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I think it is interesting to note that in the 70’s, where I grew up, materialism wasn’t as rampant as it is now. Yes, things were more affordable, but so were the expectations. More people knew how to live within their means and it was more acceptable to have a used car, a house with only one bathroom and the kids shared rooms… you got your siblings handed-down clothes and their bikes, and playing expensive sports was not a thing. Kids got paper routes and cut their neighbors lawns for money and did not get cars until they could buy one- and they had save up. The entire culture feeds the machine with wants coming before needs and “needing” to keep up with what is now “socially acceptable”. Costs are out of control, but so are people’s expectations and values. Living in debt is now “normal” so people can have the new car, 4 bed- 3 bath house, college education, new car, and yearly vacation. The kids “need” to play hockey, travel basketball, and do gymnastics/dance. And people “need” to have a tv in every room, smartphones, and to constantly be entertained. Going out is an expectation, not a luxury. These things are all related.
There is a lot of “misremembering “and fallacy about home ownership in the 70s for minimum wage owners. 😁
Materialism isn't a millionaire/billionaire problem. It's a cultural one. You can't say "the rest of Americans are continually held down" when we have pre-teens and teenagers making bank on TikTok and other social platforms. It's easier to become a millionaire today than ever before.
Minimum wage isn't supposed to be lifelong work. It's entry level. My Mom worked at McDonald's when I was a kid She was a good worker and moved her way up in the store until she became what was called a STAR (Store Activities Representative) and did public relations events for the franchisee (who owned multiple stores).
Don't complain about the minimum wage. Worry about people who believe they should make more money without adding more value to their employer.
Pro
More value??????????
Wow! No more needs to be said by you Keith. You have a twisted perspective on life
I think my wife would have issues if I tried #4. That “love” thing has been nice, but next time,……
Because they are wired differently. That is why they are ultra rich. It is amazing how even poor people will vote against their best interest while the top won't usually care at all. It's bizarre. Nothing wrong with a billionaire, but they should pay their fair share, and dare I say a bit more. They have so much money they can't even spend it all, and their families over eternity couldn't spend it all. Ask them to pay an extra tax? Oh no, they gotta move to Texas.
There are at. least 5 ways to have a successful financial life. None of which bring peace by themselves.
1. Invest $300/month at 7% interest over 40 years be worth about $750,000. Increase the amount invested gradually over 40 years or raise the return to 8% and watch the amount explode.
2. Education in a area of public need
3. According to a recent Forbes article the new millionaires are small construction business owners selling their business at ages of 35-40 years old.
Plumber
HVAC
Electrician
4.
The old fashion way
Marry money
5.
Inherit money
#1 works. I'm at year 28 of that plan.
And #2, hs math here.
Currently saving to buy heavy equipment, and in next part of life will do excavator work to pay for my toys and have a small business tax sinkhole. Kinda like 3.