I think his point was basically you can't buy what you used to be able to by doing the same job.
So a teacher's salary can't buy today what a teacher's salary bought before...
I feel this a lot.. I used to be able to save 30,000-40,000$ a year if we watched our spending.. Now, we are absolutely dilligent about watchign our spending and we are on track to save 10,000 this year.. Our only increased cost has been a pre school fee of 400$ a month.. our montly costs should actually be lower because we were spending 1000$ a month on pre school..
We all have points...
My point is if you have control, and can be aware, one does not need 6 figures to make it...lol...not even close...
My wife and i, We set ourselves up from day one...One salary goes to the bank, one salary goes to bills and saving to buy our toys etc.
We still do this today..
Since the day we joined accounts, i told her my plan and she loved it and joined in...
My salary is straight in the bank, never once touched for many, many years. It grows quick when bringing in a small salary, and a large salary, it just grows a hell of a lot quicker now.
Some of Mommas salary goes to bills just typical taxes and power, gas , fuel etc, and majority goes to a different account for future investments, trips, toys, fun stuff.
She rakes in the coin as well, several years, majority of our life was dirt poor, as mentioned, no field trips, hand me down clothes, No money for hot dog day torn shoes, Manitoba broke kid from the farm. Beyond broke...
I graduated at 15, i got skipped 2 grades in school, I started working at 15 full time and moved out on my own at 15, not a room mate, on my own...Mom and dad hated it, but knew i was doing it i turned 16, 5 months later after moving out and got my license.
The 80s were tough on farmers and mortgage holders. My parents ended up retiring at mid 50s as well, as they saved and scrimped and bought a business, then another one and so on, now well off, but a longgg road to get there. I am digressing now, but hey, tis Friday and i feel like typing as i eat my 8 eggs sitting here...
Of course the dollar does not go as far as years ago, Correct, the dollar does not go as far as it used to, that's obvious and a given we all see.
My point is having control will give one freedom. WE EARNED the ability to speak on it, and i teach many folks how to manage their funds, i build budgets of close to 250 million last year for my company over a few mine sites. I am asked frequently to show folks and help them and i do it well.
I do this all day long. I walked the walk, now i am talking the talk, and i earned the ability to do so, i wont sit and hear we need to have loans and debt to be happy...Material things bring zero happiness after about 2 months, maybe 2 days some times.
The desire to have everything RIGHT NOW is what kills us...
My attitude is not as such, i am patient.
Look at Bodybuilding and juice.
Everyone, well, i should say many folks want it right now, instant reward and gratification. Not me..I planned since day one to be doing this in my 50s, looking like i am in my 30s, ability to gain and progress after 30 years. I trained many, many years natural, and watched my buddies gear up and had a wicked 5-7 years, i surpassed them all, became a sponsored athlete and told by many in "the know", i could be top 10 in NA, anytime i wanted to turn it up a notch and slow my role in my career, i did not do so. I never chased the dream, i stayed strong with my plan as laid out above. The right choice for certain.
I was patient, slow and low doses, taking breaks, getting analysis with bloodworks constantly before it was in vogue.
I am the same way as a hunter and trapper and horse trainer and coach and mentor, all things i am decent at...How? Patience man, just good ol patience... Farm boy pride, hard work and patience.
I hope i dont come off as arrogant, as i dont have one arrogant bone in my body. However i speak up, i speak the truth and facts and that makes some uncomfortable and viewing as arrogant. When you earned it and did it, you can speak of it...
I share with no shame, why would anyone not??