Doesn't matter if it's 200k or 500k You won't ever be rich, as a multimillionaire after taxes. Unless you invest in high risk assets and/or start your own business. That's all. Stop chasing TC thinking you'll become millionaires. After taxes we're all the same class.
I chase TC and I bought a 2.2m SFH with 1.5m paid off. I'm sure I can be a multimillionaire in my 40s.
1 million in today's money is 11 million in 1950 (economy boom after wwii) so you really need at least 10 million to be considered a proper multimillionaire adjusted to inflation. It will take you more than until 40s to save that in cash.
Well, so you need to adjust your definition of multimillionaire. But it's also unlikely I'll chase 10M NW. I plan to FIRE with 7m NW.
What is the best way then?
Investing in crypto appearantly is the fastest way. Don't take my word for it.
^500k Fiat money boi mad
Exactly. We're all within 1 or two orders of magnitude of wealth from each other. However, the richest humans have 5 or 6 orders of magnitude more wealth than us.
That's why we gotta pull each other up rather than compete with each other. We are like cockroaches in a circus as entertainment for the truly wealthy
Speaking of the circus, have you heard of Charlie Munger's 4500 bed, windowless dorm? I agree with you, the rest of us are entertainment for the wealthy.
Make money, invest, live below means. No high risk, no business. Saving isn’t sexy, but knowing I can stop working at any time is sexy as hell. If you live at or above your means, then yea, you’ll work forever.
You're right. Except for the few here who get 800k+ TC a year, just nuts tbh.
400k after taxes 🤷 we all the same shit
Lol if you're paying 50% in taxes you need a new accountant
Why not both? Investing 10K a year isn't going to make you rich either. To become rich, you need to both invest and also use a lot of money to invest, which you can get from your TC.
It's not really both, it's basically investing. You either do or you don't. If you don't, you'll never be rich. Simple as that
How is it not both? Are you going to get rich if you invest 1 cent a year?
I chase TC because it's fun.
Lmao, that's like 250k after taxes. Broke boi
OP, in Blind you should teach, don’t preach! A good teacher listens and responds. A preacher never listens.
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Speaking facts