How to Build Wealth on a Normal Salary in the United States ($60,000 or Less)

2 min readMar 11, 2023

Many people will say “Save” That is just a small part of Building Wealth. I also want to say Wealth is relative.

When I say relative I mean, literally where you live. $100,000 in Chicago is different than $100,000 in Chile or Peru.

Here are some ways to build Wealth on a Normal Salary:

Move to a Place where your Rent is 25% of your Monthly Income

  • $40,000 A year looks different in Augusta, GA (Trust Me) compared to Atlanta
  • In this scenario your rent should not exceed $1000 a month
  • Now you have about $2500 left after taxes give or take

Use your Credit to Pay off Utilities

  • This consolidates your bills and you can just pay 1 Bill (your credit card Bill)
  • This allows you to setup a budget
  • If your Credit is bad their will be Second Chance and Secured Card programs you can utilize

Get Rid of your Car Payment (unless its an asset)

  • This is the part many people don’t want to hear or accept
  • Your Credit may take a nosedive but there are many second chance banks and credit cards
  • Go buy a Car Cash and be done with it (Car Auctions are an excellent resource)

Network with People with more Money

  • This is a big part of building Wealth, being around people with more money will motivate you
  • When you are around people buying land, assets, and talking wealth; it changes you

Buy Books & Study Financial Literacy (Recommendations Below)

Change your Algorithm

  • Follow people on social media that are about Wealth Building, Taxes, investing, and Financial literacy. I know it is difficult to give up sports and non productive activities but its your only chance to escape your mediocre life. Its literally up to you! Remember even some Slaves built wealth and became millionaires.

Black Fortunes: The Story of the First Six African Americans Who Survived Slavery and Became Millionaires

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