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Actually, it really is that simple. Save 50% of you income for ten years and invest it sanely and you will become rich. It's a pretty simple mathematical equat
by brc 11y ago
Actually, it really is that simple.
Save 50% of you income for ten years and invest it sanely and you will become rich. It's a pretty simple mathematical equation.
Most people don't want to admit that it works because they can't defer their consumption for a decade.
- prodigal_erik 11y agoHardly anyone makes more than $2M in ten years. Investing $1M conservatively and moving to the third world might get you a reasonable standard of living, but that's not what people mean when they say rich.
- anigbrowl 11y agoThis seems to contain a number of assumptions about income, non-discretionary living expenses, and rates of return. You'll certainly be richer but you're not likely to become rich (which I guess I should have defined earlier, but which I consider to be wealthy enough that you can retire and live off passive income should you so choose).