I’m in Europe at the moment, and the situation with the Millennial demographics here is no different than in America. In both places, the jobs market is worse now than at any other time during the 20th century for the young people, climbing up the corporate ladder.
The reason is that these regions are plateauing in terms of excess returns. When I refer to this term, I mean the advantage these regions had over the rest of world was so overwhelming during the 20th century
that they could enjoy riches, above and beyond what society typically experiences, without groundbreaking innovation.
Competitive forces always pressure prices down.
Margins, profits, wages, salaries, bonuses, dividends, revenues, income and opportunities naturally shrink over time, excluding a barrier, a moat, which some businesses and individuals fence around themselves, to protect their wealth from these eroding effects. This is the elusive competitive advantage we constantly discuss.
For example, look at Altria group, the manufacturer of Marlboro Cigarettes, which enjoys both consumer loyalty (addiction) and favorable government regulations (keeping away would-be competitors), as a company that has found the magic formula to deliver extraordinary returns to shareholders over time.
This is one of the best-performing stocks of all times.
In the public markets, few businesses possess this “Efficiency Magic,” which put it on higher ground compared with the majority of stocks.
On a personalized level, individuals, who enjoy high income careers, by starting their own successful businesses or working for one, have specialized skills that are rare to find in others.
Their magic formula is not unique at all, in the sense that others may also develop these skills as well, but it is not a question of willpower, but of willingness to sacrifice and take time to improve on your craft.
Willpower is our internal tool to direct thoughts and to focus our attention on any given idea or subject. Willingness to use it is what separates high-income earners from the rest.
To make a fortune, you must realize that creating value for others requires tremendous dedication and effort. You must be willing to evolve and to be flexible with yourself and others, so that your results improve daily.
Many Asian countries, Eastern European ones, and what we used to call “3rdworld countries” are just not that primitive anymore.
In the next 20 years, these fast-growing nations will evolve to the point of no return, but you won’t enjoy this wealth creation unless you are positioned to do so.
In Burma, for instance, where cars are currently a rare sight, there will be high demand for new vehicles, but unless you have an angle to profit from it, you won’t.
In other words, the developed world, where you live, has fewer transformative opportunities, so wages are decreasing, which is why, for the most part, people with low-income lifestyles or people in retirement, should be considering secondary ways to generate revenues, outside of their jobs.
I want to inspire you to look at alternative ways to begin making part-time money, which will secure your future and make you less exposed to firings or the erosion of purchasing power over time of the Dollar and Euro.
FOUR INCOME STREAM MODELS: START IMMEDIATELY!
Portfolio Wealth Global has compiled some proven ways to get cash flowing into your bank account right now.
Examine this list to see how you can benefit:
- Searching The Web: If you’re using the internet, get paid to browse. There are many companies out there, who will pay you to sit and search.
You don’t need to do anything different. In fact, you can take your laptop to the beach, enjoy a sunset, and make extra cash.
- Taking Surveys: Another classic hack, which can earn you $35-$90 per website you use a month, and there are at least 10 reputable ones, includes filling out surveys.
- Dog Walking and Photography: I batched these two together because they involve easy outdoor activities, which are fun to do.
Personally, I’ve seen people take pictures of their hometown landmarks, for example, and sell hundreds of copies of them, online, on photo markets, like Shutterstock.com
- Test Sites and Apps: This is a great one, since you are getting paid to view other people’s ideas and voice your opinion.
But, on top of that, it can inspire you to come up with ventures of your own.
These four basic ideas are ways to start now, with virtually no learning curve, to make money, but during the month of August, I’ll also be sharing four additional ways to generate thousands of dollars a month, which require more effort and upfront expenses as well.
The key is to understand that the worst is not behind us – every dollar counts.
Research Partner, PortfolioWealthGlobal.com
This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.