The election is over, and President Obama has won.
What will that mean to your wealth?
You may have noticed that the market has taken a nose-dive since the election. Does that mean that everyone in the market will lose money? Most will, but others with specialized knowledge will make a ton of money while the masses get hurt.
So, where will things go from here? I have no doubt the election means that taxes will go up. Over time, taxes have an enormous impact on how fast (or slow) your wealth can grow. More taxes mean slower wealth accumulation.
So, you need to know how to shield your wealth from the government’s grab. My students know that there are legal ways of doing that. You should learn these ways (fast) before Uncle Sam decides to try to close that loophole.
What else? Taxes on capital gains (money you make from stock gains is one example of capital gains) will go up. That means you’re going to have to learn to improve your investment results just to keep pace.
And, here’s something else…. the value of money will continue to go down. In fact, the value of a dollar has gone down dramatically since 2008. Quantitative Easing (essentially printing money) causes existing dollars to lose value. And, that will eventually cause inflation.
So, again, you are going to have to learn to improve your investment results just to keep pace.
Are you concerned? You should be!
Look, I’m not being political here…I’m being a realist. You need to learn the skills to grow your wealth now so you don’t have that "deer in the headlights look" when it’s time to retire.
I want you to be able to live in abundance, but you need to be willing to get the skills to do that.
There are two important questions to ask yourself…
1. Where will you be financially three years from today if you keep doing what you are doing now?
2. Where will you be financially three years from today if you TAKE ACTION NOW, get the specialized knowledge you need, and start putting that knowledge to work for you?
Remember, the difference between succeeding or not is getting specialized knowledge, but first you have to commit to take action.