Episode 275： The Only Solution To Beating Inflation & Unemployment
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Summary
In the 80s, if you made six figures, you drove a 7 Series BMW, you lived in a beautiful lavish home, and went to nice restaurants. Today, making six figures means you live in a 1500 sq ft home and you drive a seven year Toyota Corolla.
Transcript
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30 seconds, one time for the underdog, ignition sequence start, let me see you put em up, reach
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the sky, turn the stars up above, cause it's one time for the underdog, one time for the
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I'm Patrick Bedeb, your host of Value Team, and today we're going to talk about why it's
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so important for you to be making a quarter million dollar year income.
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That magical six figure number that was a big deal in the 80s with bank rate, I'm going
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to add the link on the bottom, said in the 80s if you made six figures, you drove a seven
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series BMW, you lived in a beautiful lavish home, and you went to nice restaurants, life
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was good, and today making six figures means you live in a 1500 square foot home and you
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drive a seven year Toyota Corolla is what it's saying, right, today, now it's obviously an
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example, but you think about it, coming out of high school, coming out of college when
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we don't have a lot of expenses yet, we're not married, we don't have kids, we don't
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have a mortgage, we haven't bought diapers yet to know how much it costs, we don't know
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how much life costs, right, and then you graduate from college and you have payments you got
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to make to school, all this other stuff, reality really sets in on how much life's going to
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cost, but everybody who comes out, most people want to strive to get that six figure income.
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I want to give you some numbers that shows you what six figures in 1980 means today, just
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to share some numbers with you that I got from the U.S. Census Bureau.
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Here's some of the numbers. In 1980, if you bought a stamp, it cost you 15 cents, today's 49 cents,
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that's an increase of 226%. Dozen eggs, 48 cents, today $2, increase of 316%. Bacon, listen to
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bacon, a buck 20, I know a lot of people that love bacon, today bacon is $6.11, that's an increase
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of 409%. A house, to buy a house in 1980, the average house, according to U.S. Census Bureau
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was $62,900. You know what the average house is today? $280,900. That's an increase of 346%
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is what we're talking about. To buy a house, same exact size house, average income in 1980
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was $17,710. Today, the average income is $53,891, an increase of 204%. So if we go based
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on these numbers that we're sharing, a $100,000 year income in 1980, today is a $400,000 year
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income. $400,000 year income. To be able to afford the luxuries of all of these numbers that
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increase on a minimum of 200%. Let me give you some more numbers here. Six figures used
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to be a big deal because only 2% to 3% of people used to make $100,000 year in the 80s. Today,
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according to the Census Bureau, 22% of Americans' households make over $100,000 year income. Only
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2% makes over a quarter million dollars. Our president wants to tax people over a quarter
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million dollar income because he considers that a rich family, somebody that's making good
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money. A quarter million dollar income, it's only 2%. See, life is getting more expensive.
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According to U.S. Department of Agriculture, do you know what it takes for a parent, a husband,
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a wife to raise a kid from the day they're born to 18 years old, not including college? You know
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how much it costs? $245,340 per child. Per child. If you have two, that's a half a million dollars. If
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you have three, that's three quarters of a million dollars is what we're talking about. And someone's
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listening to this and saying, how are people even making it? Well, that's the real question.
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How are people making it with six figures? How are people even doing it with $150,000 year income?
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Now, you may say, well, a quarter million dollar is not even a big deal in places like New York,
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you know, LA or Chicago. I would agree with you, but I'm generally giving you a number on a quarter
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million dollar flat out across the board. That's the new six figures. So, if you're watching this
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saying, well, how am I going to be making a quarter million dollar year income? At my job, I make 73.
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You know, my spouse makes 38. You know, we make $111,000 a year between the both of us and we have
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two degrees and I'm paying $73,000 on my degree and she's paying $68,000 on her degree. We're
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making all these payments. We're making the Sally Mays. This, by the way, this is real life.
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We're concerned about having kids. Maybe we don't want to have more than one kid because
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if we have one kid only so we can at least take care because what's a nanny going to cost? What's
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this going to cost? What's that going to cost? Cost of living is going up. So, you're asking the
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question, great, all of this sounds good. How do I make a quarter million dollar year income
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household? Well, if you generally look at what industries pay a quarter million dollars,
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if you Google it, you can look at it for yourself. I have a couple of links on the bottom for
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you to look at. It's typically medicine, money industry, and computers. Medicine, money industry,
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and computers. Software, things like that. Medicine, you got to go for 12 years to be around
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the quarter million dollar year income, which means another $300,000, $400,000 a day. Money,
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you just need some licenses to get into it, whether it's real estate, financial insurance,
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it doesn't matter, money industry. Then you have the computer program in which you may need
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to have a software engineer, eight years, go to certain schools to do that. These are things
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that you ought to ask yourself because the true alternative on why immigrants like myself,
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why America still leads all countries in the world for having 40 plus million immigrants
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that come to America is because of the free enterprise system. Because you and I, with or
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without a degree, we can go out there and start a business, be an entrepreneur, based on our pure
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efforts, make the kind of an income we want to make. If you need to make a quarter million dollar
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year income, you can make a quarter million dollar income. It doesn't matter. As an entrepreneur,
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you control your income. But my challenge to you would be, if you're watching this video,
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maybe you're watching with your spouse, maybe you're going to replay this for your spouse to
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watch it. Maybe you're going to have your kids watch it, your mom and dad watch it, your friends
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watch it, you're going to share it with somebody. But I would tell you this, my challenge to you
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would be, have an action plan to go over a quarter million dollar year income. I would have that in
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place. And for some of you that are watching saying life is not all about money,
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I don't know if you have kids. I don't know if you raise kids. I don't know if you know how much
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diapers cost. I don't know if you know how much food costs for kids and how much private schoolers
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are, you know, sending them to get a nanny or having somebody take care of them, babysitting or
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clothes and them getting sick and going to the doctor and health care and car payment, car insurance,
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you know, debt and, you know, parties and birthday events and all these birthdays you're invited to,
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all these weddings you're invited to, you know, all these gas, miles, driving, food, utilities,
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phones, internet, cable, electricity, you're starting to get a trend of it. That's real life.
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And I think if we really want to make America pay off our $80 trillion of unpaid debt, which is
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our $18 trillion of national debt that we have, then our commitments that we have for Medicare,
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Social Security, Obamacare, all this other stuff, there's only one place government gets money from.
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Government doesn't make any money outside of from private sector who creates money for them to
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do programs such as build roads, public schools, et cetera, et cetera. If we really want to help
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pay off the debt for our country, which is a country we represent, we all need to pay a portion of that
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to cut it down for all of us. We'd love to have our national debt be zero because that's our credit
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as a country. I believe we all need to make an effort to make more income. And if we want to have
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a better income for our life, quarter million is the new six figure of your income.
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Thanks everybody for listening. And by the way, if you haven't already subscribed to
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Valuetainment on iTunes, please do so. Give us a five star, write a review if you haven't already.
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And if you have any questions for me that you may have, you can always find me on Snapchat,
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Instagram, Facebook, or YouTube. Just search my name, Patrick VidDavid. And I actually do respond
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back when you snap me or send me a message on Instagram. With that being said, have a great