you know the world economic Forum said and this is a direct quote by 2030 you will own nothing and you will be happy there's a new breed of poor people out there some by societal design some by choice they don't look poor on the surface but they are cursed to live their entire lives being anxious about money welcome to alux the place where future billionaires come to get inspired number one your rent consumed half of your income or you still live with your parents you don't own much and what you do own fits in a
suitcase if someone would just lend you one they told you location location location and now you're paying a premium price for a broom closet and a toilet you tell yourself that it's fine because you wouldn't live anywhere else but for the first time in modern history we have multi-generational mortgages meaning your parents have a mortgage that they won't be a to pay in their lifetime so they pass it off to you in the hopes that you'll become the owner owning a home is one of your biggest goals in life yet you don't understand the house
you live in is not an asset but a liability hearing that doesn't make sense to you which is why you're one of the new poor yes okay the boomer generation screwed everything over for you but there needs to be some level of personal responsibility if you're ever going to make something happen but hey math makes your brain HT hurt and you're more of a soft skill personality type your emergency fund is under $1,000 basically you've got no emergency fund ask yourself truthfully if you had no ability to generate money starting today would you be able
to afford your current lifestyle rent bills food health for 3 months if your answer is no then know that you are what's considered to be the new poor you are one small emergency away from personal bankruptcy the last time something like this happened you either borrowed money or pawned or sold some of your stuff you justify it by calling yourself a free spirit and say that possessions are holding you back when in reality you feel lost and anxious you blame it on the state of things on capitalism on the world being on fire but the
truth is you avoid thinking about it the same way people avoid going to the doctor because they might find something as wrong your decision not to face the truth is only doing you more damage later on but you're okay with that because hey that's future use problem number three you don't have a career you have a job and even that might be taken over by AI soon and you barely earn enough to cover your living costs and you go out a couple of nights a month you've got a certain lifestyle that hangs on by a
thread but but since that thread hasn't broken so far you keep at it this job isn't what you want to do so there's no point in figuring out how to get promoted because that would mean even more responsibility doing something you hate so you do it poorly but not poorly enough to get fired or anything and in exchange your boss pays you just enough so you don't quit you're both unhappy with this Arrangement but you push through you've got this idea of buying land out of the city growing your own food and maybe having some
small rentals that would supplement your income or doing something creative with your life but you've been having these ideas for over a decade and you haven't done you don't see technology as a threat because you think you'll be able to reinvent yourself anyway but there are fewer and fewer Avenues where that might be the case so deep down you just block all this out number four you've got student debt or other debts for that matter you realize your degree didn't do much in today's economy you keep pursuing this field of your specialization just so you
don't feel like you've wasted all that money but you know plumbers and electricians are out earning You by a landslide the thing about debt is you have to realize that you're not even broke you're less than broke a homeless person on the street might not have much but they're above $0 you on the other hand don't have that luxury you're actually on the negative side you need to work for several years to catch up to them and even when you do generate income the bank that acts as your master needs to get paid first so
you survive on what's left if you are unable to pay it your student debt gets handed off to your children let that sink in number five you've got no investable assets if you want to grow your wealth you need to own something that generates or increases in value over time your car for example that's a liability okay not an asset you need to put gas in there you've got to change the oil fix it up when it breaks pay for insurance so it's costing you money just to have it what do you have in your
life outside of yourself that's either making you money or going up in value consistently this right here is why 90% of the population is struggling financially you love going to Starbucks and buying overpriced coffee and snacks but do you own any Starbucks stock do you know that you can buy one share of Starbucks for only like a 100 bucks most platforms today allow you to buy less than that in a fractional share and if the company does well not only does the price of your stock go up but you get paid dividends for example Starbucks
