Raise Your Standards and Instantly Raise Your Wealth – Jerry Fetta
I’ve built my life on continually raised standards. The truth is, everyone has what they have because of their standards. Standards is actually a military term at its root meaning “flag or other conspicuous object to serve as a rallying point for a military force”. This is an incredible definition because our standards really are like our flag.
When our flag is high that means we are proud, we want to be visible, we want to be a rallying point in life. We are born with our flag high. As life goes on, different events cause us to ever so slightly lower our flag. By lowering our flag, we are actually showing ourselves and others that we are being defeated and we are giving up. A flag at half-mast usually represents a mournful event for a country. No flag at all represents total defeat.
With finances, we are where we are because of our standards. There are certain financial principals which are basic requirements to just get by and many of us adopt those as our standards. Why? Because it is what the general population does. You see, our culture decides that certain things are good financial ideas and adopts them on a mass scale. The funny thing is, those things are often passed down from other people and we have no idea where those other people got those things either.
Here’s a few examples:
Invest in a 401k. I used to sell 401k’s and so I know quite a bit more than the average person knows about this. The 401k was put in place in the 1980’s as a way for large companies to get out of having to fulfill the obligations of their pensions, for Wall Street to control more of the middle class’s money, and for the government to increase their control and their tax revenue. But I get a tax break. Yes, you do, but Wall Street does not. When a billion-dollar enterprise makes a profit, the government gets much more in tax revenue than when Bill who makes $60,000 per year files his tax return. The government knows that by putting your money in the hands of Wall Street and then taxing Wall Street’s billion-dollar enterprises in the corporate income tax bracket, they make more in tax revenue off the same money than if they just left it with you and taxed you. Investing with the Wall Street casino is a way of lowering your financial standards.
Own a home. This push came out decades ago and was pushed by employers as a way to prevent employees from moving and having to hire new staff, by the housing industry as a massive money-making scheme, and by the government as a way to increase tax revenue. Employers do not like losing good employees and they do not like hiring bad employees. The solution? If employees can be convinced to buy a home they will be more likely to plant “roots” and stay in one location which lessens the risk for the employer of that person leaving the company. Now think about who makes income off your house? The builders, the inspectors, the realtors, the title company, the mortgage company, the insurance company, and we cannot forget the government! When these people tell you buying a home is a good financial idea not only is it untrue it is also a significant conflict of interest. In fact, you are the only party who does not make income off your house. It is in everyone else’s best interest for you to own a home and they will make sure their sales pitch is unbeatable! How does the government make money off your home? Property tax. This is why you never actually own your home. You are simply renting it from the government. Home ownership is a way of lowering your financial standards.
Saving money. You probably think I’ve lost it now, don’t you? Let me clarify: when I say, “saving money” I am referring to the habitual accumulation of money in the bank where it grows nothing but severe emotional attachment from its owner. We should save money in short spurts to be invested immediately to increase our knowledge and ability or to produce income. Those are the only things to save for. But America doesn’t do it that way. We “save for a rainy day”. Did you know that was actually a phrase from a government War Bond campaign decades ago? When you mindlessly put money in the bank two things happen. #1 you pay taxes on it because it was a retained earning. The government likes that. #2 your bank does what is called Fractional Reserve Banking. This just means that for every $1 dollar you deposit they are allowed to give out 9 dollars to other customers or banks. Yes, when you put your money in the bank not only do they give it to other people so that the bank can make money on your money, but they do it 9 times per each dollar you deposit. Saving money “for a rainy day” is a way of lowering your financial standards.
So, what should you do? Raise your standards. If your next-door neighbors and co-workers are doing it, you probably shouldn’t be. Abandon the ideas of investing in a 401k, owning a home, and saving for a rainy day. Replace them with MKM. MKM is what I teach my clients. It means Make, Keep, Multiply. I teach my clients to make money, keep money, and then multiply money. A 401k will not make you wealthy. A home will not make you wealthy. Saving for a rainy day will not make you wealthy. The sequence of making money, keeping that money, and multiplying that money will for sure make you wealthy. It’s not get rich quick. It’s get rich for certain.
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Own Your Potential!
Jerry Fetta is a husband, son of Yahweh, Entrepreneur and owner of 5 privately held businesses. Jerry lives in Alaska with his wife and 2 dogs. His no-nonsense approach to business, finances, and life speaks truth and provides clarity to his clients and followers. His personal mission in life is to empower millions of leaders to own their God-given, ultimate potential.