America is a tough place to be alone. Not only are there raising housing, education, healthcare, and child care costs, but we are increasingly trying to cover these expenses alone. When we do not work as a team, it works out in corporate America’s best interests. The more isolated individuals and families, the more products and services will be required. However, we can buck this trend by sacrificing some of our creature comforts and by working together to build wealth. The first group of people we need to bring closer is family. Working together as a family is what America used to be all about. Families used to work as a team on farms. Mothers, fathers, brothers, sisters, children, etc. used to all work together for the farm to be successful. Everyone had different jobs and skillsets and as a whole the functions like clockwork. We slowly moved away from the farms and moved into the city. This is where we became increasingly isolated and alone. By bringing back some of this teamwork mentality, we can thrive in America. With that, here are 5 ways we can use teamwork to thrive in America.
Housing- Housing is the number expense in most households. In a perfect scenario, total housing costs (mortgage and bills) should be less than 30% of household income. This is near impossible in most cities. To beat this system we have to work together. Working with family and friends to share housing in the number one way to get ahead in America. This is what families do overseas. A family of 4 living in a 2000 square foot house can be excessive. My current house is 2500 sq ft and I have a family of four. We have 2 roommates that completely pay for our mortgage. This has allowed us to save and invest a lot more money then we could have dreamed of. Not everyone is comfortable opening their home to people they do not know but this is where friends, family, and co-workers come in. If we can find the correct fit for our households, there is a lot of money in it for everyone. Again, this will take sacrifice, but in the end, being able to pay off debt and invest money is for the greater good of our families.
Childcare- Going along with housing, childcare costs are also at an all-time high. If we can work with friends and family, there may be a way to greatly reduce childcare costs. For example, if my brother’s family of 3 moved into my home and both parents worked. My wife could stay home with their child. They could possibly pay my wife $500 a month to watch the child. Not only do we keep the money in the family but we also reduce costs and eliminate the stress of driving the child to the daycare center. My brother knows that his child is in good hands and my wife can earn income while staying at home. Everyone wins and we are beating the system. These simple teamwork-based solutions will set everyone up for success.
Business- Most people assume that starting a business has to be this huge affair but in reality, I just consider business a side hustle that you have complete control over. So many people have so many different skills and talents. I know a top-notch pole fitness instructor. She may not know how to monetize her skills. If I know how to record video, edit, and post to YouTube, then maybe we could monetize her talents. Perhaps we could create an online class for aspiring pole exercise students. Not everyone is comfortable going to a live class in the beginning. We can use our talents to create additional streams of income. Creating additional streams of income is how you truly become wealthy. I know tons of people that have talents that can be monetized. Even generating $200-300 a month can be life-changing. That money could go straight into a child’s investment portfolio, for example. However, we need to work as a team. Not everyone knows how to monetize their talents. Some people are good at the behind-the-scenes elements of business such as web design and budgeting. As a team, we all rise. This is not a zero-sum game. (Meaning my success does not equal your failure)
Investments- When it comes to investments, we need to converse and bounce ideas off of each other. The stock market is scary for many people. Some people have been in the stock market for a long period and are comfortable putting their money into it. It is hard to find people that talk about money and investments. Also when it comes to buying properties and investing in businesses, talking about this can help alleviate some of the fears.
Ideas- This is probably the easiest change to make. We all need to just talk, and listen, more. I know a lot about real estate and renting rooms. However, I don’t know much about day trading in the stock market. I have never tried to day trade, however, if knew someone who had tried I could get some insight. There are so many ideas when it comes to saving, investing, budgeting, and teamwork that it is a shame we don’t talk enough about them. We need to have each others backs.
Right now, America is kicking our rear ends. It has isolated us to the point of depression, divorce, suicides, and drug abuse. By working together not only can we combat these tragedies but also grow and build wealth. I honestly don’t see a future where our youth will be successful without working together. When our children are isolated they are at the greatest risk. We have too much to lose for us not to work together. America used to be great, and we can make it great again, together.
Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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