Is your income going up faster than the price of real estate, groceries, fuel, education, health care, insurance, taxes and medical costs? Inflation has been referred to as the “invisible tax” and it impacts you greatly. Warren Buffet said, that only a few people out of every thousand slightly understood the concept of inflation. So whether you are making 50k a year of 500k a year, you need to take the time to understand what inflation and what you must do about it.
Not a day goes by when the financial newspapers or networks don’t mention the word inflation. If you listen to the Federal Reserve, the government’s mouthpiece, you are made to believe that there is no inflation in the USA. In fact, they claim there is deflation. REALLY?
Go to your local grocery store, check out tuition for your kid’s private school, the cost of your medical coverage for your parents or what you pay at the fuel pump and the idea that there is no inflation seems impossible.
I am sharing this with you not to alarm you but because you can’t make your financial dreams come true living in a fantasy. If Americans were told the truth about our monetary policies, they would either rise up in revolution (not recommended yet) or get way more serious about making MORE money. Notice how many people complain about money but don’t hustle for it. Why? It’s because we are being lulled into a false sense of financial comfort.
You can’t create financial freedom when you settle for comfort. And my concern for you is that too many Americans are getting comfortable again believing that things are OK or at least better than a few years ago.
Every week I do a radio-internet show called The Cardone Zone where I talk about careers, economy finances, and money. The response from this weeks show about inflation struck a chord with people. Did you know?
- Average incomes (adjusted for inflation) are lower than they were 40 years ago.
- Fuel and food are not calculated in inflation.
- US printed 116 million new dollars every hour in 2013.
- Inflation does not figure a devalued dollar.
- 80 million social security paychecks go out monthly that only go up if inflation does.
As I said, I am not suggesting you revolt against the government. I am suggesting you revolt against comfort and any false sense of security. This is killing your production and ability to progress to the next level.
“More money” must become your mantra. More money gives you power and control against inflation and ultimately is the only way to fight against this invisible thief. Now is not the time to get comfortable no matter how good you think your financial condition is in. Now is the time to be on guard and on offense pushing yourself to produce those extra sales. Now is the time to seize every opportunity.
Knock off any ideas of “I am all good” because you are operating with information that is incorrect. A person’s financial condition is “all good” right up until the point that they are not, and then it’s too late.
This is how I stay money motivated no matter what level I am at.
- I assume all government reporting is false.
- I never compare my finances to those that have less than I.
- I meet with my wife and two kids each week to discuss our finances.
- No matter what I think enough is, I multiply by 10.
- I remain intensely committed to taking care of my wife and girls.
I urge all of you to get with your spouse and kids and share this with them and discuss whether you have gotten lulled into a false sense of security. Commit to working together to make sure you create financial security for your future.
Be great. Nothing else pays.