The chart below represents areas in the modern individual’s financial life that must be addressed in order to maximize wealth, income earnings and net worth. Back’Em helps individuals manage these areas and become wealthier by connecting people with trusted companies that offer a valuable service in these areas.
The columns in the table below indicate:
Pillar represents financial area.
Current Economic Data describes the state of the pillar from a 2017 United States macroeconomic point of view.
Strategy represents general ideas on how to maximize wealth and net worth through the pillar.
Back’ed Company lists the company that Back’Em partnered with and supports as a way for individuals to survive and thrive in today’s economy, in this pillar.
Current Economic Data
|Student Loans||44 million people averaging $37,172 in student debt in the US, $1.3 trillion total. With interest added during the loan repayment, average debt is at least $45,000.||Debt repayment strategies, income allocation optimization||TBD|
|Earnings||The unemployment rate reported by Bureau of Labor Statistics has been slightly above 4.0% since the end of 2015. Real wage growth for workers around the globe has been low for a number of years (accounting for inflation.) The labor force participation rate is historically low. However, a goal of Back’Em is to maximize earnings and stable wealth.||Career coaching, business philosophy, professional development, and learning skills||TBD|
|Investments||We offer current market data on stocks, bonds and main financial assets. As we stand here in 2017, most major stock indexes are at all time highs.||Cost-effectivie, profitable investments with margin of safety||TBD|
|Savings||Savings make up the backbone of an individual’s financial well being. It is important for your savings to maintain purchasing power, keeping up with rising prices in the economy. However, since 2008, the base interest rate of the United States and countless economies are set at almost 0%. For the individual saver, major banks will provide a .5% interest rate for money in a saving account. This is ridiculous because banks utilize your savings for investments and receive much higher rates of return.||Store of value, liquid assets, protected, safe from financial distress, high interest rate||TBD|
|Housing||The number of millennials living with their parents has increased nearly 15% from 2006 to 2013. There is more mortgage debt in the US than any other form of debt. Student loans, automobile and credit card debts are the next largest forms of debt. Housing and rent prices are incredibly expensive most people would agree and historicalhousing price charts agree.||PropTech – new technologies and startups solving real estate inefficiencies and savign individuals money||TBD|
|Insurance||Individual insurance and healthcare costs continue to haunt many Americans of all ages.||InsurTech – Insurtech refers to the use of technology innovations designed to squeeze out savings and efficiency from the current insurance industry model||TBD|