The Middle Class is Shrinking!

In Robert Kiyosaki & Donald Trump's 2006 book Why We Want You To Be Rich, they have something alarming to say about the middle class in general.

Robert says:

"Because of low financial IQ solutions we used in the past, today our demographic is changing like this:

As time passes, the middle class keeps shrinking!

[The width of the shapes denotes the number of people in each class conceptually].

What the diagram shows is that the rich are getting richer, and everyone else is getting poorer, even though many people are making more money. Unfortunately, the United States is not the only country heading in this direction. Many world economies are becoming two-class societies: the rich and the poor...classes or masses.

The April 16, 2006 Sunday Edition of The New York Times ran a front-page article with the headline:

"Revival in Japan Brings Widening of Economic Gap"

The second paragraph of the article states:

"Today, in a country whose view of itself was once captured in the slogan, '100 million, all-middle class society,' catchphrases harshly sort people into 'winners' and 'losers,' and describe Japan as a 'society of widening disparities' "

In other words, the middle class is being wiped out. Today in Japan, you are either rich or poor, a financial winner or a financial loser. The same thing is happening in America and in many European countries."

In this 2006 book, Kiyosaki suggests that the most number of people in this world are middle class. This is substantiated by Hans Rosling's bestselling book Factfulness written in 2018. Rosling writes:

"The majority of people live neither in low-income countries nor in high-income countries, but in middle-income countries. This category doesn't exist in the divided mindset [thinking of the world only as rich and poor, west and others, developed and undeveloped, etc.], but in reality it definitely exists. It's where 75 percent of humanity lives, right wherever the gap is supposed to be. Or, to put it another way, there is no gap."

Distribution of World Population in 4 Levels. 75% of the human race is middle-income.

Chartered Accountant Rahul Malodia, who is an Indian business coach and a YouTuber, has made a video about the shrinking middle class crisis in 2023:

https://www.youtube.com/watch?v=baoIjrZb0S0

Click the little arrow to read the English transcript of the video:

Middle class man, a common man is always relieved in the hope that if not today, then tomorrow our good days will come,

we will also be rich, but it is with great sadness that the post has been illustrating the truth, the truth is that

in the coming times, the middle class graph It is not going to go up but down may be one or two percent of the people will become rich

and most of the people will go down as they are but to remain as they are today they will

have to struggle a lot always the next generation is ahead of the previous generation One generation walks on foot

, second generation brings bicycle, third bike, fourth tax, but now the coming generation will

not be able to overtake speedy

, but will go back. The child will have to be supported because the savings are decreasing, the debt

is increasing, at this time India's credit card is on top, ₹ 185000 crores is unpaid, now you must be

saying Rahul ji, how will this work, the economy is going to flood the country. There is a flood ahead, we will also

move forward, sir, the economy will move forward, we will take its benefits very much,

nothing will come in our hands, because the game of becoming rich is very different, many people do not even know that they will pay

less and less. Making mistakes, in this video we will try to understand the game of becoming rich and

identify what mistake you are making at every step and try to rectify it.

Things will keep happening but you are going to have a taste of finance on this channel,

so if you haven't subscribed to the channel yet, subscribe now, the

game of becoming rich is very simple, its mantra is three steps, first make money, making money. Money second money

save saving d money and third money invest then brother what is the first step in making d money paisa bana

because the raw material of the game of making money is also money it takes money to make money and

how to make that money Will earn with his skill, who has as much skill, who has the ability, who can work hard,

he will earn that much money, in which ₹ 50000, for whom 50 will earn ₹ 5 lakh, ₹ 5 lakh, who

does not have skill, only 5000 will be able to work with great difficulty, first step complete Money is used, what to do now,

the second step is to take the money, baby, it is not as much as you have earned, you have spent so much money, it is very important to save money,

mother, you have earned ₹ 25000 and your neighbor has earned ₹ 50000, but you have earned only 20 of 25 work. Spent money

for 5 children and his brother gave him 50 out of 50, even if you will become rich in future, it

will look like Lanka because you are not getting rich by earning money, you are getting rich by saving money and the third step comes

investing . Money, this ₹ 5000, if there is pulse dog in the child's account, then it will be spoiled lying around, this

₹ 5000 will have to be invested in some place where it will be 10-10 of 20 and go ahead and

create a big wealth for you, this is it. Only game just Rahul ji itna simple kaamo bachao lagao ho gaya ye toh wahi hai

karton kholo lagao hai itna simple game it is for top it is not simple for 99% people bhai sahib first

step kya hai paise kamna kaise kamega bhai skill se skill What to do for the middle class,

send them to school, send them to college, do degree, do it brother, where a person has a capacity of ₹ 2000,

he cannot pay more fees than this, he goes beyond his capacity and pays a fee of ₹ 4000 a month. If he is doing this to the child,

he gave blind money in school, then gave blind money in college and after spending so much money, the degree he

got at home, he has been wandering from degree to degree for 6 months, he is not getting a job and if he lost his job by chase Money is

not going as much as I had thought, the money that I had spent in school and college, I am not getting the salary that I got,

so brother, how will I move ahead

? Kamna wants India's education is very expensive, neighbor is not giving education,

because she is not giving skill, she is giving paper degree, just on first level many people are doing mistake,

those who have clear first level, others go astray You have done very good earning, you are not saving

because how is saving, earning means you spend equally, now the one whose earning is

good, his expenses are also good, then the savings are zero and the expenses are increasing every year, your pulses and roti

will also be expensive. Oil will be expensive in soap Your education will be expensive Your medical will

also be expensive Plus your way of life is clouded Today 20 years ago you used to go

out to eat once a month today you go out to eat twice a week Yes, this is inflation, what else is there,

earlier there was one phone in the whole house, they used to run less than that, now every person in the house has a phone and it changes every year.

