Imagine working hard for 25 years, but making no progress towards improving your station in life?
What if you can’t retire? What if the future promotions, and raises, and company-provided social welfare you expect don’t materialize?
If you’re part of the middle class and not purposely building wealth, you in for an unfortunate surprise. From “Stuck in the Middle”:
[…] in inflation-adjusted dollars, after the Great Recession hammered incomes and a limp recovery failed to boost them, the average U.S. family is in the same spot as it was in 1989.
Twenty-five years, zero gains.
Heard of Japan’s lost decade? For middle-class families, this has been a lost quarter-century.
I’m not a big fan of scaring people into action, but it’s only getting harder to succeed financially in the world. It doesn’t take a lot to get started, it just takes getting started and the courage to continue.
Oh, and a plan. Like the one in my book.