the various predictions people had for 2006, and where they thought you should (or shouldn’t) put your money.  After my head stopped spinning, I wondered what my financial goals for 2006 were.

It’s halfway through January - perhaps a bit late to make resolutions - but I thought I’d state my financial goals anyway.  From what I’ve read, those who manage to accumulate wealth do so by setting goals.  Anyway, here it goes…

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With the start of the new year, comes everybody’s (or at least every magazine’s) preview of the new year.  Finance magazines aren’t any different.  They all have their own Mutual Fund Guide, How to Make Money guide or, for those of us who are broke, a Best Places to Work guide.

But while looking through the pages of hot money making tips, I became completely confused.

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Part of the American Dream once included working for a company for 25-40 years and getting a decent pension that would let you live out your retirement years in peace.  I recall seeing that dream erode in the 1980s, and now it looks like pensions are near collapse.

Shouldn’t companies have put away enough money for the future?  Were finance executives out playing the ponies with pension funds?  Why has this part of the American dream become a nightmare?

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I’ve read a few–ok more than a few–books on finance, money and business lately, and I can see common themes running through them.  There is, of course, the mantra of “pay yourself first,” which was apparently first chanted in The Richest Man in Babylon.  Others have worked variations on that theme.  For example, David Bach not only wants you to pay yourself first, but but he wants you to do it automatically.  Dave Ramsey still wants you to get paid, but moves you to second place, right behind God.

While mulling over these rules, I’ve started a list of my own.  It’s something I plan to keep growing and editing over time, but here’s the first:

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I last wrote predicting that personal bankrtupcies would drop dramatically in 2006.  Now an article in MSN Money makes me think I might be wrong.  The dramatic dip in bankrtupcy filings after October 17th, 2005 has reportedly picked back up.  If the trend continues–and it isn’t like the entire nation collectively cut up their credit cards–it will mean that 2006 will be business as usual for bankruptcy attorneys and a boon for credit counselors.

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CNN Money reports that personal bankruptcies are on the rise.  That may just be a yearly trend, because based on weekly data, the filings dropped dramatically after the magical date of October 17th, 2005.

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Heres a CNN Money article about a young couple’s journey to riches.  Hopefully that’s the path I’m on now.  But before I start, I need to find out where I’m at.  I think I’m going to need a sedative, because this is going to hurt…

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