Are Millions of Dollars on the Move & Where is the Middle Class G
Trillions of $$ On the Move
According to recent economic studies it is assumed that retirees are currently one of the wealthiest groups of Americans. This generation of seniors has experienced more personal wealth than any other generation. As they prepare to leave their money to loved ones it can be said that we are on the cusp of one of the largest wealth transfers in history.
This trillion dollar money transfer is subsequently putting wealth and more resources available to an estimated 76 million baby boomers. Economists estimate that as much as $40.6 trillion dollars will change hands.
Meanwhile we are being told that we are facing a shrinking middle class. Some want to interpret this to mean that soon we will only have the very rich and the very poor in our nation.
As Americans are constantly labeling groups of people, it is probably time to think about where you stand in all of this.
Does this Affect You?
This might be a good time to stop and assess in your own mind how these assertions affect you personally; because your perspective will make a big difference in your behavior and your response.
If the aforementioned information has you feeling frustrated and aggravated thinking that while the rich get richer, you will only get poorer - then think again. Perhaps another way to look at this is that more and more middle class Americans are moving up the ranking and that is why the middle class seems to be fading away. Dont be too quickly convinced that this wealth transfer and shrinking middle class is all loom and doom for you.
What is the Middle Class?
There really are no good contemporary parameters that describe or define the middle class. Opposed to twenty years ago it seems that even the lower class has more. Is middle class defined by the material possessions we have or is situated somewhere just below the poverty stricken members of society. Is middle class defined by a lifestyle?
What I am trying to do is get you to focus on your thinking. If you are using outside mediums to determine what middle class means to you than you will undoubtedly feel persecuted by rich and wealthy millionaires taking the whole kitty. Your thinking quite effectively dictates your behavior and your ability or inability to see yourself as one of the rich.
Is their Truth to the Shrinking Theory?
The fact is, the shrinkage theory not engraved in stone. It is hotly debated by economists who choose to measure the middle class in different terms, whether by changing the income brackets or by focusing on job categories. Some researchers actually see a smaller shrinkage or barely any at all. (We dont usually hear much about their views.)
When you consider the following your viewpoints on your own economic standing may change drastically.
In 1979 Middle Class was defined by an income bracket of $30,000-$100,000. Today fewer people in the America live within those figures than they did in 1979
The amount of persons earning more than $100,000 has risen from 12 to 24 percent during the same time period.
While that looks good for the middle class the same research suggests that households making less than $30k per year are remaining static.
Those facts alone lead to a thinking that the reason the middle class is declining is because more middle class people are making the forward to leap to upper class or wealthy standing
For married couples - median income inflation dollars have grown a whopping 25% since 1979.
Take a minute and think about what your knee jerk response to things is. When you hear news about a shrinking middle class do you immediately throw up your hands and figure there is no use in trying, or are you able to see through the hype and figure out the truths for yourself.
The wealth transfer and possible rise of the middle class to richer folks may mean that there is greater resource for all these people to invest in your product or service.
If you must believe that the middle class is shrinking, think of it has shrinking because they are moving on up which means more money in the pot for you to collect upon.
eBay Success Tips to Achieve PowerSeller Status - Must Read
PROPER RESEARCH IS AN ABSOLUTE MUST
Research requires due diligence on your part, spend time with research. You must know the average selling price on eBay of the product you have decided to sell. On the main search page, located to the right of the search button is an [Advanced Search] button. Next, open the Advanced Search link, enter a keyword(s) for your product.
What you do next is by selecting your related category, then the completed listings link, then search. You are now seeing on your monitor closed auctions for products you are considering selling. Green means a sold product. Red means an auction item that did not sell. Black means the product did not sell, and was originally listed as a Buy it Now listing. Forward this critical data to a spreadsheet such as Microsoft Excel.
DONT FORGET TO MIND YOUR SHIPPING
In order to take care of your customer, you must be sensitive to shipping fees. It was a common practice recently to have a low priced item, but overcharge for shipping. A way of hiding additional profit. Buyers have caught on to this, and are very selective to products when it comes to Free shipping vs. Overcharged Shipping. When I speak of Free shipping, even a reasonable shipping fee is acceptable.
As you perform your research, notice that many of the products that Sold, have either Free Shipping or Low cost shipping. Overall, Free shipping or reasonably priced shipping products will do better in the long run. Make sure to keep the majority of your shipping cost priced in your product, while maintaining your profit margin, and keep your price competitive.
If THERE IS A DEMAND FOR THE PRODUCT SELL IT — NO DEMAND, NO SUPPLY
There must be a demand for any product you wish to sell on eBay. Prior research is a must before any listing follows. If the demand and profit margin are not in line, you may have a shelf full of product that does not sell. Frozen capital will ruin, and severly hurt any business. Enough frozen capital and the business fails. If someone offers to sell you product “X” for $10.00 each, 100 count. You do your eBay research and find that in the last sixty days, only 1 sale was made of 50 offered on eBay, selling price $10.50. You will have a problem on your hands. 50 problems to be exact. Product “X” should not be purchased.
Many successful eBay PowerSeller recommend when starting out, is to have a Wholesaler Dropship products for you. Dropshipping is when you post a product, sell it, collect the money, then a Wholesaler ships the product for you. You do not have to stock any product and are not in danger of having obsolete inventory. When using a Wholesale Dropshipper make certain they are legitimate. I say this because many retailers, pose as wholesalers, giving a small discount from retail. You are only dealing with a middleman, not a true wholesaler, which is costing you profit. Google Wholesale Sources, or Dropship Wholesale, compare pricing and make certain you are truly dealing with a wholesaler.
Ways To Benefit From An Internet Business
The internet is the most exciting and extraordinary place with lots of ways to make money and have fun while you’re doing it. It has the potential to enable you to get rich or at least own you your own business online. There are several reasons behind the benefits of an internet business and there are several reasons behind having your own internet business.
For some it will be an opportunity to escape their nine-to-five job. You either like your job or you dont but you will have the opportunity to change your life if you are successful. For others there will be an opportunity to keep your nine-to-five job and make extra money on the side. Another reason of having your own internet business is because you can do it for fun and enjoyment.
Self-esteem is another reason behind starting an internet business. Many of us are so much busy in our busy life schedule that we literally forget to do something in our lives that reflects our inner selves. So starting your own business motivates you and boosts your feelings. Internet business could be made successful by using technology to run a business effectively and leveraging the different ways people are communicating online.
The benefits of having an internet business can be anything you want to do. You can turn your skills and interest with no money at all which is something that most part-time jobs will not be able to offer. Another benefit is it fits your schedule. The internet is a remarkable clearinghouse of information on every imagined topic of interest.
Another benefit is that internet business offers over most part-time jobs is that it’s easily available, easily accessible, and extremely flexible which makes it easy to work around your existing job and family commitments. You can really run your business anywhere and any time. It provides high level of flexibility with non-stop income. You can do it any time in your meal hours as well. Internet business can be a great and extra way to earn money.
Probably the most advantage of having an internet business is that you could get away from working 8 or more hours a day. No more being able to miss the experience of enjoying family activities. So starting a new internet business can be easy for you if you make plan before starting. If you are going to choose to become an entrepreneur, then you must have passion to do it. No matter how much the potential your business might have for making money, unless you believe in it, how can you expect anyone else to?
After examining your talent and skills, and ready to generate a business idea, write a business plan and choose a winning name for your business and register it. You are ready to go andn start an internet business.
Starting a business may seem overwhelming at first. There are just so many things to do! This article may well guide you to starting a business and it is designed to help you make your dream of starting a business a reality.
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