There is a saying where it states from Robert Kiyosaki, the author of RICH DAD POOR DAD:
"It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for."
This is a very short post that I want you to consider. In society's eyes, many people would view individuals with a 100K annual income as HIGHLY SUCCESSFUL and people with 15K or lower as FAILURES in comparisson, right?
Okay then, how about this example?
Person A earns $15,000 a year, has no debt, no mortgage, has never used a credit card and no family responsibility.
Lives with parents and only pays a small phone bill. BUT has a lot of spare money to invest on cryptos, mutual bonds, stocks, projects, etc. And knows how to cut expenses and grows his money with small income.Person B earns $150,000 a year, has $100K in student loan debt, pays $500-1K in mortgage a month, buys a lot of expensive pleasures with a credit card + interest (buys a car and vacation on credit and pays minimum monthly), has electricity/water bills going almost $500+ and TAXES. Has almost no money left to invest. Pays child support or big family expenses, may have multiple childrens as well.
So if society views high income as highly successful in life, are the high income people truly happy? Maybe in short term but long term, if they let debt and credit unpaid build up interest, long term, its DEVASTATING. And low income, if they invest a good portion of their income every month on stuff that can make money grow, long term, they may end up earning more in dividends that can far surpass the net worth of a person with a high salary job. Something to think about. Of course if a high salary person invest and such, even better :D
Hope this topic helps someone understand this statement by Robert Kiyosaki. Having liabilities even with high income for example will make you spend more than you can afford. Its always good to know how to use your money... something schools does not really teach at all sadly.
Please upvote if you find this info valuable. Comment below your thoughts on this and resteem to raise awareness of this fact. Until next time guys, take care, God Bless and stay cool! BYE BYE!