50 minutes ago
Have you heard of the Pareto principle? It’s also called the 80/20 rule.
The principle states: a small percent of what you do accounts for MOST of your results. It also states: a small percent of people, hold MOST of the wealth.
I don’t know how Pareto figured this out, but the original principle was documented in 1896. Pareto at that time showed that 80% of the land in Italy was owned by 20% of the population.
Let’s look at Pareto’s principle today:
10% of American’s hold 84% of ALL stocks.
The richest 20% of the world make 82% of the worlds income.
The top 20% of earners pay 80-90% of Federal Income tax.
In the U.S. the top 10% hold 90% of the wealth.
Of the 10%, how many of them do you believe are families of color?😔 This reality is what inspired me to champion financial education for our generation.
Building wealth seems difficult when you don’t know how to get started. This is what has kept most people out.
Today, I teach professionals how they can take steps to join the 10% of the world.
Joining the 10% is possible if you are willing to DO what 90% of people aren’t willing to do.
If you can discipline yourself, and learn to KEEP a small portion of every paycheck you earn, instead of SPENDING it, and if you invest that money, my promise to you is that you will be part of the 10%. Every dollar you spend, makes someone else rich. Learn to make yourself and your family a priority. If you need guidance, just ask. I’m here to help.