3 ms·
Sure, they'll always be ahead, but 1000x as wealth sounds pretty impossible compared to 'a lifetime or so of compound returns'. Most people only need to build
by nly 5y ago
Sure, they'll always be ahead, but 1000x as wealth sounds pretty impossible compared to 'a lifetime or so of compound returns'.
Most people only need to build a $2-3M pot to be financially independent, be able to stop working, and still live better than most working Americans, which is the biggest quality of life improvement there is in acquiring wealth.
The utility of wealth falls off a cliff pretty quickly. Replacing a $200K/yr salary from passive income in perpetuity with a good level of certainty would require a pot of $6-7M
At 7% (above inflation), most people still need to spend 30 years saving 30% of their salary before they can reach a level (30x) that can replace it. 15% over 40 years also works.