15 Signs Everyday Americans Are About To Break Financially

In 2024, tens of millions of Americans are going completely broke, and millions more are just barely scraping by, new data shows.
You've probably noticed that the value of our money isn't the same anymore. In fact, the dollar has lost 95% of its purchasing power since the 70s. But recently, that decline has become even more pronounced. Today, households don't have enough money coming in, but bills are piling up. That's why debt levels are rising astronomically while people's savings accounts are running dry, which is putting thousands of U.S. banks at increased risk of failure. When the U.S. consumer isn’t in a healthy financial shape, bad things tend to happen. And now, conditions are eerily similar to what we experienced during the run up to the Great Recession. With higher living expenses and tighter access to credit, families and individuals in the U.S. are being hit from all sides.

The following facts we compiled for you in this video are going to be an eye-opener about the current state of the U.S. economy and the challenges we are all facing. Without further ado, Here are 15 Signs That Everyday Americans Are About To Break Financially.

[ShaniRajak-iyjn]

You work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10k in a meme coin from just a few months ago and now they are mutimillionaires.

[oneillbilder]

I'll need help if I'm going to make it through this. The ETF and stock markets are still pretty volatile. What's left of my $170, 000 portfolio now isn't looking good; how can I capitalize on the market?

[Patriciacraig]

The average person has never been so poor. Millions of families are struggling financially as living expenses hit the highest levels in more than four decades. Over 60% of our country lives paycheck to paycheck and about 40% earns poverty wages. Even after working all their lives, more than a quarter of older people have no savings and many believe they will never be able to retire in dignity, while around 55% of elderly people try to survive on an income of less than 25, 000 a year.

[austinbar]

The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow the 100k I have saved seperately outside retirement access which of course had depleted over the years?

[Giandy]

Imagine going through all of this and your home just floats away…. (NC)

[wilmerhernandez]

Paying for the Ukraine and Israel war and a potential conflict with China will definitely accelerate this catastrophic economic situation.

[johnbalison]

Dude 2008 was like spring break..our country is done...DONE

[DrMatey]

I'm up in Yukon Territory. Milk is $9.25 a gallon, eggs $6.50 a dozen, bacon $12.50 a pound, bread $7-$10 a loaf and that's just breakfast! I live alone the home I built and I spend $360-$500 a week on groceries, believe me, I'm not dining on Sirloin Tri Tip or Lobster from Maine!

[TheDuke]

Unfortunately, many don't. The video mentioned 34% of Americans have no savings and 64% have less than $10, 000 in retirement savings

[marilynarchey]

We are in the Beginning of the most, Catastrophic Depression, IMAGINABLE. Please try to, Prepare and Pray for good. 🙏

[BestBuysReviewed]

80% Of American Households Are In A Worse Financial Position

[gregg]

YO EPIC!! You speak the language and point out the deepest core concerns of so many of us! No mumbo jumbo! We love you Sir!!

[frankannis]

The gov might lie to us but can't lie to God because he knows all.

[luckyguy]

Glad to watch your programs.
Nobody talks about this like you do.
Been a fan for quite awhile too.
Thank You.

[KYLE-rihj]

I plan to retire at 62 in another country outside the US that is free, safe and very cheap with a high quality of life. I could fully just rely on only my SS if I wanted to when that times arrives but I'll also have at least one pension, a 403 (b) and a very prolific Investment account with my Tracy Britt Cool Consulting my FA. Retiring comfortably in the US these days is almost impossible. I honestly don't understand why people don't move to another country when they get older in retirement. It seems everybody has excuses for almost anything to not take action to better their situation.

[verycautiouspersona]

This current market panic seems to be fueled by the upcoming Nov. elections and rumors of World War 3. I have a little over 250k that I intend to put in the markets but I don’t know if this is a good time when others are probably selling off.

[DKisOk]

I have lived my life without Vacations. For me home is my happy place and I don't need to get on a plane. My priorities have always been, Pay The Bills. I own my house free and clear. Property Taxes have gone up every year, but I make sure I save each month for that, plus...

[danielgant]

7-11, just opened a brand new store a few miles from me, I would guess a lot of the stores that are being closed are in areas where theft is out of control. They will never say that out loud, but I know it’s a huge problem for lots of stores. You can’t make money when the neighbors are stealing you blind.

[JulieRose-ucyr]

I love the narrator!! The videos by Epic Economist are my favorite!

[mikeywid]

Grocery shopping nowadays gives new meaning to the words "sticker shock".