There are a record number of millionaires living in the U.S. now. Due to rising asset prices, a total of 300,000 new millionaires were created in 2015, bringing the total to a record of 10.4 million, according to a new report. Households with $25 million or more have actually gone up 73% since 2008.
Quite frankly, the people who saw their portfolios rise over the last 7 years probably didn't do much other than sit on the assets that they already owned and allow the printing press to simply work for them.
Of course, my mind wanders and I start thinking about these peoples' lives and what I can extract from these facts to share with everyone. If you have money to start with, you are positioned to generate much more wealth for the future.
Don't fight that truth. Instead, be Positioned!
Granted, money won't buy you ultimate happiness, but poverty can grind your soul to a pulp. $34,000 is the misery line, according to research produced by the San Francisco Federal Reserve. People who earned less than $34,000 were 50% more likely to commit suicide, researchers found.
It costs money to live in this world, and for those working very hard for very little, stress can certainly set in. It's hard to enjoy life when a medical bill comes up you can't pay, or are simply working month to month, watching every dime enter the account, only to leave. What is worse is money entering your account and your month ending with more debt than it started with, which is as much an individual problem as it is a global one.
And for those who will say that money is evil and is not important, try explaining that to the person who just lost their job and has been unemployed, being buried with bills and who is considering taking their own life.
The liabilities of life can overwhelm you, and financial stress can play a huge role in degrading your quality of life.
My goal is to educate my readers and to inspire them to create wealth with purpose.
Satisfied, wealthy people have mastered these areas in their lives:
- Learn to defer gratification and save your money...
- Enhance your marketable skills...
- Have balance in your life...
- Educate yourself daily and do not let your mind go idle...
- Invest wisely...
For those who truly are unhappy with the decisions you've made in the past and are scared to move forward, jump and the net will appear.
It's an extremely powerful thing.
Chief Editor, CrushTheStreet.com
I will be reporting on the Brexit this week with an exclusive interview with John Rubino, of DollarCollapse.com, following the "do or die" vote.