The Real Secret to Increasing Your Income
While doing some research a few days prior to writing this, I stumbled across a very major discovery in the field of finances.
It has already been known that to build financial wealth, one must have enough invested at a given rate of return with minimal risk. And to have this money invested that way, a person needs to save/accumulate enough money and allocate it to the correct investments. And to save the amount of money one needs, they must first earn it.
But most Americans fail the worst on this exact part. 8/10 Americans live paycheck to paycheck, which means they aren’t earning enough to save the amounts needed to invest to build wealth.
I’ve covered things such as understanding wealth, financial literacy, and even goal setting, which are all very important.
But my most recent discovery on this is that someone who is not earning enough income does not have a money problem. They have a people problem.
Contrary to popular belief, money is not created by “the government” or “the economy” or some ambiguous mega corporations that run the show. Money is created when two individuals or groups exchange value with each other.
This means that people create money.
And if someone isn’t earning enough income to build wealth, they are a person who is not creating money.
Likely because they don’t know how to. Just as likely that they are blaming it on someone or something other than themselves. And…