Here’s Why The Middle Class Hardly Builds Financial Empire
The problem is not working 8+ hours a day for someone else.
There are many other negative influencers. They retard prosperity.
These are just examples:
- Large houses/apartments
- Consumer debt
- New or overpriced cars (SUVs).
- RVs (Recreational Vehicle), boats, caravans. Apartment (that is not rented)
- Expensive hobbies like golf or horseback riding
- Electronics. Various TVs, PCs, laptops, tablets, cell phones, and their associated subscriptions
- Having pets like dogs and treating them like spoiled children
- Gym clubs
You can go broke fast
The conditions for building wealth are not so bad. We have low unemployment. We have rising wages. Our capitalist system supports productive capital (stocks, private companies, investment properties). The rich and the entrepreneurs have understood this.
They use the system to their advantage. They invest their money. You accumulate passive income. You earn money while you sleep. In the true sense of the word.
The 9 to 5 employees rarely use it. They avoid the stock market. They are afraid of stocks and business ideas.
Healthy food costs money. I would not save on this. Similarly, too little exercise leads to health problems as we age.
Parents do not teach their children to save or spend money. When the offspring grow up, they have no idea what to do. Relatives say that money is not discussed.
They say it is rude to ask about salaries and expenses. These conversations can be eye-opening.
Society wants you to do something stupid with your money. Say no
Fast fashion and other single-use consumer products are also responsible for wasting money and polluting the environment.
I understand that some people may not get it, but for the middle class, it’s better to buy things made to last and have timeless style.
Some of my clothes are second-hand. My winter jacket is about 5 years old and still warm. Very warm. I like to wear them. I don’t mind it. Even though my girlfriend insists that I should change. On the contrary. I pride myself on not having the psychological syndrome of constantly having to buy new things.
If you open your eyes, you can learn a lot. Many small changes in your life can make a big difference. Get the snowball rolling.
Stop impulse buying. Buy wisely. Join a minimalist mindset. Accumulating stuff doesn’t make you permanently happier. It just fills up houses and causes more headaches.
I like to shop for groceries at discount stores and farmer’s markets.
The path to wealth is easy when you understand the principles: just let the ETF savings plan work. Stubbornly and steadily buy shares of stocks every month.
I agree that in a consumer society it is hard to find like-minded people who are encouraged. You are more likely to be instigated by your environment to consume.
Building a financial empire can be like a stone in the shoe
Especially if you have ambitious goals.
It’s like climbing a mountain. It is extremely emotionally draining. Many people will try to defeat you. They want you to consume like them: house, cars, fashion, vacations, furniture…
Stick to your style. Climb the mountain. Don’t give up. Stick to your goals. There are setbacks. Of course. Keep going.
It is certainly heartbreaking at times. Once you are at the top, it is liberating. It’s freedom! So stay strong.
Get rid of anyone who tries to stop you from reaching your goals. you don’t need them. Just leave it to the left. Envy can play a role or a lack of ambition in others.
Focus on your line. On your path. To begin with, it is important to stop talking and just get started.
The reason we are all so stressed is that we never evolved to live in modern society.
Say no to social pressure
We never evolved to sit down at work to run from meeting to meeting. Or sitting in front of a computer 16 hours a day. Or more.
We spend our nights thinking about things we need to do the next day. We lack sleep, which has terrible consequences. We miss the sport. The calm. Nature.
Although we are much better off now than we were in previous decades, studies show that we are getting more and more stressed.
It doesn’t take studies or science to prove that we have a better quality of life when we live close to nature (forests, parks).
We live longer in the countryside. Going offline most of the time is good for us. Limit information overload, have friends and family, and do things outside. Instead of constantly surfing the internet and watching TV, exercise, meet friends, walk, bike, etc.
We are better off in terms of health, medicine, money, safety, transportation, accident prevention, etc. But we would probably be happier if we were still hunter-gatherers.
We would be happier in social groups. If we were out in nature all day, we would be fine: gardening, picking fruit, eating together, singing, dancing, and telling stories. making fire. Being together. That is what we are best at.
We feel safe in small groups. We feel connected. We lose that in modern society. Instagram, Apps, Tik Tok, YouTube, and Facebook rule the day. We no longer have strong bonds. It’s easy these days to feel useless. loneliness increases. We have fewer friends.
Fears increase. The fear of not being accepted. We want to be recognized.
That’s why so many people blindly follow advertising, believing that if they buy XYZ products, they will be recognized by those around them. It is advertising stupidity.
There is also the fear of social decline. People are afraid of the stock market crash. Or currency crash. The best advice I can give to prepare for the next recession: save, pay off debts, and have a nest egg. Concentrate on your work. Do your best. Educate yourself.
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This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any major financial decisions.