Your economic future is not going to be determined by the economy, but rather your own philosophy. I (Jom Rohn) had one woman chastise me severely. She said, “Mr. Rohn, you can’t promise young people they can become wealthy and financially independent. It’s just not in the cards these days. It takes everything a person makes just to keep his or her head above water and the wolf away from the door.”
I said, “No, that’s not true.” She said, “It is true. You can’t offer hope to all the people who listen to you, telling them they can become financially independent… especially children. They’ll be sadly disillusioned. It’s not in the cards these days.” I said, “Gosh, I wish I could persuade you otherwise.”
So I decided to use this illustration. I asked her, “Can you think of a couple right now who makes five thousand dollars a month?” She said, “Yes, if I think really hard, I could come up with a couple who makes five thousand dollars a month.”
I said, “What would they tell you it takes just to keep their head above water and the wolf away from the door?” She replied, “They would probably say, ‘All of it. It takes five thousand a month.'”
I said, “Could you think of a couple that makes five hundred dollars more than that a month?” She said, “Yes, if I thought for a while, I could probably come up with a couple that makes that much money.” I said, “What would they tell you it takes just to keep their nose above water and the wolf away from the door?” She replied, “They’d say, ‘All of it.'”
I said, “Now if it takes all of it, how do you account for this extra five hundred dollars?”
Here’s what happens. There are errors in judgment when it comes to economic philosophy. Many people think it’s the economy, but it’s the philosophy. And if the second couple saved their extra five hundred dollars and lived like the first couple on five thousand, that five hundred dollars a month–invested over the next fifteen years–would make them financially independent. The difference is not your paycheck. The difference is your philosophy.
* Source: Leading an Inspired Life by Jim Rohn