Are you on the anti-wealth plan?

[cadance]

This is Crazy Guys..........

"The Anti-Wealth Plan"

Though painful to say, most people go through their entire
life on what I call "the Anti-Wealth Plan." Others call it
the "40/40/40" plan. That is, you work 40 hours a week for
somebody else for 40 years and retire with $40 in the bank.

That's a bit of an exaggeration of course, but the U.S.
Social Security Board, for example, reports that 85 out of
100 Americans reaching age 65 don't possess as much as $250.
And only 2% are self-sustaining (the rest dependent on
family, church, or the government)!

The main problem with a typical job is that when YOU stop,
so do the paychecks.

If you ever want to acquire real wealth, you're not
going to get there trading hours for income!

RESIDUAL INCOME is what it's all about these days!!!!

[fobvip]

job = just over broke

[sunup]

Sounds like an MLM pitch Ive heard at a Quixtar meeting.

[akula]

your reasoning is flawed

just because "85 out of 100 Americans reaching age 65 don't possess as much as $250" doesn't mean that "If you ever want to acquire real wealth, you're not going to get there trading hours for income!"

this is an example of flawed deduction

why? because;

firstly, the majority of these "85 out of 100 Americans" can be expected to have had careers in entrepreneurship, as well as having had exposure to different kinds of financial securities that generate this magical "residual income".

secondly, people don't trade time for money. they trade certainty for money. if you're more skilled at trading certainty for time, or have the capacity to accept less certainty than the next guy, then that's just your personal choice. the market for labour is (generally) not rigged. participants (i.e. employees) don't get ripped off. they get what they pay for. entrepreneurship, on another hand, is structurally flawed. founders consistently expose them selves to irrational levels of risk because of confirmation bias.

most founders start ventures even though they'll enjoy more certainty in making more money pursuing an alternative course of action (e.g. a guy making an adsense site or joining an MLM network. in both instances, they'd get better returns, with less risks, simply taking a par time job, saving their income to buy a portfolio of index funds). of course, these are lifestyle decisions, hence they are irrational.

if you're concerned about your retirement plan, as a strategy you can expose your self to risky assets like private company stock, derivatives, licences, direct real estate and other speculative investments. the price you will pay is greater uncertainty in expected rates of return.

there's no mystery here

why am I saying this? because you seem to be swallowing a bullshit pitch by some guy who's gonna pull you into a scam

p.s. obviously "85 out of 100 Americans reaching age 65 don't possess as much as $250". prudent retirement planning, necessitates disposal and transfer of assets to third parties - so people can either get the pension, or lower their capital gains exposure by transferring assets to a trustee managing a registered retirement savings scheme (like a superannuation fund)

This is Crazy Guys..........

"The Anti-Wealth Plan"

Though painful to say, most people go through their entire
life on what I call "the Anti-Wealth Plan." Others call it
the "40/40/40" plan. That is, you work 40 hours a week for
somebody else for 40 years and retire with $40 in the bank.

That's a bit of an exaggeration of course, but the U.S.
Social Security Board, for example, reports that 85 out of
100 Americans reaching age 65 don't possess as much as $250.
And only 2% are self-sustaining (the rest dependent on
family, church, or the government)!

The main problem with a typical job is that when YOU stop,
so do the paychecks.

If you ever want to acquire real wealth, you're not
going to get there trading hours for income!

RESIDUAL INCOME is what it's all about these days!!!!

[akula]

errrr....yes, there is secret (e.g a skill) for creating wealth, but it lies not so much in asset selection (i.e. what to invest your self in), but something else