pays a 2% dividend that means for every $100 you invest in Starbucks you're getting $2 every year and there's no limit to how much or how little you can buy number six inflation is outpacing your earning power you know you're the new poor when things are becoming more expensive faster than you're able to increase your income right now the price of goods and services in the US is approximately 20% High higher than it was 5 years ago houses are 23% more expensive medical services are 47% more expensive the list goes on okay and it doesn't
look like things are going to get any better anytime soon if your income didn't increase by 50% in The Last 5 Years you're 50% poorer to put things into perspective you're experiencing the highest inflation in the last 40 years in other words this is the worst you've experienced so far that safe and stable job well it might not cut it for much longer number seven you use payment plans to buy things although you end up paying more buy now pay later services and installment payments are everywhere these days you mean I can just pay a
little bit now and get my hands on it immediately and then pay the rest later in multiple installments sure sign me up but what most people don't realize is there's an interest attached to this service which can be up to 30% more if you were to pay the full amount let's say a phone costs $1,000 you can either pay the th000 upfront or get it in installments most people assume the installments would be four payments of $250 adding up to $1,000 but that is not how it works the average retailer will typically charge a flat
interest rate between 11 to 27% so instead of paying four installments of 250 bucks you agree to pay four installments of 300 bucks at the end again the retailer Pockets 1,200 bucks 200 more than what you should have paid just because you have enough money in your pocket to take it home today doesn't mean that you can afford it number eight you transact primarily with digital money not cash if we were to tell you that cash was a superior form of payment from a value perspective you might call us crazy it takes 32 digital transactions
for the value to go from the individual to the credit card companies so bear with us for a second okay this will blow your mind let's say you've got $50 in your bank account every time you pay for something online with your phone or credit card MasterCard visa and the payment processors charge a fee of 2.87% to 4.35% for each transaction to make matters worse it's usually a small fee plus the percentage you can ask any online retailer and they'll tell you exactly what their split is so you take your $50 and you go to
a retailer to spend it not all $50 end up in that Retailer's account assuming a 3% processing fee only $48.50 CS is available for that retailer to spend the retailer goes and spends it the processors take their cut once again and out of that initial $50 you only have $473 left they will chip away at it every time you use digital money to pay do this 32 times and almost all of the value has been moved from the hands of society into the pocket ETS of these businesses so why was cash a superior form of
payment well if I gave you a $50 bill you get $50 if you go somewhere and buy something worth $50 that person gets to keep all the value too not to mention that banking institutions well they charge you a maintenance fee just for keeping your own money in your account number nine you are your parents retirement plan the new poor are chained to cost unrelated directly to them your parents did poorly in life no savings no Investments little pension and now that they're older you realize there's no real way for them to support themselves so
you have to step up your parents will need support treatment for illnesses that become more and more frequent you're happy to be there for them sure but you realize that you can barely take care of yourself so your already poor financial life is taking an even bigger hit as the whole just keeps getting deeper you tell yourself that you'll figure it out but the confidence is kind of low number 10 everyone around you is living the same way you are everybody around you is struggling not a single person is thriving and you're fine with that
and blame the system whatever that is you know you can look at someone's group of friends and quickly realize exactly who they are if everyone is dealing with the same struggles and no one is winning there's no path out there's no guidance nobody is clearing a path the new poor have already given up there's no motivation to change anything because the problems seem out of their control so they settle in mediocrity if you're surrounded by losers by poor unmotivated individuals you need other sources of input okay you can still be friendly but you won't find
the answers with them how valuable would it be for you to have a mentor someone to point you in the right direction and teach you how to build your life Brick by Brick how much would you be willing to give someone to show you the way to a great life some in your position would say everything and we built the Alex app for people just like you millions of dollars of coaching sessions actionable Mentor advice and stepbystep plans right at your fingertips and if you download the app and scan the QR code on screen you
can get yourself a yearly subscription for 25% off as a gift from us to you the cost of just eating out at a nice restaurant once 10 minutes a day and just see what happens alexir because 100,000 people have downloaded the app and their lives are changing progressively for the better while you're out there missing out because well you don't trust that anything could ever be different so download the app scan the QR code and allow us to prove you wrong number 11 you pay for the services and one-off experiences not the goods the way
