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Live beneath your means (aka save part of your income) This is where your premise breaks down. There are millions of people who do this who are not “wealthy”.
by mikeryan 7y ago
Live beneath your means (aka save part of your income)
This is where your premise breaks down. There are millions of people who do this who are not “wealthy”. They’re just “retired”. Acquiring real wealth requiring vastly more then your means to the point where the ratio of income to expenses doesn’t really mean much.
Even if you consider Buffet a penny pincher that’s not how he created his wealth.
- the_gastropod 7y agoI guess it depends on your value of wealth. I'd pin it somewhere around the "never needing to work again" level. Sounds like your definition is quite a bit higher. Funny enough, though, Buffet got started working a pretty regular job, saving over a million in inflation adjusted dollars before starting his business.