If it is like this

, brother, how much your income will be flooded, will it

reduce the savings? If there is, then the old life brother went to earn, the rest, which is old,

went to repay the one loan, so brother, what to invest

? Didn't spend unnecessarily, limited clothes,

limited shoes, no need to travel around, no need to use mobile phone

If you don't

get it, do it again, do the credit card, for example, even for one day, it ends in this way, and it is sold by

asking 21 to 30, and then on a date, the same condition came, this was the biggest trap in saving, many people

got trapped Mother, someone went back even more than this, who said that earning is very good, expenses are controlled, our money goes back,

now by investing, you will become a big man, how will you become brother, the money that I am keeping in the account is

called money, it is big garbage. It will be wasted, I will make a separate video for you, you have

kept it in HD, what return is it giving to you, more than what it is giving in HD return, your expenses are flooded,

your money is getting spoiled even in HD and tell me sir, I have taken government security Rakhi hai

maharathi insurance product, leave medical insurance, then leave insurance, apart from that,

all the insurance projects in which you mother's brother will give us investment

. All these will

make your life prosperous, brother, leave the dream of becoming rich, this was the truth of today's world, if you believe it, then it is good, if you don't

believe it, then it will be even better, now you will say, keep on giving the solution, I had given the solution first.

Sir it's only one thing this one thing go around it like rubber say it 100 times the thing will remain the same you have to learn how

money works you have to learn how to save money you have to learn

how to invest which products are bad why It is bad, where to invest, how to get returns, and

you will not be able to learn this alone, you will teach your child to learn this, son, you also learn,

this thing will not be taught to the wife, but you are trying to save, they Swiggy from behind.

If you want to become rich or become rich, whether you want to become rich or not,

if you want to save yourself from poverty, then you should know your family, your children, your wife

Basic Concept of money what is money what to do to earn money what are the

sources of earning how to save what is inflation what is this thing

how to spend without any reason rock jain investment in which products not to do in which to do If you want to learn all these things,

then make a list of what I have said so far, you have to learn all these things, now if you want,

go to Google and learn by typing, or go to YouTube, learn by typing there, ask any brother

Read a book, take a course, do what you want to do, if you don't have a finger, you have done the worm,

you have woken up separately, you need a solution, so if you want me, I am doing a course

this month . From 17th to 20th morning from 7:00 am to 9:00 am this course will start live on your zoom, you will have to complete the

day course with your wife, father, son and complete family sitting in the school.

First day there will be talk on mind set, there will be talk on Manit, there will be talk on second hand earning, what are you doing, what is the

solution, third day there will be talk on siri, why there is mistake, how to save and fourth day we will talk about

what is investment pe. What is wrong and what can be the right investment

if you are watching this video before 17th brother registration link is below apply now

and watch it live with whole family and revise later then its lifetime recording You will also

get more bike chase, you are also watching the video, in the middle, Rahul ji, we are late, the class has gone, there is no problem, you will also

get the link of the recording as soon as you register, and if there

is any problem, then the number If you can contact him, then this was the summary of today, see Bharat, which was Sony's bird, will

be made again and it will be made when every middle class does not mean that

out of 140 crore people of India, one crore people are rich and 39 crore people living life as I wish more and more people

It is in the top category, according to it, I have made an effort, it has been kept actual, it has been kept

on your registration, if any of you gentlemen find it expensive, do not register it at all,

talk even by mistake because your money is abundant and so useless.

You are spending ₹ 50 on a thing, you have gone mad, don't spend it at all.

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My opinion:

I've been middle class since birth to the time I'm writing this. I agree with what CA Rahul Malodia says; that the standard of living for Indians keeps on growing up while inflation keeps robbing people of purchasing power. He said that our parents took vacations for 1-2 weeks per year and that too to some Indian locale like Vaishno Devi; while we take 2-3 such vacations per year and that too to foreign countries sometimes! He further elaborates that earlier one soap was utilized by 5 people; now each person has 5 bathroom items! Slight exaggeration here but you get the point.

Since most people are middle-income, as PROVEN by Hans Rosling, the group is bound to be in deep trouble; or at least in some trouble.

Robert Kiyosaki is focusing on financial education here. He always has been keen on teaching that. In his classic book Rich Dad, Poor Dad he has said 'the middle class buys liabilities that they think are assets.'

I'd personally like to think that governments will take care of the middle class to some extent if some calamity happens, but that's just sheer stupidity. We have to focus on financial education. I've been reading financial literature for years now. I don't have the answers but I AM trying. And when I do find them, I'll share them with the world! 😊

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Sources: Why We Want You to Be Rich: Two Men, One Message by Donald Trump and Robert Kiyosaki

Factfulness by Hans Rosling, Anna Rosling Rönnlund, and Ola Rosling

How Indian Middle Class Is Getting Poorer Than the Lower Class? | Rahul Malodia (https://www.youtube.com/watch?v=baoIjrZb0S0)