The Wealth Gap And Your Financial Future – It’s Worse Than You Think (And What You Can Do)
The wealth gap is way out of control. As a matter of fact, it is probably way worse than you think. Is it any wonder why most people are struggling to achieve a secure financial future?
Now look, don’t get me wrong. I believe there will always be a wealth gap.
Even if everyone started out at the exact same spot I think over time some people would rise to the top, some end up in the middle and some be on the bottom… that is just how human nature works.
But in order for the wealth gap between the top and the bottom to get so large, there has to be something more going on. This kind of inequality just doesn’t happen by accident.
I don’t want to get into politics here or my thoughts on neo-liberal economics. I think we can all agree a wealth gap exists. And I also think it is so big that it makes you wonder… What is going on here?
In this blog post I want to show you how the wealth gap is probably a lot worse than you think. Then I’m going to show you how the wealth gap actually hinders you from achieving the level of financial security you desire.
But more importantly, I’m going to show you what you can do about it. Or at least what I am doing about it… and you can decide for yourself if you want to follow my lead.
The Wealth Gap In America
I found this interesting video on YouTube.
In the video, they take a look 3 different ways of looking at the wealth gap:
- What Americans THINK The Distribution Of Wealth Is
- What They Think The IDEAL Distribution Should Be
- What The ACTUAL Distribution Is
Take a look at the video…
First off, I know this is about America. But I think it is a pretty good indication of what is going on world-wide. Some countries are going to have an even wider gap, and some less of a gap.
But I am confident that the wealth gap is going to be huge, no matter where you live.
Like I said in the beginning, there will always be a wealth gap. And this was represented by what people think the IDEAL wealth gap should be. Of course there will be a gap, but how big should that gap be is the question.
But did you notice the actual wealth distribution was way worse than what most people thought it was. And forget about being close to the ideal. I think it is safe to say the wealth gap is way worse than most people think it is… and they already thought it was bad.
And keep in mind, this video was done 8 years ago. The wealth gap is probably EVEN WORSE now.
The Game Is Rigged
So, we’ve established that the wealth gap is a lot worse than what people think it is, and nowhere close to what people think would be ideal.
If you are on the lower end of the scale, it is next to impossible to accumulate any wealth at all. You simply don’t have a lot of money left over when you are below the poverty line.
But even for the “middle class”, accumulating any type of meaningful wealth is a struggle because almost everything goes for survival. There is no money left over for investing.
So, I think it is fair to say the adage of “work harder and save more” is just not a viable path to financial security due to how wealth is distributed.
I know people easily buy into the talking points that those without enough wealth are lazy, don’t budget properly, drink too expensive coffee, don’t sacrifice enough and on and on.
But now that you see how wealth is REALLY distributed, don’t you also see how much more difficult it is for 90% of the people to accumulate wealth compared to the top 10%?
The wealth game is rigged. And there is not much you can do about it.
Why Traditional Investing Won’t Work
If you look into personal finance at all, you’ll notice the most common advice for a secure financial future is something like this:
Start investing in your 20’s, contribute to your investments regularly, get 6%-8% returns and do this for 40-50 years.
If you do everything just right, you might be able to retire without worrying about running out of money.
Well, that sounds easy, right?
First of all, this is a tall order requiring the level of commitment, discipline and patience of a Tibetan Monk.
But even if this level of self awareness and control were possible, the wealth distribution makes achieving financial security almost impossible for the vast majority of people. For most people there is just not enough money left over to invest.
And I think it is even harder for someone in their 20’s or 30’s.
The truth is, the common investing advice you hear over and over again won’t work for most people because by the time they do start investing (if at all), they cannot accumulate the wealth they need in the time they have.
Lacking a time machine, the typical investment opportunities are just not going to accumulate wealth fast enough.
What You Can Do For A
More Secure Financial Future
I don’t believe “working harder and saving more” is going to work for most people. There are only so many hours in a day and so much you can save while still having a life. So, saving alone is not going to get you there.
You need to invest by putting your money to work to make more money. You just have to invest if you want to accumulate any wealth at all.
But I also believe that if you are getting a late start investing, the typical investment opportunities out there are not going to get you very far. Yes, it will be better than nothing. But you won’t end up as financially secure as you want and need.
So, what can you do?
The only solution is to get a higher rate of return on your investments. This allows you to make up for lost time and accumulate the wealth you need in the time you have.
So, how do you get an above average return on your investment?
Through simple Forex trading I regularly beat other investment opportunities. Forex trading allows me to accumulate wealth faster and create multiple income streams. As a result, I am on the path to accumulate the wealth I need in the time I have.
My average yearly returns can be HUNDREDS of percent. Way more than the recommended 6%-8% returns.
By the way, my favorite event in my Forex trading which I call “Running The Gauntlet” just happened. You can read about it here: Winning GBPJPY Trades Hit 300, 500 and 1000 Pip Targets To “Run The Gauntlet” For The First Time In 2021 And Catapult Accounts To New Profit Levels
Furthermore, trading Bitcoin and Ethereum have allowed me to tap into the high profit potential of the Cryptocurrency market. As a matter of fact, the profit potential is even higher than what I am doing with regular Forex (and that is saying something).
Again, the potential for HUNDREDS of percent returns compared to just 6%-8%.
Don’t worry if Cryptocurrency is new to you, it is a lot easier to get involved (and profit) than you think. Check out this post: How To Get Into Cryptocurrency Like A Seasoned Pro And Tap Into Extraordinary Profits As Simply As Possible Without Fear, Doubt And Confusion
Let’s wrap this up…
The wealth gap is a lot worse than you probably thought. As a result, the path to financial security is even harder. Unless you are in the top 10%, the odds are definitely stacked against you.
So, what are you going to do about it?
To Your Wealth,
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