How to Get Ahead Financially

To some degree, getting ahead financially is something that we all strive to do, some more than others. However, with the way the cost of living has been increasing, this is something that is getting harder and harder to do for everyday people. Not only is it getting harder to stay ahead or get ahead but it’s becoming so difficult that many consumers can no longer manage and are struggling to keep up.

If You Can Make It Here, You Can Make It Anywhere

America used to be a place where if you worked hard enough you could make it. You could become a property owner, a successful investor, a business man or woman, a highly skilled medical professional, a leading labor worker or anything else you desired to be. However, we are owning homes at much later in life and due to the increased cost of living and wages that have for the most part not kept up, many are struggling to make due. If we can’t make due we also can

The American Dream

The American dream was always the embodiment of all that was and still is great about this amazing country. However, that American dream has slowly begun to fade away due to inflationary pressures. This doesn’t many anyway specific is to blame, it could be a whole host of reasons why this has happened and could just be the natural order of how things tend to occur. However, one thing is for sure, the median age of the average homebuyer is now 38 years old. Prices have gone up and much of what is loved about this great country has become unaffordable for many. The American Dream has been compromised and it appears that just being a homeowner is now a good chunk of that dream. A dream that many younger adults have been unable to achieve and are feeling less and less hopeful about.

Regardless of how many millennial money tips there are broadcast throughout the internet, there will always be a segment of the millennial population that eagerly wants to own a home but are simply priced out of the market. This will ideally change as time moves forward but owning a home at the median age of 38 has left many feeling like they are in a rat race and has been a significant demotivator for younger generation. So many feel this way that they’ve begun to question whether owning a home is actually worth it and are still deciding on renting or buying a home.

Investing as a Way Out

For many consumers saving and investing has been a viable path out of what appears to be a financial treadmill. Consumers who save and invest (even if it’s just in the S&P 500) have been known to be more successful in achieving their financial goals in the long term. Without a means to store value (like equities or even cryptocurrencies) purchasing property is significantly more challenging in desirable parts of the country. This doesn’t mean that investing is the only way to save and store wealth and build your net worth but doing so will definitely make your life easier and let you get ahead financially.

Business Creation

Consumers that have create viable business not only spark economic activity but successful business owners are those most often associated with the embodiment of the American Dream. Through a great idea, a great service offering or a great product, business owners can achieve success and get ahead financially. Although this isn’t for everyone it’s how many become successful in this country but it takes a lot of grit in order to achieve.

High Wage Earner

Specializing in your field of expertise or study is a great way to earn a good living and achieve financial success in the long term. For employees who are looking to climb the corporate ladder or receipt benefits from your company, this is how most American generate income and build their net worth in the long term.

Even though it appears like the road to the American Dream is diminishing, there are still ways to get ahead financially. If you strive and work hard it’s still possible, but with the way things are going you’re going to need to try a combination of things in order to be successful.