Why Most Americans Are Broke

**Rich Grads** · 09-03-2009 03:41 PM

It's very significant that people think nothing much
of paying $40,000 for an automobile (or two or three),
but blanch at $2,000 for an important seminar
or study at home course.

Or on a smaller but still significant scale,
$60 on eating out 4 weekends per month somehow makes
it into the family budget, but $200 per month on a
business on the internet is seen as "pricey."

People invest in stuff that clutters their homes and
their lives (take a look in your neighbor's closet
lately?), but will never set them free. They invest
in stuff, an entertaining evening, and luck.

More than 55 million Americans, or 27% of the adult
population over age 21, visit a casino every
year, and roughly one-half of American adults spend
more than $45 Billion annually on lottery tickets.
Meanwhile, the self-help and self-education industry,
while growing, is still only a $6 Billion dollar
industry in the U.S.

Astonishingly few people have made the connection that
investing in themselves is the highest-probability
investment they could ever make.

According to the Census Bureau, over an adult's working
life, high school graduates earn an average of
$1.2 million; associate's degree holders earn about
$1.6 million; and bachelor's degree holders earn
about $2.1 million.

But not even a college education can compare with
what entrepreneurs have known for centuries:
there is no education quite like the education that
comes from a mentor, or someone who is already
successful in business.

Millionaire mentor Robert Allen has helped more people
become financially free than any other person in
history, and Robert Kiyosaki's Rich Dad Poor Dad
book and financial courses count thousands of testimonials
from people who invested in themselves by learning
from other successful businesspeople.

And the industry both "gurus" single out as the best
mentoring framework for learning the entrepreneurial
ropes?

Need I mention again that it's Network Marketing?

Says Robert Allen, who has earned more than $100 Million
in his lifetime:

"When I compare my network marketing income to the
businesses I've owned and operated during the past 20
years, our network marketing business is the hands-down
winner. I've owned restaurants, clothing stores, a
chocolate factory, apartment buildings, commercial
buildings, seminar companies, newsletter businesses,
and direct-mail, multi-media, and software busineses.
I've invested in Broadway plays. I've even owned a
piece of a professional basketball team, the Utah
Jazz. Network marketing beats them all."

Says mega real estate guru and financial teacher
Kiyosaki:

"If I had to do it all over again, instead of building
a traditional business, I would have built a network
marketing-type business."

Very big clue my fellow young entrepreneurs.

Best of success!

P.S. To learn about partnering with the Rich Grads Team,
check out our home page at the link below.
And don't forget to get our FREE report.

**jonathanfigaro** · 09-03-2009 03:49 PM

I will keep my answer short in simple.

They are broke because of what they think on a daily basis. No one can be fully broke unless they think of themselves as a financially impoverished within their minds on a daily basis. Even up and coming entrepreneurs who may not have the physical millions in there bank account must think like a millionaire all day every day.

People are broke because of what they think
People are rich because of what they think

Plain and simple. IF you want to be rich, then think about yourself as rich!

**ZingerIntl** · 09-03-2009 06:03 PM

I agree... I also like this quote

Never give up what you want most,
For what you want today.

Altho fear is a huge factor, people will not sacrifice a few years in order to get many years ahead. I am way more afraid of 40/40/40 for still not enough than I am of sacrificing a few years of adventure to get what I really want.

**pacificfame** · 09-04-2009 11:13 AM

This just goes to show you how the majority of the population doesn't have a lot of value for self education. We live and see things in life through the things that we value.

**Ske** · 09-04-2009 11:43 AM

Isn't this a good thing? I don't think we want even more competition.

**byzantium** · 09-04-2009 04:08 PM

Have you read about what happens to people who actually WIN the lottery? Usually they go on a massive spending spree and blow all their money, then have to sell all the stuff they bought to cover their debts, then they're right back to living in a trailer. The big winners are usually people who have had very little of anything their whole lives, and who even worse have the "poverty of mind" that the above posters are talking about.

They tend to not be very smart, and to lack the sophistication needed to deal with an avalanche of requests for money. One big winner set up a foundation to build churches, instead people wrote to him asking for Hummers and mansions, this was around 2003. He then lavished money in his granddaughter, who got into drugs and overdosed. There is such a thing as being too rich. Most lottery winners can't deal with sudden wealth, and the societal programming to SPEND kicks in, so they go on absolutely wild spending sprees. It truly is easier to spend money than to make it.

The thing about casinos is, the prizes are usually small. Winning $3000 or a cheap car won't warp somebody. But when government got involved, and the prizes became $300 MILLION, it became a problem. I wanted to be rich too, then I realized what I really wanted was freedom, not money. Now I really don't care about the money, I just want to be free. The same people have always been on top, and always will be. Even if you or I had $500 million, we'd still be viewed as interlopers. Face it, your birth is your destiny. That's just the way it is. The best you can do is try not to get sucked into the herd.

**Rich Grads** · 09-19-2009 10:53 AM

Originally Posted by byzantium

Have you read about what happens to people who actually WIN the lottery? Usually they go on a massive spending spree and blow all their money, then have to sell all the stuff they bought to cover their debts, then they're right back to living in a trailer. The big winners are usually people who have had very little of anything their whole lives, and who even worse have the "poverty of mind" that the above posters are talking about.

They tend to not be very smart, and to lack the sophistication needed to deal with an avalanche of requests for money. One big winner set up a foundation to build churches, instead people wrote to him asking for Hummers and mansions, this was around 2003. He then lavished money in his granddaughter, who got into drugs and overdosed. There is such a thing as being too rich. Most lottery winners can't deal with sudden wealth, and the societal programming to SPEND kicks in, so they go on absolutely wild spending sprees. It truly is easier to spend money than to make it.

The thing about casinos is, the prizes are usually small. Winning $3000 or a cheap car won't warp somebody. But when government got involved, and the prizes became $300 MILLION, it became a problem. I wanted to be rich too, then I realized what I really wanted was freedom, not money. Now I really don't care about the money, I just want to be free. The same people have always been on top, and always will be. Even if you or I had $500 million, we'd still be viewed as interlopers. Face it, your birth is your destiny. That's just the way it is. The best you can do is try not to get sucked into the herd.

Great post byzantium! Great points about lottery winners. I actually experienced this in my family first hand. Someone had won $150,000 at the local casino and they just went out and bought a bunch of "stuff." A year later they were unemployed and had no money!