Better Life Index, just released by the Organization for Economic Co-operation and Development (OECD).
Americans’ household wealth is about $102,000 on average, significantly higher than those in many other developed countries. Income inequality is high, however, with the top 20 percent of the population earning nearly $82,000 a year while the bottom 20 percent get by on just $10,600.
American workers put in long hours and take fewer vacations and less personal time, according to the Better Life Index. On average, American workers spend 1,778 hours a year in the office, higher than the average, and devote less time to socializing with friends and family than workers in many other countries.
The United States scores high on housing, which measures both housing costs and housing conditions. According to the index, U.S. households spend 20 percent of their cash flow on housing, slightly lower than average.
The U.S. ranks relatively well when it comes to overall life satisfaction and happiness. More than three quarters of Americans reported having more positive experiences in an average day than negatives ones, significantly higher than the 72 percent average across the countries the OECD tracks.
The OECD ranked the United States No. 1 in terms of household wealth and 12th in life satisfaction out of 36 countries tracked.
Sure, we should never spend more than we earn. And we should always try to save a little something. But sometimes we need a helping hand from our friends and family to meet financial challenges. People want to help. Giving to someone in need takes some finesse. Only friends, family and neighbors who care, are compassionate
Continue reading Food Stamps – Our Ticket to Prosperity? – “Never spend more than you earn” and “always try and save a little something.”
Technology is affecting our job market, our incomes and prosperity.
We haven’t done a good job adapting to technology as a society, as measured by unemployment and wage levels. We need agility in our workforce. Our institutions of education could help us. They can teach us to be more adaptable and provide us with tactical training,
Continue reading An Agile Workforce: Education Should Help People Adapt to Technology Careers
Households and businesses have been reducing debt for a couple of years. But the debt has simply morphed into government debt. But in Europe and the U.S. we’re getting close to debt reduction time, or what’s being referred to as the “fiscal cliff”.
Soon we will be deliberating the possibility of experiencing debt deflation. Austerity is
Continue reading Debt Deleveraging – is Debt Deflation Coming?
The unemployment rate is dropping, but not fast enough for many. Jobs affect household spending and are needed to pay down household debt. Jobs affect the well-being of families and their ability to achieve goals.
So how do we address the unemployment issue? Unemployment can be cyclical (as the economy improves, employment goes up) or structural.
Caroline
Continue reading Our Unemployment Rate – Do We Have a Structural Jobs Problem?
The perception that women are scarce leads men to become impulsive, save less, and increase borrowing. Research shows us that women have expectations of how men should spend their money when courting. Their expectations increase as the ratio of men to women goes down.
Some of our behaviors, including saving and spending, are much more reflexive and
Continue reading Men Spend More and Save Less to Find a Mate
Research shows us that one of the most important causal factors associated with happiness and well-being is your meaningful connections with other human beings.
And it may not be all psychological – it may be biological. Oxytocin has been described as the hormone of love. This tiny chemical, released from the hypothalamus region of the brain, gives
Continue reading Relationships are a Causal Factor for Happiness and Well-Being
Income inequality is largely explained by education equality – high school dropouts vs. college grads.
But growing income inequality is explaining the growing debt inequality.
The top 5% saw their share of total income rise to 34% in 2007, up from 22% in 1983. This excludes capital gains, which pump up the income of the rich even
Continue reading Income Inequality Affecting Debt Inequality
What are the financial predictors of happiness? We could look at metrics related to debt, spending, hours worked, percent of income saved, travel industry sales…so many to pick from.
Steven Kaplan, a professor of entrepreneurship and finance at the University of Chicago Booth School of Business, believes unemployment rates are better than income inequality in predicting
Continue reading Unemployment Correlated With Happiness – Steven Kaplan: Implications for Education and Personal Growth
When we invest, why are the markets so volatile? How come a person trying to save for retirement has to see their investment holdings bounce around so much when the information we have about the economy seems so stable. How can stocks, commodities and even bonds change value so much from day to day?
Jeremy
Continue reading Market Volatility and Financial Risk influenced by Career Risk
