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"Wealth" isn't a very good metric for other reasons as well. Notably, lots of people who make median-ish income save every penny for retirement and accumulate a
by weberc2 8y ago
"Wealth" isn't a very good metric for other reasons as well. Notably, lots of people who make median-ish income save every penny for retirement and accumulate a lot of wealth, but they are often categorized as "greedy top X%". In our zeal to find someone to lay blame on, we often pick the wrong targets.
- zajd 8y ago> Notably, lots of people who make median-ish income save every penny for retirement and accumulate a lot of wealth Not even in the same ballpark. You're not getting to $100mm in wealth on a $50k salary. But you can be born in to it overnight. Or make that in one day in the market if you're Bezos.
- frockington 8y agoThis is precisely why my goal is to set up my children better than I was and teach them to do the same. As long as I am constantly improving and can share that with my children I am happy. Comparing yourself to others, specifically to the super rich, is not a healthy strategy long term.
- weberc2 8y agoI didn't claim $100mm; I was thinking more like $1-10M.