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Why High Salaries DON'T Create Wealth, Why Western US Homes Cost More than Eastern US Homes
Description
No one gets wealthy from a high salary. Wealth is acquired by owning things.
But how can you own MANY things without much money? I discuss it.
Learn how to use major banks (Chase, Wells Fargo) to fuel your wealth and retirement when you're young.
Debt is like fire. Kids will burn down the house with fire. Adults will use fire (debt) to produce prudent leverage and outsized returns.
High salaries don't create wealth due to: lost time, no leverage, few tax benefits, and entrapment due to sunk education costs.
I sat down with a conventional financial advisor. Things got interesting.
Learn why Western US homes cost more than Eastern US homes. This fact confounds most real estate pros. I break down 8 reasons.
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Complete episode transcript:
Welcome to GRE! I'm your host, Keith Weinhold.
Don't make this giant wealth mistake - understand why a high salary does NOT create wealth. Learn what does instead.
See how to get deep pocketed-banks like Chase & Wells Fargo build wealth for YOU.
I recently sat down with a traditional financial advisor - this got interesting. Then, why do WESTERN US homes cost more than EASTERN us homes? All today, on Get Rich Education.
Welcome to GRE! From Port Jervis, NJ to the Port of Bellingham, WA and across 188 nations worldwide, I'm Keith Weinhold and you're listening to Get Rich Education. Welcome in!
When I grew up, I thought that people got wealthy from high salaries. I figured that I could get wealthy if I got a high salary too.
And then adulthood has proven to me that… they don't.
People don't get wealthy from high salaries. They get wealthy by OWNING THINGS.
Let's break this down.
People DON'T get wealthy from high salaries.
In fact, have you ever seen THIS happen? I haven't. I worked as an employee in both the public sector and the private sector, and I've been a longtime r