From Comfort to Chaos: Why Your Financial Choices Matter More Now
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 7 November 2024
⏱️ 52 minutes
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Summary
Ken and Danille McElroy explore how systemic economic forces and common financial habits trap people in cycles of debt and limited wealth. They discuss the pitfalls that hinder financial growth and cover practical strategies to safeguard one's finances against inflation and rising costs.
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Visit Ken's Bookstore: https://kenmcelroy.com/books
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
Ken's company: https://mccompanies.com
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DISCLAIMERS: Any information or advice available on this podcast is intended for educational and general guidance only. Ken McElroy and KenMcElroy.com, LLC shall not be liable for any direct, incidental, consequential, indirect, or punitive damages arising out of access to or use of any of the content available on this podcast. Consult a financial advisor or other wealth management professional before you make investments of any kind.
Although Ken McElroy and his affiliates take all reasonable care to ensure that the contents of this podcast are accurate and up-to-date, all information contained on it is provided ‘as is.’ Ken McElroy makes no warranties or representations of any kind concerning the accuracy or suitability of the information contained on this podcast. Any links to other websites are provided only as a convenience and KenMcElroy.com, LLC encourages you to read the privacy statements of any third-party websites. All comments will be reviewed by the KenMcElroy.com staff and may be deleted if deemed inappropriate.
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Transcript
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| 0:00.0 | So today we have an interesting conversation. |
| 0:03.5 | You know, we're going to talk about why they actually want you. |
| 0:08.3 | I'm going to start over here. |
| 0:10.6 | Today we have an interesting conversation because the government kind of wants you to be poor. |
| 0:14.7 | It's beneficial to them if you don't really have money. |
| 0:18.2 | And there are certain things that we see with people that they do that kills their |
| 0:23.3 | wealth as well. And I don't know if the government really wants people poor, but they have to |
| 0:29.4 | inflate the money supply in order to make it a consumer economy. So I think if you understand the |
| 0:36.3 | rules, then you can play them. But what happens is a lot of, and |
| 0:40.6 | this is, I felt this way when I was a kid. I don't know about you, but I grew up with my parents saying, |
| 0:46.9 | you know, save money, save money, save money. And I'm not saying that you shouldn't, but because |
| 0:52.1 | there are things you got to save money for. |
| 0:59.5 | But if you save money for the long term, then it's going to get inflated away because even the Fed's own website says that their target is 2% inflation. |
| 1:05.3 | So, so you can't save money and know that it's going to devalue over time. |
| 1:09.4 | So the real problem, though, is that when people acquire this money and they either save |
| 1:15.9 | it or they spend it, right? |
| 1:18.3 | So, like, part of the problem is that they're saving it and it's losing value. |
| 1:21.6 | And part of the problem is they're spending it. |
| 1:23.3 | But what they're not doing is they're not investing it. |
| 1:25.9 | And I think a lot of times, you know, this is like for people's ego, right? Right, right. They need purses or cars or whatever they |
| 1:33.2 | need to feel better. That's true. There's four things here that we've outlined that will definitely |
| 1:37.9 | kill your wealth. And they're not big things. That's the interesting thing. It's mostly education, right? |
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