Alain Guillot

Life, Leadership, and Money Matters

cute puppie

My friend struggles to pay the rent on time but has the money to buy a $2,500-puppie

There is a lot of talk about the lack of opportunity, about income inequality, unfairness in the labor market, and so on and so forth.

We hear all those stories because there is a lot of truth to them. Yes, there is racial discrimination, gender discrimination, and many other kinds of discrimination. But the main reason why some people stay poor is complete ignorance and lack of curiosity on how money works.

I am saying all this from a place of experience.

I came to Canada, as an immigrant from South America, with no connections, little money, lack of language skills, etc. and in spite of all those disadvantages, I found that my only limit to building wealth was my desire to build it. At this moment, 22 years after my arrival in Canada, I no longer have to work for a living.

I have seen people with all kinds of opportunities, mismanage their good fortune.

I have a friend who earns good money, but every month he is behind with his rent payments by a couple of days.

This is why:

  • Smoking canabis every day
  • Drinking beer every day
  • Buying Uber eats almost every day
  • Spending money on house pets
  • Going to restaurants and bars regularly

All those expenses add up. In addition to that, it’s hard to focus on making money or be productive when you are high.

If some of these people understood the concept of compound interest, of the stock market, their situation would be so much different.

And, no one has to teach you about the stock market, or about compound interest. All you need is to have a bit of interest. I taught myself by reading stuff online.

On the other hand, people who care about not living paycheck to paycheck, find all kinds of ways to invest their money. Many fail on the first or/and the second time, but eventually, they find something that works for them.

Most voters want the rich to pay more taxes. They all complain about Jeff Bezos and Elon Musk not paying their fair share of taxes. But these are people who work hard. Their money was not given to them, they work hard for it. They didn’t spend it on beer, cannabis, and puppies, they invested the money in themselves.

But you don’t have to be Jeff Bezos to make good money. Even if you just have a regular job, and invest part of your money in your registered account, you too, can build a substantial nest egg.

At this moment, my revenue is increasing faster than my expenses. I did it after 22 years in Canada, with no connections, little education, and poor use of English and French. If I did it, anyone can do it.

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