We live in a world opposites. This tutorial concerns the rich and the poor & middle class.

Some Rather Consistent Statistics

This is the world of the 5% and the other 95%.

Here are some alarming statistics. They are more or less consistent across the board...

95% of the folks that make up our population (on the average) are comprised of the middle classes, the poverty-stricken ...and those that are not even counted in the Dept of Labor statistics.

That leaves a 5% of folks that run the massive businesses and top investors. We know who many of these are, others we don't even know about. Some are open to educating us folks in the lower classes and some are totally untouchable.

This 5% controls all of 95% of all the wealth globally! The other 95% haggle over the remaining 5% that is left over!

It is no wonder many households in the middle classes are driving around in cars they can't have repaired and some can't even turn on their hot water heaters and air conditioners!

You will see how this ties in to the good/bad debt scenario. It is a major contributing factor on what makes lives the way they are and how folks believe.

More Disturbing Findings...

One day I was going through the membership at EZA. I found, that on average, about 95% of that entire membership has not written any more than 20 articles!

Only about 1% wrote more than 60 articles! I find it is really isn't hard to get into the 1% of this and just about any other article directory!

I find it about the same statistics for just about anything! Look at the New Year's Resolution thing!

How many folks work themselves up to starting whatever project or resolution to do something in life they need to be doing...only to reach that day and perhaps make half-hearted attempts?

By mid February, most folks have reverted back to their old habits and promptly given up on them!

About 5% of these folks actually follow through and own the improvements.

What about here at WA? Though the activity rate tends to be higher than the average, those that actually put forth the work is very small! I hate to step on toes, but this is unfortunately true. If you are reading this and are not active as you should be, I encourage you to do so.

Why the Statistics? This Isn't About Debt

Why I brought this up is because there are mindsets involved here. These are the producing ones and the consuming ones. They are the producers and the consumers. These are the two cities and their economies. Which City are YOU in?

One is very aware of "good" debt and the other is painfully aware of "bad" debt.



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akwb77 Premium
Excellent. The shame is many people will read this and understand it, but not change.
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WebMaestros Premium
I own a home improvent compay for 40+years. Some people in this business barely survive because their selling skills are horrible and some make over 50, 000 dollars per month.
I see the answer as very simple. Learn the skills here at WA--learn to sell (I don't care what any one says -to make big money you have to know how to sell) Don't be lazy go to work and learn your trade. Make a boat load of money and once the money starts coming in --do it again and again.
I know for a fact from my clients say that Kiosaki's realstate education doesn't work as it is sold in his books. "YOU NEED MONEY TO MAKE IT WORK" I service clients who own hundreds of homes and apartments and they laugh at the advice given.
Put all your efforts here make a ton of money and the rest will fall into place.
IT'S ABOUT REASONS AND RESULTS AND THE FIRTS ONE DOESN'T COUNT"
STAY FOCUSED!
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I purchased a course on selling and now going through it. I invested in it from my first commissions from WA. These courses are on sales copy, however, Kyle's courses on here are amazing!

You are right. The reason I'm not selling any more than I am is because of how I'm putting out my content. The latest developments on here are invaluable for learning these skills. ...especially the Boot Camp. The other more recent courses are awesome too!

I got the courses from Paul Meyers, an Internet pioneer. It is enjoyable seeing this from a different perspective, yet it's the same outcome. Staying focused and consistent are the keys. To keep up with these takes discipline, especially when trying to work a job doing hard labour all day. That does knock a person down and all that much more determination to keep up online. At least now I do have a consistent income, though it doesn't support me yet.
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Frouck Premium
Good article! And what a coincidence...I just finished "Cashflow Quadrant" by Robert Kiyosaki
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I've been through about five of his books. Some people are happy with the advanced education and others are not. The books are great primers on finance and how things on those levels are different than what most people do. The books are only meant to be eye-openers, and that they did for me!

Whether they are completely accurate or not isn't so much the value as they are exposing the fact that there are other ways to make a living rather than employment.
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tazimmer Premium
The system wouldn't let me comment directly on your comment.

I am involved with The Palm Beach Letter's Wealth Builder's Club and they have a program about infinite banking which was written about by R Nelson Nash. His book "Becoming Your Own Banker" is a great read on this. I've also read "Financial Independence in the 21st Century" by Dwayne and Suzanne Burnell.

It's based on Whole Life Insurance. I know, I know, Life Insurance?? That is why it is so amazing. You set up the policy to minimize the death benefit and maximize the savings benefit. As your money builds you loan it to yourself and pay yourself interest. Soon you have enough to invest in income properties, new businesses, or other things to build the account even higher. When you get to retirement you can continue to borrow from the policy to fund your life tax-free (it is a loan and the government doesn't yet tax loans). It's a total win-win way to live.

And it is a way to create generational wealth since you can set up accounts on your children, pass ownership to them when you are older, and teach them how to do it also so they can pass it to their children. Also you can set up policies on your grandchildren as soon as you have some.

I'm just getting things set up but this is one of the things I plan to write about.

Tim
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Hmmm! This is interesting. Thanks for the resources. I will see about getting my hands on these two books.

I believe I have heard of the second one you mentioned.
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I have located the book on life insurance and have read treatises on it. I will see if I can find this book in the library or get it through the Inter-library loan system.
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Found both books thru the Interlibrary loan system. Both requested.
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tazimmer Premium
I'm sure you will enjoy them. It's one of those things that is simple once you know about it. It does take discipline and it isn't instant. You will have to commit to make it work.
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That's very true. I can't imagine how this can be done with life insurance.
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tazimmer Premium
Hi Daniel,

This was a long read but way too true. There is really only one thing I can add and that is to become your own banker. If you borrow money from yourself then you pay the interest to yourself. However you need to pay yourself the same rate you get from traditional banks. It takes awhile to set up but it is worth it. It's something that I am working on now.

Tim
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Interesting concept, however, when you start purchasing apartment buildings, would this work?

Where did you learn this? I have another method of income acquisition. Start with a penny that you've found and do not take this penny from any source where you are already making money. Keep this penny and any thing you make thereafter completely separate from any other source. Thus, this is a closed system.

Now, double the penny. This is step 1. Every step you take in this process you will be doubling the amount. In 28 steps you will have over one million dollars. This is something I learned from Stuart Goldsmith and the concept can be searched and found. It's got a lot of strict rules to it but if you can do this, you will learn a lot - and make money at that. Once you complete the 28 steps, the money is yours to do with as you please.

"Double Your Way to A Million." Search this.
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