3 Financial Traps That Keep You from Wealth – And Practical Solutions to Break Them According to Financial Advisor Fiona Smith
Financial advisor Fiona Smith revealed that the current financial system is designed to keep you poor, but you can turn the tables by following clear strategies. Here are the details:
❌ First: Inflation Steals the Value of Your Money
Over 30 years, the dollar has lost half its value due to inflation
While the S&P 500 has achieved real gains after inflation of +840%
✅ Solution: Start investing, even with small amounts. Stocks, ETFs, and real estate outpace inflation over time
❌ Second: Financial Blindness from a Job Only
Relying on a single income from a 9 to 5 job makes you miss huge financial opportunities
✅ Solution: Build multiple income sources (a side business, stock dividends, passive income from real estate) some people earn passive income exceeding $55,000 annually
❌ Third: A Tax System that Rewards Investors, Not Employees
A job income of $100,000 is taxed at a rate of 37%
While investment profits on the same amount are subject to a tax not exceeding 20%
✅ Solution: Take advantage of tax benefits through retirement accounts and long-term investments
✅ How to Break These Traps?
💼 Invest early, even with less than $100
📊 Utilize tax laws to your advantage
🏠 Create passive income sources (real estate, dividends)
#YE_SANAA 🇾🇪