Although America is the wealthiest country in the world, inside is poor.
Whether you earn an income that makes you a part of the elite top 1% or bottom 90%, you probably agree the U.S. has a lot of problems that havenât been resolved since itâs founding.
Clearly the tax laws work for those whoâve written them which exacerbates wealth inequality and social mobility further. While our former president got away with only paying a generous $75 dollars to the IRS, the middle and income class have to keep the country afloat giving away up to 37% of their earnings.
Due to the endless chaos from misinformation to fake news, politics and higher ed, practically everything, itâs easier to look at the dark side and paint a negative picture about the future.
Yet that wonât make the future a better place.
One of the best skills Iâve ever adopted and attempted to implement into everything I possibly can is to look at the glass half full. Keeping a positive mindset can be difficult yet rewarding if done enough.
Iâm not saying to be happy 24/7 because thatâs not realistic or strategic, but in general looking at the bright side of things will put more luck into your pockets.
Believe it or not, life is much easier when we are positive so why donât we stay that way?
It seems like more complex is better.
Just look at the healthcare system or financial industryâs exotic instruments through the process of securitization (turning debt-illiquid assets into tradable securities-2008 Crisis with mortgage backed securities) as examples. These industries are made to be opaque, confusing and expensive so they can take advantage of those who donât understand.
Thereâs always something to complain about but the main reason you end up doing so is because you arenât putting in the work yourself.
Once you take that first step, which is always the hardest, you stop complaining, consuming and start producing. You enjoy the journey more when you take that first leap of faith. And the best part is that motivation kicks in once you continue. You are in the zone, the flow state and cannot be bothered. Time flies and you donât enjoy every minute, but you know you are progressing towards a better future. This mindset can help you to the government back on track. Itâs not a competition, just a test to see what you are capable of.
Excuses are made when we donât do anything about something. Itâs easy to get comfortable but not worthwhile at the end. It creates massive regret. On the other hand, becoming comfortable with the uncomfortable will more likely always leave you better off. Even if you donât succeed or accomplish what you hoped for, you know that you tried and saw what you could do.
The Small Things
As a personal finance enthusiast, I find myself getting burnout quite a bit. Iâm always chasing some new advice on CNBC, what Cathie Wood says or questioning Jim Cramerâs stock picks. I stick with the basics of passive investing and strive to simplify the world of financial literacy and make it fun. Yet truth be told, this is hard and exhausting to do at times.
I need to take a step back and realize itâs all in my control. My job here is to turn an avoidable, complex field of study into an enjoyable one and keeping moderation in check. Continuous learning and digging for strategies can get overwhelming, leading to less learning overtime. We need to become better at doing nothing to learn more to increase our brain power and opportunity for luck.
Doing nothing is underrated and in fact the best way to grow. We can get overstimulated dampening our productivity. Over consuming is dangerous and not strategic in processing information. We are consuming more information per day than someone who lived in the 19th century consumed all their life.
And let me ask you this, who is happier?
I doubt us but we cannot forget how much luckier we are in the process.
Rich is an arbitrary term. No one wants to be known as ârichâ because we associate it with an evil archetype. A villain, theft, spoiled, one who inherited all their wealth and doesnât pay their fair share in taxes yet in reality, we are all rich in some sort of way and most millionaires and above did in fact work their way up the corporate latter while aggressively saving and investing, got in on a business opportunity at the right time and place, met strategic buddies or got lucky, something we all have somewhere and compounds the more action we take.
Rich is achieved by having what money cannot buy. Health, relationships and a healthy mind.
They cannot be repalced.
Did you know a person earning over $50k is already earning the top 1% income? To most, especially in America, this is unheard of and places one in the lowest tax bracket possible but in relative terms compared to the world, it is considered rich.
Itâs all in the mindset.
How you choose to look at the world determines your world.
Forgotten Luck
Firstly, we live in the 21st century and for those in America, a country that is transformed by immigrants and provides endless opportunities, there are no boundaries here. Of course there are if you want there to be, but in actuality, thereâs none. Theyâre all made up and weâve seen people we look up to break barriers and rise to where they want to go coming from nothing.
They didnât wait for luck, they took advantage of what they had inside of them and kept going, another underrated skill. Through unwavering dedication and commitment, eventually something will come your way just most arenât willing to wait that long and instead quit after the first podcast episode.
No matter how many times youâve failed, you can get back up and start again. Although hard to believe, the USA is a free state and a place where you can start any business online or buy a domain for your next personal finance blog and donât have to worry the communist regime will take it down the next day.
There will always be problems and theyâll mold into different shapes as the world and your income evolves. Thereâs no getting away from them yet what we can do is be more proactive about what we focus on which stems into the second blessing.
Education. Not even financial literacy, although a big bonus, is the greatest propellant towards economic prosperity, GDP growth and financial freedom and flexibility. One can only go so far without proper education.
Why?
Because you cannot build networks, support yourself, have a motive/ drive in life, take care of yourself or see what you are capable of without your ABCs.
And lastly, thereâs always someone here for support. This is the most diverse country in the world and if you want to connect with someone, you will find someone with similar interests.
Guaranteed.
Iâm not talking about social media or Bumble, look towards communities, neighborhoods or schools. We are more alike than different and what you are going through I guarantee you someone else is.
Financial freedom is more than being able to buy your dream mansion with gates, getting your kids into the college you went to or being able to take 2.5 vacations per year. Itâs about being appreciative of where youâve came from, what you can bring to the table and your massive potential. Everyone has potential most people just donât want to acknowledge it. We all can learn from each other and believe it or not, youâre sitting on a gold mine of opportunity.
It is all around you. Itâs just a matter of if youâre willing to notice it.
Having an open mind and perspective about the future and its possibilities are part of a strategic investorâs toolbox.