What Should You Do About the Economy?
I admit, this is click bait. You see, you clicked this because you thought I’d fester on some topic like Donald Trump, income inequality, how bad the economy is, and how hard it is to make it in America these days. I will talk about the economy, but not in the way you may have thought. You see, the economy is not some ambiguous boogie man that we are all at the mercy of. Economy at its root actually refers to the running of a household. If “the economy is bad” ultimately it means that your personal household has a money problem. It has nothing to do with who the president is, what the stock market did, or exterior conditions. I am going to break down the different personal economies that exist and what to do about it.
The quitter economy. This person does not do anything about their money situation. They have had so much financial hardship that they now agree with it. They’ve quit on money. And because of that, they have coin-phrases that make money wrong so that these individuals can make sense of why they’ve quit on it. You see, if money is wrong, than the individual can be right and it then makes sense to keep doing with they’re doing. Those who run the quitter economy need to take responsibility for their mess. No matter who, it was their cause. Even if something did happen to them, it was their cause. Why? Because if it wasn’t then they can’t do anything about it. The quitter economy needs to confront what they’ve created, get a pissed off about it, and start taking responsibility.
The blame economy. This economy is rife with those who blame others for their money problems. Often times, it is “they”. “They” are the people to blame because if it wasn’t for “them” taking all the money so that nobody has anything left, these people would be able to have an honest shot. That’s honestly their thought process. There is a group of people who are causing the individual to suck with money. It could be the top 1%, it could be politicians, it could be corporate greed, or it could be religious organizations. But it is always “their fault”. These people will typically angrily stand on their soapbox preaching their idealist remarks and antagonistic comments towards those who don’t suck with money. The school of blame economics needs to trace the problem back to its root. The truth is, most of the symptoms they are up in arms about are real and are happening. But riots, Facebook comment cowboys, and passive aggressive money shaming won’t fix it. The root is that people aren’t making enough money. When we know the root, the blamers can choose to go and solve the problem for reals.
The naïve economy. This is the bulk of middle class America. Mom and Dad both make $40-$60k per year, they have a $1700/mo house payment, life revolves around kids and “enjoying the moment”, and their house smells like caramel cinnamon scented candles and fake leather furniture. These people just don’t know what everyone’s fuss is. They’re in their own little world of Netflix binging, making appearances with their dolled up family at church each week, and planning for the week and the next holiday. These people are “nice”. They live their lives intentionally and work hard for the title of “nice”. Unfortunately, nice doesn’t pay the bills and solve for emergencies. This group always gets punished the worst during economic downturn. They are in denial and quite honestly, selfish. The naïve economy needs to look beyond themselves and their little glass universe and start thinking about the future and about the others they can help.
The spend economy. This economy is all about living life now. They can earn great income! And it shows with their glamorous house, the new boat, the RV, the ATV’s, the 2 German made vehicles, and the sweet Instagram posts. These people can earn income, but they live the motto of “you can’t take it while it’s with you’ and “spend it while you got it”. This economy could be so wealthy but because of this attitude, they squander their shot every time. The spend economy needs to realize that they are trading time for money. After all, they are chasing freedom. They feel free when they purchase things without considering the money. The problem is, they must go back and work for the paycheck to fund the next purchase. If they had assets to produce the income, then they could be even more free.
The top 1%. Now really, this is not the top 1% financially. My definition is more a mindset and set of behaviors that define what I call the top 1%. These people know that money is just a medium of exchange, backed by confidence, representing exchanges of value. Because of that, they do not have any emotional attachment to money. They are focused on building long term wealth and committed to the habits that will cause this. These people must reinforce what they are doing. Trim the fat, hunker down, and keep pushing. It will pay off big.
You’re in one of these groups. You need to be in the last group. The problem is that most of us either don’t know what the top 1% are doing or we have heard it and didn’t realize or don’t believe it. I teach my clients the practices of the top 1% when it comes to making money, keeping it, and multiplying it. The result is that wealth is created. When wealth is created, so is freedom. If you’d like to get your hands on the right data to truly build wealth, watch my free 60 minute webinar on how to become a millionaire. Click here.
Own Your Potential,
Jerry Fetta helps his clients make money, keep it, and multiply it.
He believes everyone should own their potential. He believes you were not created to spend 40+ hours per week serving the 40-year-to-life sentence trading your precious time for money just to live in mediocrity.
However, the truth is that time and money must be exchanged. It just doesn’t need to be you making the exchange.
Jerry helps his clients create wealth that exchanges time and money on their behalf.
His clients see a 30% increase in income, a guaranteed increase in savings rate, and 8–12% fixed annual returns on their assets in the 1st 90 days of working with him.
To get started, go to www.WealthDynamX.com/potential