The Five Biggest Scams of Your Life
1) Wall Street investing
2) 401K — leave it with us
3) Buy a Home
5) Middle Class
These are traps and require your agreement and participation in order to perpetuate. Each of the above require you to become a passive spectator involving trusting others. When you invest in a mutual fund or stock on Wall Street you have no control and most people have very little information. Certainly you lack access to the current information.
Regarding 401K. This was developed by lawmakers with guidance from Wall Street firms and support from the IRS to provide you with a tax benefit today if you were willing to surrender control of your money for your life time. Do you understand? You gave up control of your money until the age of retirement and if you take the money out before this period you are penalized 10% and then have to pay your taxes. Bottom line is you give up control and when you do that you no longer are in control.
Buy a home and your money is tied up. It can’t be invested anywhere else and when the markets contract so does your money — you are locked in hoping and dreaming that it will reach the high value it once had.
Over a trillion dollars in college debt and those people are earning little to no money to pay it back. College is a scam designed to keep your money in a system that doesn’t reward you. People invest $995 in my Cardone University and double, triple and even 10X their income in less time than it takes one person to go $100,000 in debt for a degree they most likely won’t use. Stop being lured by the old idea that a college degree is the only way to make it in life.
The government is lying to you about inflation and the middle class is a myth. All government reports deny inflation, yet if you make $68,000 annually where I live in Miami you can’t pay your bills. While commodity markets are getting crushed, the reality is you don’t keep copper, oil, and wheat in your refrigerator.
The cost of living in Miami, where we have our offices, suggests that $68,000 is break-even for a family of two with one child. In San Fransisco, that number can swell to North of $160,000. What does this say of those in the middle class that are making above median wages? It means that the middle class is a pure myth! I have been saying this for some time now, and it will only worsen.
If you want to change the conditions in America you don’t do it by talking about protecting the middle class and raising minimum wage. The American family is being warned. Get out of the middle class or continue to be punished. No political group can save some 200,000,000 people that make up the “middle class”.
I hope this helps,