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How Much Is It Costing You To Stay Poor?

Name: How Much Is It Costing You To Stay Poor?
Uploaded: 2024-10-27T21:00:18+00:00
Duration: 26 s
Channel: Shanli Liu, CPA, CTP
Description: In this motivational excerpt, the speaker recounts an anecdote where a presenter writes "$1,000,000" on a whiteboard and asks an audience member earning…

27 Oct 2024 · 0 min

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0:26

In this motivational excerpt, the speaker recounts an anecdote where a presenter writes "$1,000,000" on a whiteboard and asks an audience member earning $50,000 a year how much they are losing by not knowing how to earn a million. The presenter claims the hidden cost of ignorance is $950,000 annually, far exceeding the audience member's visible monthly expenses such as rent, food, and car payments. The speaker uses this story to argue that the greatest financial burden is not fixed costs but the lack of knowledge and skills to increase income, urging listeners to recognize and address this hidden expense.

Years ago, I was sitting in the audience and I saw a man write million dollars on a whiteboard and he called someone from the audience. He said, how much do you make per year? And they said, $50,000 a year. And then he put a minus sign and he said, did you know that it's costing you $950,000 per year to not know how to make a million dollars a year? Every single month you've got your rent, you've got your food, you've got your clothes, you got your car, you got whatever else you spend. And you think that's my fixed costs. The biggest cost that you have is ignorance.