Some Americans Are Rich (But Most Aren't)

Some argue that economic "winners" and economic "losers" share the same habits. That claim is false, with two exceptions. [Shield] AN OXFORD CLUB PUBLICATION [Liberty Through Wealth]( [View in browser]( SPONSORED [The #1 Energy Passive Income Investment for 2023]( It's not a stock, bond or private company... But this little-known alternative investment could hand you BIG MONTHLY INCOME from the oil and gas surge in 2023. [CLICK HERE TO FIND OUT WHAT IT IS]( EDITOR'S NOTE Please, do yourself a favor... Do NOT ignore what I'm about to tell you. This week at the office, [we've been all-hands-on-deck searching for the best way for you to play this unprecedented opportunity for yourself](. And I'm happy to report, we've found it. [You can get a closer look right here...]( But if you want a shot at the biggest gains, you'll need to hurry. Because while it's [currently trading for less than $10](... [Our research shows it could rocket to $50]( - or higher - in the months ahead. - Nicole Labra, Senior Managing Editor THE SHORTEST WAY TO A RICH LIFE [Why Some Americans Are Rich (But Most Aren't)]( [Alexander Green | Chief Investment Strategist | The Oxford Club]( [Alexander Green]( Do we really know why some Americans get wealthy but most don't? Indeed we do. Most people in this country with a net worth of a million dollars or more were not born with genius-level IQs. They did not have superb connections. And they did not receive large inheritances. More than 80% of them followed the same proven principles of wealth creation. These principles, while unknown to most, are easily understood by anyone of average intelligence. You can learn more about them here - and in [The Next Millionaire Next Door: Enduring Strategies for Building Wealth]( by Dr. Thomas Stanley and Dr. Sarah Stanley Fallaw. Yet some critics - especially those who insist that wealth creation is primarily about good luck, good genes or good connections - claim that Stanley's and Fallaw's work is not valid because of "survivorship bias." The critics argue that economic "winners" and economic "losers" actually share the same habits, but Stanley and Fallaw didn't notice this because their research focused exclusively on the affluent. That claim is demonstrably false, with two exceptions. SPONSORED [100% in 6 Steps - That's It!]( [100%]( Want to see how to target stocks with seemingly IMPOSSIBLE 100% yield potential? Plus, how to build a well-balanced Perfect Dividend Portfolio that could pay you every single month? It's a quick six-step process that's very easy to implement. And it includes the exact criteria I look for when trying to identify a potential 100-percenter. [Here's My Six-Step Process]( Let's start by identifying the habits of most wealth accumulators. In The Millionaire Next Door: The Surprising Secrets of America's Wealthy, Stanley listed seven common attributes of self-made millionaires: - They choose the right occupation. - They live well below their means. - They allocate their time, energy and money efficiently, in ways conducive to building wealth. - Their parents did not provide economic outpatient care. - They believe that financial independence is more important than displaying high social status. - Their adult children are economically self-sufficient. - They are proficient in targeting market opportunities. Overwhelmingly, economically successful individuals make choices and develop habits that create and build wealth. These habits include integrity, optimism, ambition, persistence, resilience and frugality to name just a few. There are plenty of people with little or no money late in life who embody many of these virtues, of course. But in most cases they either failed to develop the skills to earn a higher income or were unwilling to live beneath their means. (As I've mentioned in previous columns, if you make an annual contribution of $5,500 to a Roth IRA - just $458.33 a month - and earn nothing more or less than the 10% average annual return of the S&P 500, in 30 years you will have a million dollars, tax-free.) Is it possible that someone can follow the traditional path to wealth creation - maximizing income, minimizing outgo, and religiously saving and investing the difference - and not end up wealthy decades later? I would argue no, but with two exceptions. The first is people who got derailed because of unfortunate or unforeseeable circumstances. Maybe they were called up to war. Or suffered a debilitating accident or disease. Or maybe they just married the wrong person. (A divorce can turn a million-dollar net worth into a $500,000 one real quick. Or a $10,000 net worth into a $5,000 one, for that matter.) These people were on the right path - and may still be - but got at least temporarily deflected by circumstances beyond their control. The other exception is folks who do everything right - educate themselves, work hard, pay taxes, save diligently, etc. - but then blow up their investment portfolios... or turn them over to someone else who does. For example, I played tennis with a guy who fell into this latter