084 Financial Excellence: You Can Be in the 1%

Living In Financial Excellence

01 Nov 084 Financial Excellence: You Can Be in the 1%


Financial Podcast for budgeting, debt free living and investing

Episode 84: You Have the Ability to be in the 1%, Oct. 18, 2011.

Today I had hoped to get Reverend Elijah on the show to share the story of his childhood in Uganda. Before he was six years old, he was abandoned, poisoned, and kidnapped to be sacrificed by a voodoo witch doctor (three separate events). As a teen he was ready to commit suicide until he found a church and converted to Christianity. Now he’s the founder of Living Hope Uganda, a ministry that not only feeds hungry people, but teaches them the skills to earn income for their families and change their economic future. Learn more about Living Hope Uganda at www.livinghopeuganda.org.

Anywho, Occupy Wall Street has been in the news, but what are they trying to accomplish? Are they mad at rich people for figuring out how to build wealth while the so-called 99% didn’t? Are they just mad in general? Do they expect wealthy people to give them money? Read the show notes below to see what I actually did talk about this morning.

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Show notes:

Matt & Janelle Recording the Financial Excellence Podcast

  • I was raised in an environment where if you didn’t like your situation, it was up to you to change it. Not the government. Not your employer. Not the rich people. YOU.
  • I don’t make a lot of money, but I feel a lot closer to the 1% than the 99%. I don’t think redistribution of wealth is a good thing. I believe that was tried in many communist countries and it failed miserably. Look at how many people risked their lives to escape East Berlin when the Wall was still up. They risked it all (and many died) to have a taste of live on the capitalist side, where they had opportunity.
  • America is still the land of opportunity. If you don’t believe that, you should read Scratch Beginnings by Adam Shepard.
  • Stacey wrote in with a question about whether you should invest 15% of your gross income or net income.
  • Matt wrote in with a question about the current GOP presidential candidates’ financial plans for the country.
  • You can influence what we talk about in future shows. Simply fill out this three-minute survey.

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6 Comments
  • Barb Friedberg
    Posted at 18:37h, 02 November

    Matt,I was also raised with the pull yourself up by the bootstraps method. But I also realize that life is not fair to all. White males have an economic leg up on everyone else, and there are also many societally sanctioned prejudices. Some cannot afford to get through college for whatever reason, so it’s tough to make broad generalizations since the playing field is uneven.

    • Matt Wegner
      Posted at 18:44h, 02 November

      Good points Barb. I agree the field can be uneven but I’m also amazed at the people who succeed against all odds, compared to those who have the advantage but never seem to get ahead. I appreciate your comments as always 🙂

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  • Aaron Hung
    Posted at 08:41h, 10 November

    It’s hard especially when you don’t have a lot of money and that you think the world is against you, but the thing with this country is that you can make it if you work hard and that’s all it is. I see a lot of homeless people standing on the street asking for change and it makes me wonder why aren’t they doing something about it? why don’t they at least try to get help?

    • Matt Wegner
      Posted at 20:47h, 10 November

      I agree Aaron. I think many of them are trying but there are definitely a lot of people who aren’t putting forth much effort.