Recently an article was published in the Parade Magazine titled “Is The American Dream Still Possible?”   In the article they did a survey of middle-income Americans about their financial outlooks and here are the results*:

More than 52% of middle-class Americans think they’re better off than their parents were, but 56% think things will be worse for their own children or for future generations.

Nearly 57% say they believe that the middle class in American is decreasing.

51% of employed members of the middle class have experienced either increased health-care costs or a cut in health benefits, and 39% have experienced cuts in overtime, raises or bonuses.

66% say they tend to live from paycheck to paycheck.

47% say that no matter how hard they work, they cannot get ahead.

Nearly 83% say that there is not much money left to save after they have paid their bills.

89% of the respondents believe that businesses have a social responsibility to their employees and to the community but, 81% believe that American businesses make decisions based on what is best for their shareholders and investors – not what is best for their employees.

74% of the middle class say they take responsibility for their own financial success or failure. 

80% say they believe it is still possible to achieve the American Dream. 

A  home based business is for those of you who believe that it is still possible to achieve the American Dream.  Where else can you start a business with very little start up costs, low overhead, work at your own pace and still have the potential to earn additional income?

Some of the points for consideration with a home based business are:

1. Help eliminate debt. On average, Americans carry $5,800 in credit card debt from month to month. 1 in every 53 households in America files bankruptcy. Of those, 80% could have avoided it with an additional $200-$300 per month.

2. Spend more time with your family. 49% of people regularly work more than 40 hours per week.  In time, a home based business can help you own your life will allow you to be your own boss and set your own schedule.

3. Add to your retirement savings. On average, Americans can expect to receive just 37% of the annual retirement income they will need to retire comfortably. The average Social Security benefit in 2004 was $954.90 per month. Will this be enough for you?

4. Take a longer vacation. The average number of employee vacation days in the U.S. is only 13 per year.

5. Help save for a rainy day. The savings rate in America has been declining for 10 years, and now has dropped to the same levels seen during the Great Depression. In June of 2005, the savings rate fell to 0.02 percent.

6. Pay off your mortgage quicker. Only 2% of homes in America are paid for.

7. Be a stay-at-home mom or allow your spouse to stay at home. In a typical week during the winter of 2002, 11.6 million (63%) of the 18.5 million children under 5 years of age were in some type of regular child care arrangement. A little over half (53%) of grade school-aged children were in a child care arrangement on a regular basis.

8. Earn additional money to help you buy the car or home of your dreams. Anyone can tell you about the car or home of their dreams. A XanGotm home-based business can help turn your dreams into your reality.

What should you look for in a home based business?

What kind of support will I have to help me get started?  We work with you to help you get your business up and running.  This is a win/win business.  As Zig Zigler says “If you help enough people get what they want, you get what you want.”  This is our philosophy and we are here with you every step of the way. 

What is the initial cost of startup?  Can I reasonably expect to recoup my startup costs in a short period of time?  What is the monthly overhead?  Your tax savings will be between $200 - $400/month.  You should keep your overhead under that amount until you have established your business.  We can help you with this.    

Is it a product or service that I am passionate about?  You don’t need another JOB, make it fun.   This is a question only you will be able to answer. 

*PARADE commissioned Mark Clements Research Inc. to administer the “Middle Class Study” in October 2005.  It was conducted amount a U.S. national online panel.  The results are based on a sample of 2,203 adults aged 18 or over.  Results are accurate within 2% at the 95% level of confidence.