category. Born into modest circumstances in New York, he started his own business, worked hard for decades, became economically successful, then retired about 15 years ago. He went to a major brokerage firm, told his new advisor that the money he was giving him was the result of a lifetime of work and all he had. His investment goal was just a modest return with preservation of capital. His broker told him he understood completely. He then put his entire portfolio into structured notes, ones that allowed him to share in the upside of the S&P 500 but with a principal guarantee. That sounded reasonable. After all, the S&P 500 is a diversified, blue chip investment. Throw in a principal guarantee and what could go wrong? In this case, everything. The issuer and guarantor of the notes was Shearson Lehman. And when the company descended into bankruptcy with lightning speed during the financial crisis, the notes quickly became worthless. My friend did get a quarter of his money back years later. He sued the brokerage firm and received a settlement equal to half his original investment. His lawyer took half of that. Telling me this story, he shook his head and told me he is still retired... but living a lifestyle that is a quarter of what he expected. This story is by no means unique. Plenty of financial advisors have torpedoed their clients' portfolios. Tens of thousands of other individuals have committed financial hari-kari themselves. That is always a heartbreaker. There are few financial tragedies worse than losing your life savings near the back end of your life. That's why it's always important to focus on risk as well as opportunity. Good investing, Alex [Leave a Comment]( [IU 2024]( WEALTH OPPORTUNITIES - [Proof: New "One Ticker Payouts" (You Can Do This Weekly!)]( - [Half-Dozen Billionaires Load Up on Profitable $12 Energy Company (It Pays a Nearly DOUBLE-DIGIT Yield)]( - [How to Read a Stock Chart (and Sharpen Your Thinking)]( - [The 2 Ways to Profit From Earnings Season]( JOIN THE CONVERSATION [Facebook]( [Facebook]( [LinkedIn logo]( [LinkedIn]( [Email Share](mailto:?subject=A%20great%20piece%20from%20Liberty%20Through%20Wealth...&body=From%20Liberty%20Through%20Wealth:%0D%0A%0DSome%20argue%20that%20economic%20%22winners%22%20and%20economic%20%22losers%22%20share%20the%20same%20habits.%20That%20claim%20is%20false,%20with%20two%20exceptions.%0A%0D [Email Share](mailto:?subject=A%20great%20piece%20from%20Liberty%20Through%20Wealth...&body=From%20Liberty%20Through%20Wealth:%0D%0A%0DSome%20argue%20that%20economic%20%22winners%22%20and%20economic%20%22losers%22%20share%20the%20same%20habits.%20That%20claim%20is%20false,%20with%20two%20exceptions.%0A%0D MORE FROM LIBERTY THROUGH WEALTH [Chevron Sign]( [Why Is Chevron Buying Hess?]( [candlestick graph]( [The Power of Technical Analysis]( [AI Health]( [The Biggest Medical Breakthrough Since Antibiotics]( [Human evolution]( [Why Human Progress Will Soon Go Into Overdrive]( SPONSORED [Monthly Passive Income (Only $25)]( [Passive Income]( Have you seen [this strange monthly income investment]( It's NOT a stock, bond or private company... It has NO age requirements... You do NOT need to be accredited to participate... And you can get in for as little as $25. [Find Out What It Is Right Here]( [The Oxford Club]( You are receiving this email because you subscribed to Liberty Through Wealth. Liberty Through Wealth is published by The Oxford Club. Questions? Check out our [FAQs](. Trying to reach us? [Contact us here.]( Please do not reply to this email as it goes to an unmonitored inbox. [Privacy Policy]( | [Whitelist Liberty Through Wealth]( | [Unsubscribe]( © 2023 The Oxford Club, LLC All Rights Reserved The Oxford Club | [105 West Monument Street](#) | [Baltimore, MD 21201](#) North America: [877.806.4508](#) | International: [+1.443.353.4610](#) [Oxfordclub.com]( Nothing published by The Oxford Club should be considered personalized investment advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed personalized investment advice. We allow the editors of our publications to recommend securities that they own themselves. However, our policy prohibits editors from exiting a personal trade while the recommendation to subscribers is open. In no circumstance may an editor sell a security before subscribers have a fair opportunity to exit. The length of time an editor must wait after subscribers have been advised to exit a play depends on the type of publication. All other employees and agents must wait 24 hours after publication before trading on a recommendation. Any investments recommended by The Oxford Club should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company. Protected by copyright laws of the United States and international treaties. The information found on this website may only be used pursuant to the membership or subscription agreement and any reproduction, copying or redistribution (electronic or otherwise, including on the world wide web), in whole or in part, is strictly prohibited without the express written permission of The Oxford Club, LLC, 105 West Monument Street, Baltimore, MD 21201.