What is wage slavery? For some, it is an everyday reality, a feeling of being trapped in one’s job or trapped at a certain level of income.
Why they feel trapped can vary. Lack of skills. Lack of opportunity. Dependence on health insurance. Living paycheck to paycheck.
For others, wage slavery is simply hyperbole, since it suggests involuntary servitude. This article is geared towards those who feel trapped in the endless cycle of work and consumerism they feel was created to enrich the plutocrats.
In America, we seem to believe in certain money myths that upon further inspection, don’t make a lot of sense. Once you realize they don’t make sense, you start to wonder why they exist at all.
These myths are powerful. They are reinforced dozens of times per day, when you turn on the TV in the morning and on almost every billboard you pass on your way to wage slavery.
- Debt is Inevitable
- The Government Sets the Retirement Age
- You Need $2 million to Retire
- You Have to Leave Money for Your Heirs
Question: So why do they exist?
Answer: To keep the wheels of a consumption driven economy moving, and protect the system of wage slavery and debt.
If the wheels stop moving, people might realize that they don’t need electric toothbrushes and cloud pillows. Nor do they need to work an extra 10 years to simply afford a vehicle with a chrome package upgrade.
Breaking through these money myths is dangerous: proceed at your own risk.
Debt is Inevitable
I’ve heard this a lot from older people who are up to their eyeballs in debt. “You can’t take it with you!” they snicker as they take out another line of credit. Some even get patriotic about it: “Debt is the American Way!” I’ve heard them say.
This consecrates debt as a dangerous social contract. We will continue to advance you your paycheck so long as you promise to spend it. This is one step above scrip, where bosses would pay you in goods from the company store, all but making you de facto dependent on your job.
This is the key to wage slavery. You are always dependent on your job to pay for the things you bought with future earnings.
The Government Sets the Retirement Age
We hear in the news so often about the “retirement age.” It is talked about so often that it has become ingrained that this is the age you MUST work until.
In reality, it is a form of extortion to hold the wage slavery regime together. If you follow the American Way and are indebted, we will take care of you so long as you work until you are feeble. Then you will get your scraps.
Using terms like “early retirement” only further solidifies the notion that retiring even a minute before your government-approved Retirement Age is some form of rebellion.
You Need $2 million to Retire
This money myth is mainly perpetuated by investment advisors. They want and NEED you to work for a long time, as well as save money through their commission-generating retirement products. This is how they retire early.
It seems like every five years the magic number gets bumped up. It used to be a million dollars. Now maybe it’s two million. In reality, if you save and plan in advance, you can retire on way less than that, and way earlier than you may have ever thought.
If you pay off your bills and set up passive income streams to cover your daily needs, why work unless you are bored? This is where you can break the chains of wage slavery.
You Have to Leave Money for Your Heirs
First off, why?
I can’t think of any reason to leave money for your heirs unless they are disabled or unable to care for themselves. If you raise a smart and able-bodied child, they should be able to take care of themselves.
By always throwing the focus to future generations, we refuse to live in the present. We work longer than we should to save up a nest egg that we will never use.
We then expect our kids to care for us in retirement. This transfers the cycle of wage slavery to future generations.
This notion must be challenged and destroyed. We will never fix today’s problems if we are always looking to the future.
Don’t Try to Beat the Wage Slavery Myths – Don’t Even Play
Forget trying to win the game or rewrite the money myths. How about not even playing?
The money mythmakers are way more powerful than you are, so please disabuse yourself of any notion that you can rewrite the rules for everyone. You can’t.
All you can do is silently refuse to play along. Instead of worrying about the nation’s economy, worry about your family economy.
Instead of worrying if they are going to raise the retirement age again, just quietly prepare for early retirement and work towards breaking the ties of wage slavery.
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