Proof the system wants you to be poor

How long do you think it would take someone to get out of poverty?

The answer: four generations.

That’s the answer for Australia at least. If someone is born into a low-income family, it would take four generations before their direct decedent’s were earning the average income.

And that’s a miserable statistic, but we’re actually doing pretty well. We’re slightly ahead of the OECD average, and streaks ahead of countries like Brazil, South Africa and Columbia.

What it shows is that the social mobility that capitalism promised us is a bit of a joke.

This idea that anyone who works hard can get ahead and be a tech-billionaire is just BS.

Where you are born has a huge influence on the trajectory of your life.

If you’re poor and work hard, the best you can hope for is that your children do a bit better than you do, and that your great, great grand children might be one day middle income earners.

Hardly inspiring is it?

And for me, it reminds me of just why I love property.

I mean, look at me. I wasn’t born into money. Far from it. But I’ve used the incredible wealth potential of property to make myself richer than my great grandfather could ever have dreamed of.

And I see it with my students all the time. We take people with little money behind them, no fancy degrees or certificates, and all the blockages and baggage that comes with growing up poor…

.. and we turn them into millionaires.

We’ve done it time and time again.

So I ask you, what are you waiting for?

If you’re waiting for the system to help you out – if you think that if you just keep plodding away you’ll be rich one day… forget it. The system is not designed to do that.

The system is designed to keep everyone in their place.

So stop waiting. Property offers you a way out.

It helped me. It’s helped hundreds of my students.

It’s all still there for the taking.

Spiro Kladis
Managing Director, Cashflow Capital

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