Don’t be average, you can’t afford it…

“Don’t let average people make you feel guilty for pursuing your mission in life”

– Eric Worre –

If you’ve been reading my blog (and you should be regularly… so please subscribe) then you know that I’m a big advocate for financial literacy and how the lack of it has had massive negative affects on peoples lives. The average person has very little financial knowledge which is why the average person has little to no savings, drowning in debt and nothing put towards retirement planning. The average person will NOT be able to stop working in their later years because they are not preparing properly, if at all.

Even though I’m not a financial planner (yet, but working on it), here’s a tid bit of financial advice anyway. Don’t be average… you can’t afford it!

Did you know that nearly 77 million Americans have debt in collections? That’s just a portion of people who are drowning in debt, Nearly one third of Americans pay the minimum amount due on their credit card each month because they can’t afford to pay more. In 2018 the banks and credit card companies racked up $104 billion in interest and fees.

Being average requires that you keep up appearances and maintain a heavy consumer mentality instead of an investment one. There’s no money left over to put towards financial planning when you’re focused on living a lifestyle beyond your means.

It’s only 43% of Americans who spend more than they earn and borrow on credit each month to cover the shortfall. Credit card balances reached $930 billion in the last quarter of 2019, which was an increase of $46 billion from Q3.

The average American household has over $132,000 worth of debt and that doesn’t factor in those with a mortgage, then it averages to over $172,000. This debt factors in things such as credit cards, mortgages, auto loans, student loans, medical debt just to name a few. The average credit card balance alone is $16,061.

Are you noticing a word that stands out a lot so far? And I’m not even finished yet!

Only 30% of Americans have a long term financial plan and many of those aren’t planned properly against estate taxes, future market downturns and unexpected misfortunes. The average American’s 401k balance is only $96,288 and that’s tax deferred so the the taxes have yet to be paid on that amount. In addition to that, only 18% of Americans actively contribute to an IRA which is capped at $6,000 annually for people under 50.

The average person lives paycheck to paycheck. In fact, ten million Americans don’t even have a bank account. I think it’s safe to assume that these same people also don’t invest for their future or have goals set to become financially independent.

The average American’s social security retirement benefit is $1,363 per month. That calculates to $16,356 annual income. The average retiree relies on social security for nearly 90% of their income but it was intentionally designed to cover only around 40% of the average workers pre-retirement income.

The latest spending stats tell us the average US consumer spends about $60,060 per year yet, money statistics in America for 2019 say the median yearly income was $48,672. 

I could keep going on but I’m going to start to wrap this post up. I hope the point I’m making here is pretty obvious. The whole reason that I created this blog is to help promote financial literacy to average people so that the new average of financially educated people becomes the standard.

If you haven’t done so already, give some attention and love to a couple of my previous post linked below so that you can avoid being average and live a life that you can afford to live.

This is why I teach financial literacy…

5 financial habits that you should develop…

5 strategies of the rich that you should know…

How to manage your money like the rich…

Please help me get the message out and share these articles on your social media accounts and assist me in my mission of teaching financial literacy to the masses… it’s my passion!

As I’m starting a financial services business, my time is becoming limited to what I can put towards writing this blog which is my passion. I will be continue to post new articles regularly, but they will be once a week and most likely on every Sunday.

I so appreciate you as a valued reader and it’s an honor for me that you give your precious time to reading this blog.

As I like to say… “the journey begins with the first step”.

If you see value in this article then please be sure to subscribe to the blog if you haven’t done so already. I’ll be putting up more wealth building posts in the future and you can have them delivered straight to your email account.

Sign Up

I’ll see you in the next post. Until next time… be sure to comment below and let’s get some dialogue going. I’m curious to know, what tips do you have on avoiding being average?

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This is why I teach financial literacy…

“We were not taught financial literacy in school. It takes a lot of work and time to change your thinking and to become financially literate”

– Robert Kiyosaki –

There’s a lot of financial wisdom being shared all over the web. Tips, tricks, strategies, how to guides and step-by-step tutorials just to name a few. I’ve written a few blog posts about these things myself. Many of them offering valid advice and with the intent to help the average person gain financial wisdom.

