During times of recession or massive economic change its never the wealthy who suffer most
It’s the poor and middle
income people who bear the brunt. Its easy to see why
In a high income household there is more disposable wealth after all the normal expenses are accounted for
In other words expenses are a smaller proportion of income for wealthier people
So if say a business has a bad year or one income is lost from a dual income household through redundancy (an increasingly common situation these days)
The effect on low to middle income earners is much worse, possibly devastating. Whereas higher income earners are more able to weather the storm
In fact because they have savings, investments and other forms of residual income, they are able to adapt, re-invest and actually become wealthier
This is the basis for Robert Kiyosaki’s world famous book Rich Dad,Poor Dad
And it
all starts with mindset - whether you start from wealth or poverty.
Studies have revealed some mindset differences between successful people and unsuccessful people that are quite fascinating
I shot a video on this a while back which you can watch on the link below
<<<<<<Abundance Mindset Vs Lack Mindset>>>>>>>
Feel free to leave me a comment if you like it
Cheers!