Most people waste raises on lifestyle inflation instead of building wealth. The speaker argues you should freeze your spending, invest surplus income into stocks, businesses, and education, and network strategically to accelerate your financial growth.
99% of people are always doing this wrong, and that's focusing on a monthly income. And don't get me wrong, we all need money to survive, but once you have all of your expenses paid for month to month, it's really time to start investing in your future, your kids' future. And that's by going ahead and purchasing stocks or building your own business or going ahead and actually paying for education that matters, that will put you on a different level than you are right now. You see, we are all a victim of lifestyle inflation. That means when we get a raise, it doesn't really matter because our bank account still hits zero because now we just purchased a new car, the new clothes, the new monthly subscription, right? It's a never-ending thing as far as what we can purchase to make us feel or hit that dopamine hit right now. But when we actually start investing into the future, right, we just keep our lifestyle where it's at, but now we're building on something. So again, regardless if that's stocks, crypto, going ahead and investing into your own business or education, do something that will go ahead and actually propel you to that next level. Even if that means shaking the right people's hands and being in the rooms where you wanna be in one day.
