This seems like the type of advice that comes from observing that a lot of rich people have done this. However it fails to account for the fact that the majorit

This seems like the type of advice that comes from observing that a lot of rich people have done this. However it fails to account for the fact that the majority of people who do this don't go on to become rich. In my opinion, the sad truth is that not everyone can be rich. As if everyone was able too be rich, it would be easy, and if it was easy, it wouldn't be valuable, hence you aren't going to be making lots of money and become rich!. As an aside, take a guess what savings plan will leave you with the most in the end: At 7% interest, with an annual addition of $20,000 a year for 40 years. Or 7% with an annual addition of $40,000 a year for 30 years?