And after the real rate of inflation and taxes. But that's in part because we're now in a period of financial repression: https://en.wikipedia.org/wiki/Financi

And after the real rate of inflation and taxes. But that's in part because we're now in a period of financial repression: https://en.wikipedia.org/wiki/Financial_repression https://en.wikipedia.org/wiki/Financial_repression But lots of that is still true, e.g. it's vital to have a reserve.