Numbers Matter… Duh

Over 10% of the US population live in poverty and likely have been for generations. Another 30% aren’t living much better. There is so much to be said about systemic racism, social welfare reform, and the many steps our civilization must take to fix the financial misery and trauma so many millions live with every day.

About 100 million people in the U.S. live in households with income over the poverty line and below the median income. 100,000,000+ people are reaching for that elusive status of “well-off” and fighting to avoid the undesirable label of “poor.” Among them are millions who have thrown their hands in the air and reluctantly accept being “okay.” Most of these people do not meet the experienced investor base level to start investing.

I do not have a broad solution, and I will not be unrealistic. People who live in poverty or use social welfare programs are not in a position to invest money. I do not subscribe to the bootstraps method to social and economic advancement, and I definitely will not say a few well-timed investments will launch you into a higher economic class. Experienced investors would advise you not to invest money you would use for housing, food, and other basic needs, have all your credit cards paid off, and have an emergency fund to cover several months of costs.

I have a different idea. Start investing! Opening a brokerage account is easy, and many don’t have fees. With $1.00, anyone can start investing. See and learn the value of compounding interest that works for you. Of course, debt management is essential and should not be ignored. The shift from a debtor mindset to investor mindset does not happen the instant you pay off your last credit card or loan. Commit a small part of your monthly income to future you. Start making money conversations a positive, hopeful experience.