09 Jul 2017

Times are tough and wages are not growing fast enough to keep up with our expenses. The poor and middle class already spend more in proportion of their income on food, energy, transportation and health needs than higher income families. Things are not bad for everyone. According to an article published in Fortune Magazine, the number of Americans who meet the millionaire threshold is set to increase by an average of 1,700 every day. By 2020, it is projected there will be 3.1 million new members into the millionaire’s club. Are they working harder or are they much smarter than you? Not necessarily. Much of the wealth is focused among older generations whose offspring are about to inherit a fortune. Are you able to transfer wealth to your decedents? If you are, will they know how to use it to bring value to the community or are they likely to squander it all?
What can we do to build and sustain wealth? It is easy for someone to say, “Save your money”, or “Invest in the stock market”, or “Purchase a life insurance policy.”. This is not realistic for those of us living from paycheck to paycheck. Especially if all our money is going for food, day care, transportation and to pay for a roof over our heads.
There are ways for us to change our status and change the trajectory of our lives and the lives of our families. Three great ways to transfer wealth to our offspring are to vote, to get an education and to stay focused on your goal.
Voting cannot be stressed enough. Only 59% of eligible African American’s voters voted in 2016. As a result, we have a President obsessed on erasing the legacy of his predecessor. We must be sure to exercise our right to vote and then demand those in power to work for us not just for the rich. It is important for us to hold those in office accountable for the decisions they make.
Secondly, we should take advantage of the education system. Getting a good education is a way to gain new skills to advance in the work place. Believe me, receiving more knowledge will change your way of thinking. You will be able to see opportunities where others can’t and you will bring more value to your life and the lives of your family.
Finally, please stay focused. Stop wasting time glued to social media. It is past time to stop dealing with foolishness and to get busy doing the work we are destined to do. There is far too much happening all around us that is taking our attention away from what is important. I implore and challenge you to stay steadfast and focused on leaving a legacy for your family. We can all become millionaires but we must be willing to learn more and change our way of thinking.

If these things inspire you, and you want to share your ideas, please feel free to contact me thomsustainableconsulting@gmail.com. Or you can follow me on Twitter @tcsheff. You can also check out my web site: thomsustainableconsulting.com


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