It is widely assumed that boomers, or even Gen Xers, had better opportunities to buy a home, and that they paid off their homes much faster before, and that even the minimum wage covered more.
Build a good credit history, get a department store or credit card and pay your bills on time. Renting can be the first step before getting your own home.
This is especially and lovingly dedicated to generations X, Y, Z and those to come. I happened to be part of generation Y.
I am convinced that one can be lucky, but one makes one's own fortune. Likewise, here in Mexico we have a saying that is, "he who is a parrot everywhere is green," which means: He who is good at something, is good at it always and everywhere.
One day, during a presentation, my student objected to me that one cannot have savings, an emergency fund, investments, a second income, or retirement savings at the same time.
And he does have the opportunity to have a more dignified retirement because he was born about 18 years before me. He saw the Mexican peso devalue in the 80s, the 90s, the country's debt in the 90s and the 0s.
I told him that I agree that the situation is very different for one person or another, but this is ideal for a person to have robust financial health.
We have the opportunity to get rich faster because fortunately we have more access to information and the opportunities to make money are more diverse.
I don't deny that there are places where it is harder to get rich, or that circumstances make it harder to get what you want. I am not a proponent of thinking that if you are poor it is because you want to be, because I have witnessed very challenging things in different places in my country, including where I live, and I have learned about many things that happen around the world even without having left my country yet.
However, I firmly believe that any person who respects himself and is serious about the dream of leaving the favela should look for the "how." Being born in certain times gives you certain advantages. Before, for example, perhaps a very noticeable advantage was that there was less competition. Today, we are competing globally.
There are many and countless stories of people who started from scratch, and I know that not all of us start from the same place, but that is what makes it interesting. We must always use our circumstances and the advantages we have, the contacts we know, the skills we have to get to where we want to go.
And adding an ingredient that makes it more explosive, discipline, without fear, for me this implies having an agenda and sticking to it.
I heard that in Japan there are 3 imperial treasures:
The sword, basically weapons.
The jewel, the money.
The mirror is knowing yourself.
The mirror for me is the most valuable, since by knowing yourself you can know how to use your abilities for an important purpose, the others for me are a consequence.
Returning to the topic of the house, start by having powerful finances, focusing on a lifestyle that you can afford: having income to eat and support your dependents, pay your debts, savings, emergency fund, second income, retirement.
In whatever order you want, the important thing is to be adaptable to what suits you and understand that what is convenient for me may not be convenient for you at this moment. And that there are times when tasks and goals cannot always be completed on the same day but are carried out in steps or partially.
Remember that a budget may be limited, but income can be unlimited.
I recommend that you listen to and pay attention to the lyrics of the song "Reproches al Viento" live by "La Arrolladora banda el LimĂłn" or "Los Invasores de Nuevo LeĂłn", it is an anthem to ambition and an incentive not to give up.
My cryptos for investment of the day:
$TON has a great future as it represents a very powerful and avant-garde App, Telegram.
$OM a project that is intended to make transactions safer in Web3, mainly intended to allow businesses to have their transactions comply with regulations according to the applicable law in the country.
For trading my favorite this week is:
$TRU since it has had some very interesting moves these last few days.
Invest in your future, invest today!
