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Investing in Real Estate with Clayton Morris | Investing for Beginners

1090: The Middle Class Is Disappearing - Episode 1090

Investing in Real Estate with Clayton Morris | Investing for Beginners

Clayton Morris

How To, News, Education, Business News, Business, Investing

4.41.1K Ratings

🗓️ 26 September 2024

⏱️ 5 minutes

🧾️ Download transcript

Summary

The middle class has been slowly disappearing for a number of decades now. Over the past 50 years, the percentage of Americans in the middle class plummeted from 61% to 50%. And I’ve got to tell you: I only see it getting worse from here.

Of course, there are a number of systemic and economic factors that go into this tightening of the middle class. For one, inflation over the past few years has hit the middle class especially hard. But there are also a handful of big mistakes people make that hinder their progress toward financial freedom. Today we’re going to explore 5 major money pitfalls that the middle-class faces. If you’re ready to transform your financial situation and start building wealth, this episode is for you!

Transcript

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0:00.0

The middle class is

0:05.0

class is disappearing and here is what is killing it.

0:09.0

The middle class has been slowly disappearing for a number of decades now.

0:12.0

Over the past 50 years the percentage of

0:14.2

Americans in the middle class plummeted from 61% to 50% and I've only got to tell

0:20.1

you I see it getting worse from here. Of course, there's a number of systemic and economic factors

0:25.6

that go into this tightening of the middle class.

0:27.4

For one thing, inflation over the past few years

0:30.0

has hit the middle class especially hard.

0:32.3

But there's also a handful of big mistakes

0:34.5

that people make that hinder their progress

0:36.6

towards financial freedom.

0:38.0

And today we're gonna explore five major money pitfalls

0:41.2

that the middle class faces right now.

0:43.0

And if you're ready to transform your financial situation

0:46.0

and start building wealth, then let's get into it.

0:49.0

Write these down.

0:50.0

Number one, they're buying liabilities.

0:52.0

Liability is anything that takes money out of your pocket

0:54.7

every single month.

0:55.8

Your mortgage, your car payment, credit cards.

0:58.3

Have you seen credit card interest rates right now?

...

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