Learning to Manage Money

Is Beating the Median Income Levels Keeping You Poorer Than You Should Be?

As a stats junkie, I like to know what the income level statistics are, and in particular the household incomes ($50,500)! I like to know how far I am above that amount, and percentage that we (as a household) bring in!  But if you are like me, is beating the income averages keeping you poorer than you should be?

What do I mean by “Is Beating the Media Household Income Level Keeping You Poorer than you should be”?

Basically I mean are you setting your financial income goals too low?  After all, is the median income levels really that hard to beat?  I use to compete against the middle income level as a gauge as to how well I was doing, especially when I first got out of college.  But why was I competing against the middle of the country, when just by graduating from college, I’m doing better than 75% of the country?  So the fact that I was comparing myself against the median income levels didn’t really make much sense considering all of the other factors about me (and you too, if you are reading this post…  I’m willing to bet you shouldn’t be comparing yourself against the median income levels either!)

The Thinker

Why Beating the Median Income Levels Might Be Holding You Back

I now think that a lot of us get complacent and think “Oh, I’m beating the median income statistics, that’s good enough”, and slack off and do mindless activities that doesn’t benefit themselves or society (like watching the Kardashians… etc).  This is the wrong attitude and a huge waste of life.

The liberal media groups and certain educators demonize those that try to get a head of the the median/average income levels, but this is not correct either.  There is such a thing as critical mass where until that mass point is met, everything is in limbo, but to do explosive, creative, society benefiting things, you need the critical mass equivalent in money and hard work (be it intellectual or physical)!  Without the correct ingredients or elements, a masterpiece doesn’t happen!

Where would be we if Henry Ford didn’t strive to create an automobile that the average person could afford (biking anyone)?  Why do you think he worked as hard as he did?  Do you think you work that hard?  I know I don’t, but I should…

I’ll be honest and say that I’ve wasted time thinking that I was doing better than the average income level and could drift for a while, but now I realize that the average income level isn’t my competition… It’s just a middle point number that doesn’t represent me or you!

If you (like me) want to be stuck on competing against a statistic, go for the top 5% of income level!  At least at this level it’s more of a challenge.  If you are already at the 5% level then try to make the jump to the top 1% level.

The key is to keep creating and innovating, in that way, you can increase your wealth and hopefully contribute greatly to society!

 

5 Responses to Is Beating the Median Income Levels Keeping You Poorer Than You Should Be?

  1. What should you compete against now? Once you beat the median income, is the next goal to get into the 1%, which is making something like $325,000/year. I don’t know the exact number but I know it is in the 300k’s.

    • Competition is a great thing, it makes society advance and is something of honor. That’s why the Olympics and all types of sports are so popular.

      So why not shoot for the next level or milestone? Why not try for the top 1% in income, or even the top 10%? (Both of which I haven’t accomplished yet).

      What I’m saying is that when we aim low and accomplish the goal, we underachieve. If we aim high and maximize life (and money) we live a fuller life.

      Tell me achieving doesn’t beat staying at home watching the Kardashians live their lives, while other watch them?!?

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