I’ve always made good money, and got some good advice when I started my first job to just always put aside 10% for saving, and put that into ira/401k. I’m in my 40s now and a millionaire. I still have to work and will until retirement age.
I know I’m lucky, but you’re really barking up the wrong tree if you think simply having a million dollars makes you bad person. I’m just a saver.
This is a really cute concept. Many people don’t have an extra $5 a day. Do you know what you get when you invest $5 a day over 12 years at a 4% interest rate? It’s not a million dollars.
Saving what, exactly? The problem is that people arent able to maintain a standard of living, meaning they can’t certainly can’t save.
Or in simpler terms, things are becoming so expensive that they are forced to decrease their standard of living to meet their needs. This isn’t a personal finance issue.
Question is, was that standard of living with in their means in the first place, Americans are in 1 trillion of credit card debt. That’s insane to me, we have a spending problem that is now seemingly worse because everything is expensive.
When you’re already more or less locked in to a lifestyle and then hit with record inflation, not everyone is going to just cancel their lives and live like a pauper, especially families. Yes many people are grossly irresponsible with credit card debt, but that isn’t the story for everyone. You’d have to be living under a rock to not see how insanely expensive life has become in the last few years. Sure people can sell off all of their possessions and move to Nebraska, but that isn’t a reasonable solution.
I hear yah, personally I cancelled a bunch of streaming apps, making all my food and coffee at home and been hitting thrift stores and estate sales for things I need. I know shits expensive, my car is a 2006 and it eats gas but I’m not falling for the new car trap.
We should teach the millionaires to fear again
I’ve always made good money, and got some good advice when I started my first job to just always put aside 10% for saving, and put that into ira/401k. I’m in my 40s now and a millionaire. I still have to work and will until retirement age.
I know I’m lucky, but you’re really barking up the wrong tree if you think simply having a million dollars makes you bad person. I’m just a saver.
Ok then let’s teach the billionaires to fear again.
Or you can start saving and investing when you’re young and be a millionaire when you retire. Compound interest is magic.
This is a really cute concept. Many people don’t have an extra $5 a day. Do you know what you get when you invest $5 a day over 12 years at a 4% interest rate? It’s not a million dollars.
…what’s the point of becoming a millionaire when I no longer have the same energy as I used to when I could still enjoy things?
Saving what, exactly? The problem is that people arent able to maintain a standard of living, meaning they can’t certainly can’t save.
Or in simpler terms, things are becoming so expensive that they are forced to decrease their standard of living to meet their needs. This isn’t a personal finance issue.
Question is, was that standard of living with in their means in the first place, Americans are in 1 trillion of credit card debt. That’s insane to me, we have a spending problem that is now seemingly worse because everything is expensive.
When you’re already more or less locked in to a lifestyle and then hit with record inflation, not everyone is going to just cancel their lives and live like a pauper, especially families. Yes many people are grossly irresponsible with credit card debt, but that isn’t the story for everyone. You’d have to be living under a rock to not see how insanely expensive life has become in the last few years. Sure people can sell off all of their possessions and move to Nebraska, but that isn’t a reasonable solution.
I hear yah, personally I cancelled a bunch of streaming apps, making all my food and coffee at home and been hitting thrift stores and estate sales for things I need. I know shits expensive, my car is a 2006 and it eats gas but I’m not falling for the new car trap.