2 ms·
I agree - which is why I believe the "habit" should be modified. Educate to beging saving small sums from ages 15-23. More from 24-30. Lot more as career progre
by czbond 6y ago
I agree - which is why I believe the "habit" should be modified. Educate to beging saving small sums from ages 15-23. More from 24-30. Lot more as career progresses. Savings over 50 years for individuals, then pass a part on to their kids so it can compound another 70 years. Do that a few generations, and the compounding IS big.
As engineers, this is actually a very easy problem to solve multi-generationally. It is a resource constraint algorithm.
- ryandrake 6y agoEngineers? In your original post, you were talking about "lower middle class" people. People whose careers stocking shelves and waiting tables do not progress in a way that affords them the opportunity to save $1K per month at any point in their lives, let alone consistently through their lives and across generations.
- czbond 6y agoTotally agree - I jumped thoughts - and addressed engineers directly in an abrupt topic change.