4 Wake Up Calls From Your Uncle G
- 34% of all Americans born in the middle class will fall into poverty as an adult.
- 62% of all American’s have no emergency funds.
- The average American savings account balance is $3800
- 82% of the population is concerned they wont have enough money for retirement.
34% of all Americans born in the middle class will fall into poverty as an adult.
Do you know anyone who is in this situation right now? How did that happen? COVID fallout could definitely be the thing that pushed them over into the poverty line. But was there anything else? What else was happening (or not happening) that positioned 34% of Americans to fall into poverty?
62% of all American’s have no emergency funds.
Is this you? How would you feel knowing you have one year of living expenses in a secured account somewhere? How long would you need to set that kind of money aside? More importantly, what would you need to get rid of in order to have that nest egg?
The average American savings account balance is $3800
What does 3800 get you right now? Once you have an acceptable level for emergency funds, then what? If you’ve been following Grant for any amount of time, you will have heard him say more than once, save to invest. Does your money pay you?
82% of the population is concerned they wont have enough money for retirement.
How much is enough? What is your target? What would be even better? If it turned out that cash actually isn’t king, what would the alternative be? Cash Flow? I mean shouldn’t the real goal here be to work hard for your money so eventually your money can work hard for you?
What to do with this information?
First thing needing to happen right now if you need to make a few decisions. The first is to not let this be you. So if you’re at risk of falling into poverty or have fallen below the line, it’s time to make the decision to get out of the middle class and insulate yourself.
Second is to commit to saving in order to invest. How are those emergency funds by the way?
Third and most importantly, increase income. You need to make more money. Period. None of this happens while you’re making what you’re making. How you do that will ultimately be up to you but one thing’s for certain, you’ll have to know how to prospect, market, sell, close and follow up.
You’ll need to increase your skills if you are going to increase your income. If you’re not making enough with what you have now, what other choice to you have outside of improve, learn, grow and get better?
Two things to do now
- Get a copy of Grant’s Millionaire Booklet.
- Get on Cardone U
Now get to work! These two resources will immediately begin to protect you from BROKE.