Why the name MadWealth?
Let me start by saying, it isn’t about the slang term “mad” as taken in a positive way, just to clear that up. One reason, of course, is that in my opinion, it’s easily memorable. But beyond that and more importantly, is it makes me mad the way wealth is portrayed and viewed in American society today as a whole.
Rather than just complain about it or talk to people one on one at every opportunity, the thought was that this website will allow me to share personal views on a larger scale than otherwise could be accomplished. I don’t commit to one article a week or anything along those lines that leads to traditional blogging “success” because if I don’t have anything valuable to say or add then personally it’s better to simply not allocate time to posting… or waste my valued readers time with something that isn’t worth reading.
We all know that personal finance is not taught to any measurable degree in the school system, you will learn a good bit of great things but not much (if any) about how to handle money. It’s been this way for a very long time and though many powerful people have tried (Dave Ramsey for example), not much has changed in that regard. This is the start of what bothers me and why I’m writing this post for financial literacy month.
Wealth is not only noble when handled correctly but I firmly believe it’s biblical in nature. Simply put, without any measurable resources you just can’t do much for your fellow man in this world at any scale. It is my personal belief that I’m here to be a steward of what God allows us to amass, and try to handle it from that point of view at all times. That isn’t the point I’m trying to make, but it does provide some context as to why this website exists and the article is being written today.
Kids growing up today usually associate wealth with large homes, fancy vehicles, a life filled with leisure, and something that is mostly attainable only by CEO’s/Rockstars/Professional sports players/singers/etc…. Of course, this is step one to a warped view of money, but it is the cards we are dealt with when starting out. From there they also view it as evil, this is usually taught by parents who have this belief instilled in them – either through long term financial hardship or from their parents down the line. It’s a vicious cycle and something that will be impossible to fully break, though I do firmly believe we can make a difference.
Something that has gained traction from a political standpoint is the growing wealth divide in America, people see it as unfair. While I’m not here to address politics in any way, those of us who understand compound interest know that this will only widen the gap over long periods of time. It’s not only that piece of course, but what is sensationalized via media is the top end of this gap – where time alone makes such a profound difference that it can’t be slowed in any way (nor should it be). What people fail to understand, and guys like Tom Stanley have done a great job at addressing – is that most wealth is first generation and not inherited. The most recent available statistic estimates that 88% of millionaires in the US created their wealth without inheriting anything. What is important about that is it shows that the American dream is alive and well, anyone can do it.
That is why financial literacy is so important to spread, it has the power to take a hopeless subset of society and instill both hope and wherewithal in them. THIS is the core reason that MadWealth exists and why I enjoy sharing our content.
I hope you have all enjoyed a great first quarter of 2019, to everybody reading this – my sincerest wish is for you to attain lasting financial freedom and the life of your dreams.
Let’s do the math
Calculate your mortgage or work with the compound interest to see what it can do to expedite your wealth building.