Paychecks, Not Portfolios: Why Income is the Key to Financial Success
Paychecks, Not Portfolios: Why Income is the Key to Financial Success
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Paychecks, Not Portfolios: Why Income is the Key to Financial Success
6 comments
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Another related thing I have seen a lot is people obsessing over investing and thinking they can work 10 years and be independently wealthly if they invest well.
Well maybe if you have a crazy huge income compared to expenses but it will be on savings rate not investment returns. Investment returns just are not going to drive asset growth until your assets are like 10 or 20 times your savings rate. Which is 10 or 20 years out.
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Heh. Thoughtful post. But yeah. Income is a leading indicator of ability to build wealth. And rainfall is a leading indicator of whether the ground will be wet.
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6 comments
There’s a finite limit to cutting expenses. At a certain point “more income” is the only answer. For day to day budgeting, savings, and retirement.
People in Africa live on the equivalent of $0.02 per day, therefore the solution for millennials is move to Africa.
I hear there is good money in open pit hand mining.