The Money Lie about the Yearly Income

 

"I make $50,000 a year. I'm about to buy a new house."

Whenever I get paid, I never look at the gross income. I always look at the net income. Why? Because that's the money I take home. Looking at your gross income can be depressing when you compare it to the net income. The harder you work, the sadder the comparison becomes.

There are many people in financial trouble because they run their numbers according to their gross income. When you apply for a loan or get a credit card, they even ask for the gross income. So, you may be making $50,000 a year, but you're taking home about $38,000. So, this person walks around with their chest out, spending money like they're taking home $50,000. This is why these folks get into serious debt.

For those of you who read the book Rich Dad, Poor Dad by Robert Kiyosaki, he focuses on cash flow. This means: Take home pay - Expenses = Whatever's leftover.

This is your cash flow.

Now, if I take home $38,000 a year, but I am spending $50,000 a year, this means my yearly cash flow comes to negative $12,000 or negative $1,000 a month!

This is how people get deep in debt and feel the need to file for bankruptcy.

This person needs to learn how to make an additional $12,000 a year by getting other income streams. With just four income streams making $250 a month each, you could patch the hole that the taxes took out from your paycheck.

This is why I'm in favor of a budget. You get to look at your take-home pay, your expenses, and whatever you have leftover. These are the numbers that matter, not your gross income. -Confidence Magnet, 01/01/2021 (Courtesy of Blaggenuf)

In 2016, according to the Brookings Institution, the black net worth was $17,150, and the white net was worth $171,000. This data confirms that most black people are just treading economic waters. The so-called pandemic has increased economic strife for black people overall. Evictions are an example. The so-called spending power of blacks in the United States is a mirage. -Martin Dandridge, 01/01/2021 (Courtesy of Blaggenuf)

I would say that most Americans are treading economic waters.  The numbers get very skewed when you look at things from an everyday perspective.  I live in a predominantly White area, and the majority of these White folks are struggling like Black people.  The only problem is a lot of the highly populated Black areas are expensive.

You could buy a whole house with acres of land for about $80K in rural or small-town areas.  That's a down payment for a place in The Bronx, and that's on the low end with no acreage.

 

I think these White majority-owned businesses bump up the numbers.  Take Elon Musk, who has an estimated worth of $155 billion, and you put him in a room full of 100,000 White people who make minimum wage. Do you realize that the average income of that population looks heavily inflated due to just one person making the lion's share of the net worth?

If you take him out of that room, the average income drops exponentially. -Confidence Magnet, 01/01/2021 (Courtesy of Blaggenuf)

                                    This video is via Lisa Cabrera's Channel.
Confidence Magnet, this is what is done. Many videos are showing White people lined up at food kitchens to get take-home boxes. Of course, the dominant society does whatever it can to make itself look good. -TheKing_65, 01/02/2021 (Courtesy of Blaggenuf)

Martin, when it comes to these studies, we can only halfway believe what we’re told. After all, although the researchers are supposed to be objective, there’s always a larger agenda at play. Therefore, when pulling data, it’s best to refer to Black Demographics for our information. -TheKing_65, 01/02/2021 (Courtesy of Blaggenuf)

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