The rules of the game have changed.
However, most Americans are playing by the old rules. You know – the ones that were probably ingrained in you by your parents, who urged you to study hard, go to college, get a job that you’ll keep for your whole career, and you can trust in your employer and the government to provide for you.
They had your best interests in mind, but it doesn’t work like that anymore.
Like never before in the history of the 20th or 21st centuries, we’re in the age of self-reliance when it comes to finances. We can no longer rely on the government to take care of us. Each individual worker, citizen, and family is responsible for their own well-being. That’s a pill that’s not easy to swallow, but the sooner you get it down, the faster you can adapt.
Since the American consumer has been responsible for their own retirement after that tectonic shift in the 1980s, they’ve been punished and ill-prepared. The American public were slapped in the face when the dot.com bubble burst, watching helplessly as the NASDAQ comp index lost 78% and the S&P 500 lost 50% of its value. It took seven years for the market to bounce back to its all-time high – and those numbers don’t include adjusting for inflation!
However, when the market did come roaring back, it was so white-hot, bolstered by a real estate bubble that led to a false sense of confidence.
THIS was how things were supposed to be, they thought; THIS was normal; THIS was the American Dream they had come to expect.
It was all a façade, and soon the mortgage and real estate marketing completely imploded, too. But it wasn’t just homeowners that took a haymaker that knocked them to the canvas. When the housing bubble burst, it caused the unemployment rate to increase to double digits, forcing huge numbers of Americans to retire early, lose their homes, and tap into their retirement accounts just to put food on the table and a roof over their heads.
The Great Recession was upon us.
Ten years later, the newspapers and financial analysts on TV talk about how we made a full recovery. We’re fed the narrative that things are going swimmingly in the economy once again. But, to this day, the average American income has not gotten back to its 2006 levels (adjusted for inflation), despite food, energy, housing, and healthcare cost going up drastically.
The Great Recession may not have just been an aberration, but a sign of things to come.
Is all of this shocking? Overwhelming? Depressing, even?
It should be.
But that also means you’re awake and can now see the financial reality before you.
Don’t be dismay because there’s also plenty of wealth, opportunity, and prosperity available in America, waiting for those who are willing and able to play by the new rules, and I’m going to teach them to you.
Let’s start here.