the market keeps you poor is by limiting how much value you're able to acquire they're selling you this service focused lifestyle where you no longer own anything instead you pay a substantial amount to use what they own you don't own a car you Uber everywhere you don't even own a bike you rent an electric scooter because walking takes you an extra 7 minutes this generational shift removes value from the lives of the youth if you own the scooter well after a few years you might be able to sell it and return some of the money
you spent to acquire it back into your pocket convenience is costing you money you're paying $15 at a time and it doesn't sound like much but you just don't realize how expensive this actually is in the long run the average Millennial will spend over $300,000 in the next 25 years compared to approximately 75,000 if they were to use public transport efficiently everything is digital now you buy digital games digital Goods there's zero resale value there once you spend the money it is gone you no longer repair things either you just replace them fully but that's
another story number 12 you overpay for the little things but you do it consistently you consider them small treats but it's the same with the ride sharing example you're overpaying by 300 to 500% for the illusion of convenience here's the comparison okay the average coffee at Star Starbucks costs $2.50 not the fancy drinks just a regular cup of Joe but making that same coffee yourself costs about 36 Cents everything included you're paying 7x for something brand name medication is five times more expensive than generic medication although they have the same chemical construct marketing got you
paying $400 for a Gucci t-shirt that costs $6 because you want the status that comes with it with none of these expenses you're getting any additional benefits in terms of quality yet you consistently overpay despite not being able to afford it number 13 you prioritize the present over the future the new poor are the YOLO generation you follow trends that urge you to give it all to the present and not to care about the consequences the trending tick to sound of the day is you'll make the money back but you'll never be X years old
doing stupid so end it sounds good in theory but in practice you're actually borrowing from the future and that bill is coming soon personal responsibility is adamant if you only have $200 in your account you're $35,000 in debt why would you spend $75 going out on a Friday night number 14 you lack any highd demand hard skills your skills include spending time on the internet and a vague interest in something oddly specific like locally brewed craft beer dark cartoon theories or trying to make your pet Instagram famous although we both know that ship is sailed
the new poor are alive but don't know how to do much they just Vibe so take your Hogwarts house out of your Twitter bio and worry about your actual living situation the new poor got participation trophies and it developed into feelings of entitlement the new poor don't understand what it means to be able to bring something to the table because for their entire lives all they did was sit down and somebody else put a plate of food in front of them number 15 talking about your money gives you the ick but you love following Rich
celebs sitting down to talk money gives the new poor anxiety in their eyes it's so lame to talk about money because there's more to life than financial success which is true but it's really hard to be Zen when your newborn is hungry or needing diapers and you've got no money you drool at displays of wealth and fantasize about being on the other side of the phone screen the new poor are those who chose to remain the same because changing would require effort the new poor mentality is a virus of the Mind make sure you're not
infected and if you are there are ways to cure yourself through education so what other signs of the new poor do you see where you live let us know in the comments and join the conversation and and since you watch this Sunday motivational video until the very end it's only fair that we reward you with a bonus and that bonus is by your age your parents had more work experience and wealth acquired than you do adjusted for the time they were in you entered the workforce later than they did they were used to tougher times
and had pain tolerance higher than you do but you do have a massive competitive advantage over previous generations your reality is augmented by Tech you can do more in 5 years than they did in 30 because you have the ability to scale exponentially today a business doesn't look to grow by 10% year-over-year no instead it tries to double every quarter because if the metrics are right it is more than attainable the older generation that has amassed so much wealth is well old and outdated it's just a matter of time before other young folks figure out
you can actually out compete them because you're now in tune with the culture that's your competitive Advantage if you understand this and you put it into practice you will be rich those who wake up are no longer considered poor you're just pre-rich on your journey and if that's the way you feel about yourself write the words pre-rich in the comments let's see how many of you are doing something about it and not just wasting your time
