Make $100k+ on Reddit r/povertyfinance

Financial health is key to your wellbeing. Get the bag.

From time to time I will browse on reddit to see if I can provide a stranger with some helpful guidance that I learned from my own experiences. One of the reddit pages I have started to explore is r/povertyfinance where a lot of people who are struggling either vent or ask for direction with specific issues. It takes me back to the days I also had to grind to be in the position I’m in today.

My philosophy is that success is made in providing a benefit to others. The more beneficial you are and to what scale (meaning the number of people or depth of impact) the more valuable you become. My biggest gains have been in investing and not a salary. Although a salary is nice, more important is the ratio of debt/expenses to income. That is where the fun of managing money happens and risk can occur.

When it comes to financial health, when someone is in poverty, it has to be addressed before making almost any lifestyle improvements. My story is that at 17 years old I had to learn how to build my life while being mentally, emotionally, and financially broke. As lucky as I was to receive help in ways of therapy, food stamps, and community support, there are those who struggle even more than I did. I would always recommend for someone to first take care of the main aspects of life: Food, Shelter, Clothing, and Healthcare.

Thankfully in America we have resources for this depending on the severity. Someone can easily get on food stamps, seek shelter and clothing from Salvation Army and get on Medicaid. This will at least allow basic health coverage, meals, and a permanent address to get a job and start working. Believe it or not we are actually in a hiring crisis in America as well so it is easier to get a job with enthusiasm, honesty, respect, and a sense of gratitude. People will be surprised how much a good mentality will improve life situations. If someone is need of medication they can also meet with a psychiatrist utilizing their free insurance as well.

Today I browsed r/poveryfinance and stumbled across this from an undisclosed user. They said:

Making 6 Figures a Year Doesn’t Seem Possible

I often see people on here or in real life that makes 6 figures plus and I always think “man $100k+ a year sounds impossible the way my life is going”

I would be happy to make just $60k a year.

Everyday, My hopes of living a comfortable life are slowly going down the drain.

Does anyone else feel like this?

My thoughts before responding:

Well, they may be right. It may actually be impossible to earn that money the way their life is going. Having a goal does not determine our probability of achieving it but rather the system we have in place to attain that goal determines the likelihood of attaining it.

One must also make sure to have correct aims because some goals do not equate to the type of value one is seeking. For example, a school teacher is unlikely to make 200k, however, they may produce far more monetary benefit by teaching students who collectively earn millions by their contribution to society. Often that sort of influence is far more rewarding than making 100k in a year.

It may be that they are currently not doing anything productive enough to earn 6 figures. One thing is for sure they are not providing enough benefit to others worthy of that kind of money. You can feel however you want about your situation but money talks. It is good to start with self awareness of the current situation so you can assess how you want to move forward.

To quote someone far more successful currently than I am, Ray Dalio has the most concise approach to cultivating the life you want:

Step 1. Have Clear Goals

Step 2. Identify and don’t tolerate the problems that stand in the way of you achieving your goals.

Step 3. Accurately diagnose the problems to get at their root causes.

Step 4. Design plans to get you around them.

Step 5. Do what is necessary to push these designs through to results.

That is probably the best way to say it. I had my own process and continue to refine from time to time in order to achieve my goals. I also have goals that are malleable because I will often learn more when diagnosing my problems that change my perspective of my goals. For example, I wanted to launch a pre-workout for RAAM! Then I realized that every influencer and their brother launched the same product and it isn’t a necessary supplement to helping people be their best. This meant I had to redesign my plan in growing the business. I instead decided to develop an app to help people with their system to achieve their health and wellness goals that was aligned with my company’s structure. This way I didn’t waste money on selling products I didn’t believe in only to get revenue so I can create the ones that I do believe in. It is probably best for me to start with what is true and grow from there even if it means forgoing certain ways to grow the business. It is tough but a fact I learned about my own principles by starting other businesses that failed.

My response to r/povertyfinance post:

Best of luck to you & your journey.