The Rat Race Explained - Life's Financial Trap

The rat race starts sometime after you are done with college. You get your first job which pays decently enough to allow you to buy your college dreams. For some, the first dream would have been to get a 72-inch plasma TV or a 152-inch one, if you are a big dreamer. So you buy your TV. Next dream on the list might be a car. So you get yourself a functional car as you wait to buy the car of your dreams. At work, you grind harder; get a promotion and a salary raise. This means that you can now afford to move to a slightly more expensive and fancier house so you do.

#TheRatRace

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DISCLAIMER: I’m not a financial adviser. These videos are for educational purposes only. No official financial advice is being given. Please always check with a professional before making any investments or financial decisions. Your investments are your sole responsibility, these videos merely share my own opinions with no guarantee of gain or losses.

[PracticalWisdom]

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[IdiotsTalk]

Now imagine Steve working long hours and still not making any real money... Welcome to the real rat race.

[TimErwin]

So true. Robert Kiyosaki said it best when he said most people use their money to "invest" in liabilities that they think are assets. Fancy cars, big houses, and shiny things that constantly take money out of your pocket without giving any back. Then people feel trapped and think it's just because they need a better job.

[Kev]

“A job is much safer than trying to start a business, ” said Steve, before he received notice that he was being laid off because his job was outsourced to India.

[ZHP]

Even if you win the rat race.... You're still a rat

[KOBUN]

Then the asteroid hit the earth rendering everything to dust, wiping out everything anyone thought was important. Being an insignificant speck, the rest of the universe didn't notice.

[obrecht]

This whole video sounds like a sales pitch that never drops the product.

[ossen]

- Be frugal
- Work on your passion
- Become self sufficient after some years of hard work

[SeanLei]

Summary: Avoid lifestyle inflation! (As you make more money don't increase your spending)

[TheRosswise]

Simply not caring about what others think is the perfect counter to this.

[megaraouf]

rat race starts when your put into public school actually

[rugbyfrlife]

To save you 9 minutes:
Don't be a wage slave. Start a business.

[TheDoomWizard]

I'm 30 & already quit race race with Angela. It's all about ego/narcissism in our culture. None of those promotions really matter. Steve ruined himself, a child is 250, 000$, house 400, 000$, car 60, 000$, wife unlimited, health insurance, college savings, etc. You're a million in debt & ruined. It was a trap all along.

[aratakitheoneandoniitto]

> To get out of the rat race, just turn your hobbies into a business and join a different rat race.
Hahahahahahahahahahahahahah

[wturner]

I've wasted my 20s working between various crappy jobs, which is slowly taking a toll on me. Now in my 30s broke as hell and still working a crappy job. I can't keep living like this! Things are going to change for the better. I'm going to work for myself. If I would've known this in my 20s like I know now, I would've been better off. It's never too late.

[SuperBaby]

They left out the most important lesson of the whole goddam story- true happiness is spiritually defined and not materially

[dizimz]

Starting a business isnt for everyone. It’s usually a lot of hardwork and requires patience and dedication. Most people get stuck in the rat race because of *lifestyle creep* _which is the tendency of increasing spending as you receive raises, promotions or bonuses_

It happened to me, what I learned was;
1) when you pay off your car loan, dont trafe it in for a new one.
2) your time is valuable. It’s better to work 10 hours at a place 10 minutes from home than it is to work 8 hours at a place 1 hour from home.
3) when you get a raise, you will be tempted to increase your spending habits, DONT. Too many people go out and get a fancier car, or a nicer condo to reflect their income. It’s a trap.
4) keep your home full of groceries. This gives you the luxury to wait until the deals are good to buy certain items.
5) if you qant to start a business, start small and local. Avoid MLMs and avoiding investing a fortune into a high maintenance business. Instead treat it like a hobby and grow more seeious as your business grows. Dont start a business in debt

[trueflamexp]

The worst part of being self employed : You dont get as excited for weekends and holidays like you did working for someone.

[milosvasiljevic]

1: Be modest, spend only on needs not luxuries
2: Have some fun every day, socialize, travel and spend time in nature
3: Try to be enterpreneur, work only for yourself, not for the others
4: Invest extra money

[cato]

so true. working for other people is really a nightmare. i’m almost done but if i had to do it again i’d take a different path. my advice if you do find yourself in the rat race: keep costs low, pile up money as fast as possible and become financially independent.