I did the math.
Because so many of us believe that an increase in our financial prosperity will take away from someone else’s. That someone else’s lack will be worsened by our good fortune. That we’d be taking more than our fair share.
According to the Center on Budget and Policy Priorities, 43.1 million Americans are living in poverty.
So I wondered how much money I would be taking out of an impoverished person’s pocket if I earned an additional $100,000 this year.
I punched the numbers into my trusty calculator and here’s what I got …
$0.0023 per person.
One-fourth of a penny. I wonder if they’ll notice.
How about an extra $1,000,000 this year?
$0.023 per person.
Two entire Abe Lincolns.
Then I considered how many impoverished people I could help if I put a percentage of my income toward causes that empower them, getting them back on their feet.
Are they better off if I hinder my own prosperity out of fear of stealing theirs?
Or could my fortune be a vehicle for increasing their good?
The truth is, there is no amount of poverty you can have in your life to make one other person wealthy.
And there is hardly any amount of wealth you can have in your life to make one other person poor. Hashtag truth. Hashtag math.
Let’s do $1 billion …
$23.20 per person.
But how many impoverished people could you employ, educate, and/or empower if you had an extra $100K? A million dollars? A billion dollars?
YOU get to choose.
On today’s Finance Friday edition of The Quote of The Day Show, Jordan Belfort reminds us that money can do wonderful things, especially for those who have been less fortunate.