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One definition of leverage is the ability to do more with less. Rich added to that definition by saying, leverage is the ability to do more and more with less and less. The idea of more and more with less and less is very important at this point Rich said, the different between the rich, the poor and the middle class is found in between the word more and the next word more.
Rich explained further by saying, the rich keep adding more and more leverage which is why they get richer and richer. The poor and middle class stop adding more leverage. The point at which you stop adding more leverage dines your financial station in life. In other words, a person becomes poor when they stop increasing their leverage. The same is true for the middle class. The truly rich never stop increasing their leverage.
For many people in the middle class, their academic and professional education is where their education stopped. The rich do not stop there. They add more leverage by adding financial education to their list of more and more leverage.
The poor are different form the middle class because they generally have less education in their list of education leverage. The poor often do not have even a basic education or they fail to add professional education to their list at the middle class add a little more education but not enough education to make them rich.
There are three different kinds of education:
Academic education, professional education, financial education.
The poor stopped at professional education and was not interested in his financial education and was not interested in this financial education. That demined his financial station in life. Rich never stopped his financial education and the terminal his financial station in life.
The people falling behind today include those who have gained some form of leverage but are failing to gain more leverage. Just because you graduated from college ten years ago does not mean you can stop working to gain more and more leverage. As rich used say, college degree does not entitle you to stop learning or to stop increasing your leverage. Neither does a million dollars in the bank entitle to stop learning. In fact, if you stop learning, your money will soon go to someone who has continued to keep learning. Your money will go to the person who realizes that true leverage is the ability to constantly do more and more with less and less.
