SwCA Episode 110: Why a good job making good money will leave you poor.

SITE: http://www.courtneyanderson.com/swca-episode-110-financial-fierceness-series-why-a-good-job-making-good-money-will-leave-you-poor.html SHOW NOTES: This episode is part of our FINANCIAL FIERCENESS!™ series! This episode is, “Why a “good job” making “good money” will leave you poor.” A “good job.” Is it the solution to financial insecurity? No. Financial independence is the goal. This is when you have no debt and income from what you own (rental properties, interest, etc.) pays your bills on your necessities (property taxes, utilities, etc.) and provides you with “extra money” for you to use at your discretion (going out to eat, entertainment, etc.). Financial dependance (i.e., being “poor”) is when you do not have enough income to pay your necessary bills and provide you with “extra money” to use for fun (discretionary income). There is a limit to how much income you are able to earn from your labor. You are able to increase the variable of how much you earn per hour (based on wages and increased efficiencies), yet you are always limited to how many hours you are able to utilize for labor due to the fact that you are one person. What happens if you “lose” your job? If you don’t have the income (from what you own) to pay your bills, you are financially dependent (or “poor”).Earning more income at a “good job” is a way to take those wages and buy things (securities, real estate, etc.) that you will own that will generate income for you around the clock. Owning income producing assets is the key to financial independence. So, a “good job” making “good money” is a way to obtain the resources to purchase investment generating assets, but that is all. It is “a means to an end” and not “the end”(the financial goal of independence).  © Courtney Anderson Enterprises LLC  CourtneyAnderson.com [email protected]