I still have the image of bumping into my dad as I arrived home from work about 10 years ago. At the time, we lived in the same building and I was passing him as I climbed the stairs to my apartment. We greeted each other and chatted. His paternal, parting question to me was "Is your income exceeding your expenses?" It hit me right in the gut. As a matter of fact I knew that more recently my expenses were exceeding my income. In response, I just smiled and continued up the stairs, left pondering and reeling from the blow.
I worked with my dad in my teens and early twenties. I helped with the bookkeeping for his company. I studied accounting and finance, earning degrees in both. I worked in related roles for Fortune 500 companies early in my career. Why - at the tender age of 40 - was this the first time this concept grabbed my attention? Simple concept and challenging for many, young and old.
To improve one's economic situation, income must exceed expense. And in my experience, to generate income, one must earn. There is no magic pill. The odds of winning a lottery are against you. You have yourself and your abilities - great assets. Work. Use your talents. Go out and earn!
