I had a play around with the inflation calculator. It’s fun, unless you think about how it’s affecting your buying power and quality of living today.
I didn’t go all out and play with the numbers back in the ’50’s but looked at the average wage from just 10 years ago. Check it out.
In 2007. If you were earning $30,000 and with calculating the rate of inflation averaging 2.4% you should be now earning $43,600.
A person earning $50,000 income in 2007 should be on $72,700. (You now have a 31.3% decline in purchasing power)
A person earning $60,000 income in 2007 should be on $87,340 (You now have a 31.3% decline in purchasing power)
A person earning $90,000 income in 2007 should be on $131,900 (You now have a 31% decline in purchasing power)
If your income hasn’t increased to the level above, then this really needs to be a wake up call to anyone who feels like they are not getting ahead. Because you will be able to buy less and less as the years go by.
Do you go to work on a Monday because you Have to or because you Want to?
Having a letterbox income (that’s an income from a side business) should be a priority for you. By the end of the working week over 5,500 people have started their own home based business. That’s 5,500 people who will potentially be increasing their purchasing power and make more money, 5,500 raises, 5,500 people who will be paying less tax because of their business from home, 5,500 people who refused to get left behind and live at the unjustified speed that they do.
Don’t be the person sitting back on your rocking chair when you’re in your 70’s thinking – ‘I wish I…did that…or started that…or looked more into that….or wasn’t so nervous…or worried what my spouse, family or friends would think…or, I wish I wasn’t so skeptical or lazy’.
I’m unsure if your friends will pay the bills or give your kids the quality of life they deserve. Stop worrying what others think and focus on what’s possible for you and your life.
Be one of the 5,500 people this week that makes a choice on their future. Your job probably won’t give you the lifestyle you want. How can I tell? Well, I can’t…but if money and time were no object, what would you be doing this very moment, what car would you be driving and how would you be travelling or what would your vacations look like?
I know right! It’ll be different. Like the man in the image, you can ‘Wish all you like’ but you’ve got to take Massive Determined Action to get ahead – talk to me and I’ll show you what we’re up to, because the next 10 years doesn’t need to look like the last.
Remember. Stop Wishing. Start Doing. See you at the Top.