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Invest THIS Much Monthly To Be Rich (Surprising)
One of my favourite sayings is “if you do what everyone else does, you’ll have what everyone else has” and quite frankly, when I look around me, I’m not sure having what others have is what I want. Generally speaking, when it comes to money, most people are either in a ton of debt, have very little savings, have an insignificant income or a combination of all three. Again, this is not a position you, nor I, want to be in. As such, if we want to get ahead financially, we need to take the road less travelled and one way to do this is to invest unlike the rest. As such, let’s dive into how much you should be investing if you want to live a financial life well above the average!
As I just alluded to, most people’s financial situations aren’t great. The median American’s bank balance has just $5,300 in it meaning that they are one major car repair or broken fridge away from having their piggy bank’s fully depleted. Ironically enough, the average American credit card balance is also $5,300 which may not seem overly consequential to you until you realize that if you’re only making the minimum payments on your card, it would take you nearly 3 years to pay off and cost you an extra $1,400 in interest. Finally, recent polls show that the median income for a single American individual is just $36,000 a year. I don’t mean to offend anyone who makes this amount of money but…
