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Your cost of living tends to go up with your income. Wants and needs rise to meet the income available to them; that is a financial law as rigorously enforced a
by powerbroker 4y ago
Your cost of living tends to go up with your income. Wants and needs rise to meet the income available to them; that is a financial law as rigorously enforced as the Law of Diminishing Returns or the Law of Supply and Demand. That’s why it’s so hard to be rich and get rich at the same time.
The way to beat this phenomenon is either to exercise remarkable self-control…or to outrun your wants and needs with “escape velocity” wealth.
https://dailyreckoning.com/the-concept-of-financial-escape-velocity/ https://dailyreckoning.com/the-concept-of-financial-escape-v...
- mickdeek86 4y agoDo you dispute the conventional thinking that the rich get richer, frequently from passive income?