Did you know that you will make $2.8M in your lifetime and can still be broke?
I just Googled it and found out, the average household income in the US in 2020, by www.census.gov is $71,186. Multiply it with 40 working years. You have a whopping $2,847,440. Can you believe that? You are making $2.8 million in your lifetime and still worried about money. Did you ever wonder why? Why does it feel like every step forward, takes us two steps backward?
Here is the simple answer: the majority of your money, that you are making today, goes back to pay taxes and interest. Yes, 30% – 40% goes to pay for your taxes, which includes everything from buying grocery to annual tax filing. And 34% goes into paying interest on all the debts that you have, like your mortgage, car-note, credit cards, student loan to name a few.
According to money.com “You are going to spend $280,000 on interest in your lifetime.” And that is on the lower end. Money.com continues, “The Average American can expect to pay $450,000 in interest in their lifetime.”
Now, I want you to pretend for a moment that instead of throwing away that half a million dollars in interest, you are holding onto it, making it work for you. Just like the banks own their own debt, you create a system where you own your own debt. Now you ask yourself, “What will happen in the next 10, 20 or 30 years later?” You would perhaps say, “Not only I will have that extra $300,000-$500,000 with myself but I’ll also be making compound interest on that money year after year.” Do you think that will help you becoming debt-free and creating a perpetual passive income for life? You bet. And infinite banking can help you do that.
Stop the banks from keeping you in perpetual debt. Click the link below to book an appointment now!