AN, yes, my friends are well protected with insurance, but their net worth has suffered due to some investments and other financial moves they, unfortunately, happened to make at the wrong time. They are doing OK–just not at the level they would prefer to be.
Although we’re involved in real estate, and other investments–we’re quite conservative–and are making every effort to keep what we have, long-term.
As far as exploring the possible options available in closing the “wealth gap,” I’m very much enjoying reading the in-depth analysis both you and CAr are providing. This is a big issue, and one that I believe will effect more and more people as time goes on.
Just from the varying responses each of you have posted, it is clear that there will be no easy answers.