But it’s not the how that’s the issue here, it’s the why.

What’s holding you back from accumulating financial wealth up to this point? It’s probably because you were never taught financial literacy when you were growing up. We are trained and conditioned from adolescence to become good employees that are dependent on getting a good job that we can survive off of.

Imagine this…

You’ve been working for this corporation for 24 years. You’ve been a solid employee that’s always arrived on time, worked hard and built up a reputation in your field as “the go to guy”. When shifts needed to be covered and staffing was short, you were the one who came through time and time again. You were the pinnacle of the ideal employee.

Now, you’ve just started working a 12 hour shift because they needed you to help them come in early to get things caught up. You step it up and manage to get things caught up to where they need to be and that’s just the first three hours into the shift. You work tirelessly all night to keep the chaos under control and finally get to the end of your shift. You’re called into an urgent meeting before you punch out just to be told you’re being let go.

Yep… been there… done that.

The problem with that is what happens when we no longer have that “good job” that we rely on to pay for our cost of living expenses? What were we taught to do when that happens? EXACTLY!

You see, the answer to that is to get another job that you have to hope won’t be lost again. Just continue to participate in the rat race until one day you can no longer work for whatever reason that becomes. And if you have no retirement savings to fall back on… then what?

You’re not broke because you can’t build wealth, you’re financially strapped because you weren’t prepared to build wealth from a young age. You were led to believe that making a lot of money means spending a lot of money on frivolous things and luxurious items because “you only live once” (YOLO).

The problem with that is people want to live the rich life without knowing how to manage their money like the rich.

The truth is that you don’t become wealthy because you make a lot of money. A person becomes wealthy because of how they manage the money that they make. The sad reality is that most don’t know how and that’s why people who make six and seven figure incomes still end up broke.

There are several key factors when it comes to building wealth, but two of them are extremely important. One of them is discipline. The fact is that no matter how well educated you are, if you’re not disciplined enough to manage your money properly, you won’t achieve financial freedom.

That’s where I kept messing up on my past attempts to build wealth. I didn’t focus on the discipline part and sabotaged my financial gains time and time again. I should be a lot further down the path to being financially independent than I am, but I haven’t given up and learn from my failures.

Which brings me to the second key factor to building wealth… perseverance. The ability to not give up and begin to rebuild a financial foundation with a better understanding of what it takes to be successful on this journey.

Too many people just accept that they will never become rich because they have the wrong mindset. Once again, they were conditioned to believe that financial wealth is for the “privileged” and the “lucky”. Simply because they were never taught financial literacy.

Because I know what it’s like to endure financial hardships and also because of my failed attempts to accumulate wealth in the past, I’m very empathetic to those who don’t know what they don’t know. It’s become my passion to educate and teach financial literacy so that others can avoid the mistakes I’ve made.

My goal isn’t just to achieve financial freedom for myself, but to achieve it with as many other people as possible a long the way. There’s no joy in taking the journey all alone.

The mission is to keep on teaching financial literacy as I make progress, however slowly, and track my progress to share with the readers of this blog. I believe in the philosophy of you teach what you learn as you learn what to teach.

In order for others to follow the path I forge, I feel it’s my duty to provide markers towards progress. Achieving financial freedom is a slow momentum process that gradually accelerates over time.

People don’t become successful because they quit. Building wealth isn’t easy but it also isn’t hard either. It’s about laying brick upon brick gradually over time. There is no “get rich quick” short cut to wealth that doesn’t come with high risk for the “reward”. Only fools fall for the dream of “overnight success”.

So the why in why I teach financial literacy is because I don’t want people to stay trapped in the rat race until they die. I want to see wealth and prosperity for the masses and less suffering.

I ask for you to be there with me as we lift up others who follow our lead and give back to those in need with encouragement, so that we can be the change we want to see in the world.

As I like to say… “the journey begins with the first step”.

If you see value in this article then please be sure to like and subscribe to the blog if you haven’t done so already. I’ll be putting up more wealth building posts in the future and you can have them delivered straight to your email account.

