Get Woke!

As inequality in wealth, income, and consumption comes to an ever-growing gap, what steps are you taking to make sure you are on the right side of the equation?

The Federal Reserve posted a study on their website about inequality in 3 dimensions that is incredibly depressing. Besides Global Warming, the greatest problem of our time is the growing inequality in wealth.

This problem of inequality is the main reason as to why I started this blog.

So, the real question is… Are we doing the proper things to fix the problem or are we doing things that exacerbate the problem?

Asleep At The Wheel?

So many of us hope that our finances are going to work out. We hope that we get better jobs in the future, we hope to have the magic lottery ticket, and we hope that we get what we deserve.

There is nothing wrong with hoping for the best, but the problem arises when our hopes mix with expectations. Having high expectations will leave us in despair when we do not meet those expectations. Instead, we should control our expectations… and our lives.

One aspect of taking control of our lives is to stop hoping and praying for the best and take matters into our own hands instead. I hate to break it to you, but if you are in a bad place in life, stuck in a rut, or simply just need a boost, no knight in shining armor is going to come and save the day – you need to take control of your life!

Your retirement fund isn’t going to figure itself out, your boss isn’t going to give you the raise/promotion you deserve, and your dreams are not going to come true by simply hoping that things will work themselves out.

We don’t get what we deserve, we only get what we work for.

So, stop and take a long hard look at your life – are you working towards your goals? or asleep at the wheel?

It’s pretty hard to get where you want to go if you are asleep at the wheel.

Take Control

There are pessimists in life and there are optimists. Some people are believers, others are non-believersPeople that can put you down or people that can bring you up.

My point is that life is very binary… and so are people.

Either you are the type of person who will bitch and moan about all their problems and why they can’t do the things they want to do. OR! You are the type of person who gets shit (metaphoric or literal) thrown in your face and you manage to have a good attitude about it.

You can’t control what happens to you in a given day, but you can control how you react to it.

The same theory applies to any and all investment opportunities. Either you are on the defense about a certain topic or you are on the offense. You can be a risk taker and take a chance in life, or you can keep maintaining the status quo of your life.

Maybe you think Bitcoin is a complete fraud with no intrinsic value or you think Bitcoin will revolutionize the world. Either way, there are opportunities just waiting for us to take advantage of!

Opportunity Is Under Our Noses

The best example I can think about when I think about being asleep at the wheel of the car called life is… Amazon.com!

Amazon (AMZN) has been the #1 performing stock in the history of the U.S. stock market. Starting from an IPO price of $1.79 in 1997 to a price of $1,362.54 (as of Jan 23rd, 2018) translates into a %79,117.44 gain in just about 20 years.

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We literally could have bought Amazon.com stock at any price in the past 20 years and made a reasonable profit as Amazon seems to be hitting all-time highs every day.

As so many of us buy (and even sell) things on Amazon, I would think that way more of us would own Amazon stock! However, the reality is that barely any of us own shares of AMZN directly. This is a shame since Amazon has revolutionized the world in more than one way.

With the price point of $1,300, it is pretty difficult to buy a single share of Amazon stock today. Don’t give up hope though! There are plenty of promising companies that are up and coming that we use every day. You have undoubtedly heard of Twitter (TWTR) or Square (SQ), which are both run by CEO Jack Dorsey. Maybe you heard of a company called Groupon (GRPN) or another called Yelp (YELP) which help consumers find the latest and greatest experiences. Or up and coming e-commerce companies; Shopify (SHOP), Mercado Libre (MELI), Etsy (ETSY) and Wayfair (W).

My point is that there are opportunities everywhere – in stocks, entrepreneurial pursuits, cryptocurrencies, real estate, and many more assets that I will be diving into in future articles.

Thanks for reading!

Jack

 

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P.S.S. The above is meant to be read as general purpose information and is not investing advice as I am not aware of your particular situation and risk appetite. I may also have a personal interest in stocks mentioned above.

5 comments

  1. So the most terrifying part of this post is the federal reserve article you link to. I’m not sure that I totally agree with your it’s all about you missing opportunities (I mean there are structural reasons why some people are less financially literature and or financially risk taking than others), but the fact that we are becoming poorer on a number of dimensions and that these dimensions reinforce each other is terrifying. Thanks for alerting me to the article. I’m not totally sold on the opportunities but maybe I have to stop being so conservative.

    1. There are plenty of investments people can make today that can start allowing you to make money work for you.

      I have written articles about promising stocks under $5 or “The Best $20 Investment For New Investors”. The problem is that the majority of us have no clue how to get started- how to look for opportunities, Investments, or even understand the basics of compound interest. You don’t have to have a lot of money to start investing, you just need the right mindset.

      Most people just leave their money in their checking/savings account to allow inflation to nibble away at your hard earned money. We all need to invest as wages have been stagnant and with automation (think self driving cars) being more of a reality, many of us will be displaced in the next 5-20 years.

      Anyway, thanks for the comment, I definitely understand the urge to blame structural racism or sexism as the cause for inequality, but the real problem is that the %1 have a different mindset than the rest of us.

  2. Great article.👍 I agree and am definitely the latter of the two personality types (though admit to occasionally having my ‘feel sorry for myself’ days 😋).
    I’ve shared this on my Facebook blog page, my Twitter, and Pinterest.

  3. Hi Jack, nice post 🙂 What is amazing is that you have mentiones the principles of emotional intelect and even meditation is that you can decide on how to reackt to what is going on around you 🙂 But great point – your life depends on how you live it 🙂

    1. Thanks for the comment!

      Building wealth is all about mindset, perspective, and self control. I definitely see how that is tightly aligned with meditation

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