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Live below your means. Max out you're tax-advantaged retirement accounts. If you're young, invest a non-small portion into high-growth, "risk-on" assets, pref
by ithinkinstereo 5y ago
Live below your means.
Max out you're tax-advantaged retirement accounts.
If you're young, invest a non-small portion into high-growth, "risk-on" assets, preferably in an industry you know a little bit about and can imagine where the trajectory of growth will lead to.
If you're staying put for the foreseeable future and don't mind limiting your optionality, consider buying a home (basically a 5x leveraged bet).
- ransom1538 5y agoExactly this. People have have studied 10k different millionaires this is what they found [0]: * Eight out of ten millionaires invested in their company’s 401(k) plan. * The top five careers for millionaires include engineer, accountant, teacher, management and attorney. * 79% of millionaires did not receive any inheritance at all from their parents or other family members. It isn't hard. However, but poor luck: divorce, drugs, medical can wipe out chances immediately. [0] https://www.ramseysolutions.com/retirement/the-national-study-of-millionaires-research https://www.ramseysolutions.com/retirement/the-national-stud...