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How Wealth was created 1970 to 2022

How wealth is created in 2022 or 1970. 

The US suffered significant inflation through the 1970's.  The Oil Embargo and taking the US off the gold standard changed the US and the world economy.  We have seen several bubbles and crashes since then. 

My view is in order to go from poor to middle class and beyond you must invest in assets.  I chose Rental Real Estate and it worked very well for me.  One of my brothers chose Stocks and it worked well for him also. 

The people of the US still have the most potential in the world for financial mobility.  In other words, it is the best environment available to go from poor to middle class to wealthy.  

How to Become Wealthy

You do not have to make a lot of money to become wealthy. You have to invest in assets that increase significantly in value.

What is the F.I.R.E. Movement?


The FIRE (Financial Independence Retire Early) movement is a large group of people that are working toward retiring at a young age. They have an active forum with a lot of good advice on the steps to take to become independent. In this case independent means you can quit your job and semi retire if you want.


Why I like Rental Real Estate

Yes being a landlord has issues however being broke forever is an ugly issue also. The Rental Real Estate I bought always made the payments from the rent. If the rent did not cover the payment I would not buy it. Check out Rental Real Estate Advantages. One of the most common Real Estate financing options is using a HELOC.

I Believe in Inflation

I am not a financial advisor. However from my Father's youth to his old age house prices went from less than $10,000 for a average house to $300,000 for a medium house. In my adult life average house prices have gone from $20,000 to $350,000. My first rental apt was $60 a month in 1974. That same apartment now is over $1000 per month.

My suggestion
Buy a rental property that makes its own payment and let inflation work on the value of the rental and the price of the monthly rent.

Bigger Pockets
Online podcasts, books, videos produced by Bigger Pockets have great advice on owning rental properties, Airbnb, and anything real estate. I strongly recommend them. They have a youtube channel that is awesome.

Does Delayed Gratification help you become rich?

Delayed gratification is the first step most people take to become wealthy. Delayed gratification refers to the ability to resist the temptation of immediate pleasure or reward in order to invest for a greater reward or goal in the future.

For example, instead of spending money on expensive gadgets, clothes, or vacations, you may choose to save and invest that money, which can help you accumulate wealth over time.

Delayed gratification can also help you develop better financial habits, such as living below your means, avoiding debt, and sticking to a budget. These habits can help you manage your finances effectively and build wealth over time.

Ultimately, becoming rich is not just about earning money but also about managing it wisely. By developing the ability to delay gratification and making smart financial decisions, you can increase your chances of becoming wealthy over time.
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