There Is No Middle Class Anymore

The Middle Class Myth

The middle class is a myth.

Basically you got the top 1% of Americans who are disproportionately controlling most of the country’s wealth.

And things aren’t going to change any time soon.

Technically there is still a middle class, but it doesn’t mean anything anymore.

Middle class used to mean you can buy a house and make enough money to pay bills.

But now over 68% of Americans are living paycheck to paycheck, meaning MOST people are struggling financially.

So what’s really going on? How did we get here?

Well, it’s all about how the rich make their money.

Most ultra wealthy people barely work. They instead use their existing money and assets to create MORE money through investments, loans, and tax loopholes.

Meanwhile, you work a salaried job, exchanging time for money and focusing solely on income rather than wealth generation.

But how can you escape the middle class and live the same life as the super rich?

Well, if you can’t beat them, join them.

There Is Only Rich And Poor In 2024

You probably already know that wage growth has been outpaced by inflation, which is the worst it’s been in 40 years.

Meaning the purchasing power of the average American has massively declined.

On top of that, college tuition has increased over 1200% in the past 4 decades.

The median house price is around half a million dollars as of 2024…

And healthcare (which is free in countries like Canada and Belgium) continues to increase in costs.

So with SO many people working paycheck to paycheck, with no savings in their bank account, and with piles of bills stacking up…

…how can anyone possibly survive?

Well, the answer is simple. You NEED to be rich to live in this country.

If You Can’t Beat Them, Join Them

America is a rich man’s paradise.

If you’re rich, you can leverage your wealth to create more money.

The rich can outsource jobs, delegate tasks, take out huge loans against your assets, buy/sell real estate, find tax loopholes…the list goes on.

Meanwhile, everybody else has to work for money, trading their time for income.

So what can you do?

You can start a business.

Over 90% of wealthy people own at least 1 physical or online business.

When you have your own business, you make your own money, make as much of it as you want, and then you can even sell the business later for $1,000,000s.

You can also copy the super wealthy’s investment strategies, including their bets on public stocks.

Platforms like Bloomberg and CNBC frequently highlight these moves, offering a blueprint that you can literally copy.

But the big point here is owning assets. Assets are how the rich stay rich and use their money to make MORE money.

This includes real estate, stocks, and even intellectual property like songs or inventions.

Build up enough wealth generating assets in a diversified portfolio, and you can start making money like the ultra rich too.

Just keep in mind though, all of this WILL take a long time.

There are no get rich quick schemes that work.

But the sooner you start a plan to build a portfolio of assets, starting with a business, the better.

It may take you 5 or even 10 years to do this…but it beats working at a desk for another 40-50 years just to retire as an old man.

Strategies To Break Into The Upper Class

While it will likely take many years of hustling to break out of the middle class, there are things you can do right now to help you start building wealth:

1. Financial Literacy and Education

• Read and Research: Dive into books, podcasts, and online courses about finance, investment, and entrepreneurship. Prioritize content that demystifies wealth-building strategies used by the affluent.

• Attend Workshops/Seminars: Enroll in workshops or seminars focused on asset management, tax optimization, and investment strategies. I often hold a free Beginner’s Guide To Day Trading masterclass you can check out.

2. Launching Your Business with a Wealth-Building Mindset

• Business Plan Development: Craft a business plan that outlines a clear path to revenue and asset creation. Consider how your business can evolve into an asset itself.

• Legal Structure and Tax Efficiency: Choose a business structure (e.g., LLC, S-Corp) that offers operational flexibility and tax advantages. Consult with a tax advisor to implement strategies from the outset.

3. Emulating Investment Strategies of the Wealthy

• Monitor Investment Moves: Use financial news platforms to track where top investors are putting their money. Look for patterns that might indicate broader market trends.

• Investment Platforms: Sign up for investment platforms that allow fractional share purchases, making it easier to follow in the footsteps of successful investors without massive capital.

4. Asset Acquisition and Diversification

• Real Estate Investments: Explore real estate crowdfunding platforms as a way to enter the property market with lower initial investment. Consider REITs (Real Estate Investment Trusts) for diversified real estate exposure.

• Stock Market: Start building a diversified portfolio with a mix of stocks, bonds, and ETFs. Utilize robo-advisors for automated, algorithm-driven investment strategies. It’s like cheat codes for money.

5. Mastering Tax Strategies

• Tax Planning Consultation: Schedule regular meetings with a tax professional to stay ahead of changes in tax legislation and to optimize your tax strategy.

• Maximize Deductions and Credits: Keep meticulous records of all business-related expenses to maximize deductions. Invest in accounting software or hire a professional to ensure accuracy.

• Retirement Accounts: Maximize contributions to tax-advantaged retirement accounts (e.g., IRAs, 401(k)s) to reduce taxable income and grow investments tax-free.

6. Continuous Learning and Adaptation

• Stay Informed: Regularly update your knowledge on financial markets, tax laws, and economic trends. Subscribe to industry newsletters and financial journals. Knowledge is power, and the rich always know the next move.

• Networking: Join entrepreneurial and investment communities online and in-person to exchange ideas, strategies, and advice with peers navigating similar paths. Who you know is everything in today’s world.

The BMM Takeaway

You need to be rich in order to live comfortably in 2024, plain and simple.

But be careful with this mentality.

If you constantly feel like you don’t have enough, and you’re always trying to accomplish the next goal, you’ll never be happy in the moment.

And constantly trying to reach the next financial goal can trap you in this cycle.

So generate wealth over time to prevent burnout, and practice gratitude for all that you have now.

I always find that when I focus on enjoying life, helping people, and not worrying, I make money faster and easier than if I’m stressed and hustling.

So work hard, get rich, and finally beat the system…but enjoy the little things along the way too.