Posts Tagged ‘Income’

Productive Gains

Posted: September 4, 2018 in Economics
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“The underlying economic problem in America today is that money no longer flows to everyone equally in the way that it used to.

 That much is obvious, right? As our country has gotten richer than ever… the income disparity widens every year.

 But most Americans don’t understand why this is happening.

 And here’s the secret:

 The real underlying cause of our wealth and income disparity in America is that wages are no longer connected to gains in productivity.”

-Porter Stansberry

“The real underlying cause of our wealth and income disparity in America is that wages are no longer connected to gains in productivity.” -Porter Stansberry

“The key to saving isn’t about raising your income.  It’s not about saving a penny here and a penny there.  It’s about understanding yourself better and shaking all the frivolous desires from your mind.” –David Eifrig

Future Income

Posted: March 11, 2017 in Money Matters
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“Money saved generates future income.  Income is what sets you free.  And freedom is what truly makes us happy.” –David Eifrig

Wealth Step

Posted: March 10, 2017 in Money Matters
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“The first step to building wealth is not to increase your income.  The first step is to curb your spending.” –David Eifrig

True Wealth

Posted: February 23, 2017 in Money Matters
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Many investors overlook the fact that your true wealth is your income.” -David Eifrig

“Many Americans – average folks working to build a comfortable life – assume the ‘rich’ have a secret.  It seems they know something about ‘how the world works’ that the rest of us don’t….  It turns out, the wealthy do harbor a secret – three of them, in fact….  And these secrets not only build wealth, they allow you to use it to live the life that you want to live….

You don’t need to be rich, though.  You don’t need to pursue money at all costs.  But having financial stability gives you freedom.  Reducing stress improves your health.  And understanding how to manage your income makes for better relationships with your family and loved ones.

Tenet No. 1: Save Religiously.  Tenet No. 2: Invest for the Long Term.  Tenet No. 3: Obsess About Risk

Only by following all three of these tenets can you successfully set yourself free from living paycheck to paycheck.  If you were to find folks with enough cash to live how they’d want to live, you’d find almost all of them followed these tenets.” -David Eifrig

“No matter how skilled you are as an investor, upping your savings rate is more powerful to your wealth than either increasing your income or increasing your investment returns.  That’s because it’s a one-two punch… you increase what you have to invest, while decreasing what you spend.  You also learn how to live longer on less money….  Remember that ultimately, how much you save will be the difference between a lifetime of poverty… or one of wealth.” -David Eifrig

“You need more than a high income to be wealthy.  It’s amazing how many people, young and old, don’t understand this.  Too many folks equate making ‘mucho dinero’ with being rich….  A big income can give you a great lifestyle. But if you’re spending it as fast as you’re making it, when you stop working, or when a financial emergency arises, you’ll very quickly find out how un-rich you really are.  If you want to become wealthy—in terms of having lots of money put away for a rainy day or money to spend after you stop working for it—you are going to have to learn how to save and invest a significant portion of your income.” -Mark Ford

“Remember…the average rich person has seven sources of income.  While the average poor person has one source of income.  The only way to avoid being crushed financially is to diversify your income sources so no one person can destroy you.” -James Altucher