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I’ll see you in the next post. Until next time… be sure to comment below and let’s get some dialogue going. I’m curious to know, what’s your opinion on teaching financial literacy?


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 Click on the link and follow me on twitter for daily tweets and updates https://twitter.com/RFinancially

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What desperately needs to be taught that isn’t…

“The number one problem in today’s generation and economy is the lack of financial literacy”

– Alan Greenspan –

Looking back at my early years, I wonder why it was required that I had to study things like social studies and world history when in fact none of what I was forced to study has any value to my adult years in life. Yet the ONLY financial class in high school that I recall offered was accounting, and that was an elective so it wasn’t required learning.

It really miffs me to know that so many people in society have very little, if any, financial knowledge other than how to balance a checking account. And some people can’t even do that correctly! A huge chunk of banking profits come from overdraft fees.

Our education system is broken and too many kids are entering into adulthood without the real world knowledge that they need to be financially successful. Not only that, they aren’t encouraged to pursue entreprenuership endeavors, but instead indoctrinated into the belief of “get a good education to get a good job”.

Also, kids are led to believe that going into student loan debt of tens of thousands… if not hundreds of thousands of dollars is justifiable to become wage slaves dependent on employment. It isn’t until they graduate from college and attempt to enter the workforce that the reality of loan repayment sets in.

Then if they’re even fortunate enough to find a job in the field that they pursued an education in the first place is questionable. Often they have to settle for a job that they could’ve gotten without going to college in the first place. Oh, and those student loans still have to be paid back and can’t be charged off in bankruptcy!

Once they’ve entered the workforce they are now dependent on their employer for that after tax deducted paycheck. It’s rare that the youth think to put money aside in case of an emergency for unexpected expenses. And lets face it, retirement planning and managing their money like the rich isn’t a top priority for most twenty somethings.

So they’ve started their key working years in debt with student loans. Then there are cost of living expenses such as rent/mortgage payments, utilities, food and transportation to factor in. Typically credit card debt has accrued at this point as well. Credit card companies target students for good reason… they tend to have limited finances.

By the time the desire to build wealth sets in, they’re thousands (often tens of thousands) in debt and have limited, if any money left to put towards that goal. That’s when they turn to the advice of “financial gurus” who never seem to advise them to ALWAYS pay themselves first with the mantra “part of what I earn is mine to keep”. But instead they’re told to get out of debt and then invest in mutual funds that earn 7% (magically in guruland) annually.

Financial literacy is something that we can’t afford to not be teaching/learning. Since we can’t rely on the education system to make it required learning, we have to make it required learning for ourselves. I implore you to make this a priority in your life and encourage everyone that you know to do the same.

The reason I started this blog was to connect with people who are in pursuit of financial knowledge and building wealth. Especially those who want to do so but can’t either because they are drowning in debt and/or have limited funds to do so.

The world is on the verge of bankruptcy and financial collapse. We as a society need to purge the consumerism obsession lifestyle out of us and make financial stability our mission. The societal financial safety nets of social security and medicare are unsustainable. Social security was never meant to be the sole source of retirement funding, but a supplement to it.

As unemployment surges and people have no financial reserves, they are turning to government assistance programs which are strained and reliant on tax revenues for funding. Food banks are maxed out and charities can only give so much.

So, let’s focus on solutions and strive to teach those willing to learn. Let’s be the change we want to see in the world by forging the path to financial freedom and lift up as many as we can a long the way.

As I like to say… “the journeybegins with the first step”.

If you see value in this article then please be sure to like and subscribe to the blog if you haven’t done so already. I’ll be putting up more wealth building posts in the future and you can have them delivered straight to your email account.

I’ll see you in the next post. Until next time… be sure to comment below and let’s get some dialogue going. I’m curious to know, what’s your opinion on teaching financial literacy?

One last thing, follow me on twitter for daily tweets and updates https://twitter.com/RFinancially

Follow me on twitter


 Click on the link and follow me on twitter for daily tweets and updates https://twitter.com/RFinancially

https://twitter.com/RFinancially