Couldn't disagree more. I was paid a chit wage in the military, but I still saved a lot of money because I simply worked non stop.

Your investments should double every 7 years. Mine did more than that but I also invested aggressively. Most people's regret is not starting investing sooner, no matter how little you save. You set a precedent. And you see early on what investing your money can do.

lol hard and the midget and baldcel agreeing with each other

LMAO

I can stop shaving my head but with that mindset you’ll always be a wage slave

How much you earn is fairly irrelevant if you have poor financial skills though

But skills can be learned

Someone who has grinded away for many years to build a high income can turn around and say “time to stop pissing away my money and start putting something aside for a rainy day”. And because they have a high income, they’ll be able to put together a financial nest egg quite quickly.

But can the person who has been sitting on minimum wage their whole life suddenly securing a much larger and long-term stream of income? Never seen that.

In an ideal world people would do both but saying that savings is somehow the only important thing to the exclusion of growing your income is straight cope.

$13/hr makes $27k/yr.

$35/hr makes $73k/yr.

Hugely different numbers but it makes sense.

The $13/hr individual can still out perform the $35/hr individual, in terms of the net worth, if they're fully debt free and adding their excess expenses towards investments, while the $35/hr individual is making payments on their ski boat, car, student loans, credit cards, lawn mower, cell phone, TV, etc.

But Dave Ramsey told me to buy only used cars and no credit cards

100% agree, at least if you live in the United States.

You can only play so much defense, but you can play unlimited offense.

Anyone who lives in the US and is not taking advantage of FREE MONEY around every corner just needs to ROPE.

Ok but can they get to, say, $70k?

Probably.

And that will do a lot more for their ability to save compared to clipping coupons.

In my old neighbourhood my neighbor was a cleaner. Now he owns like 3 or more vans (can’t recall precisely how many) and an exclusive contract to clean the National University. He’s shopping for houses in the $1.5m range.

So your saying, to accumulate wealth, you need to spend your money?

That's what they don't understand. I know a couple that makes 150+k a year for several years now and they still live in a trailer. I have no idea where their money goes. One has a high end govt. job, the other a pension + well-paid job.

Financial skills are more important than making more money.

Did they built a plywood skateboard ramp in the back yard? Because if it’s the dude I’m thinking of heain’t makin no $150k as a hospital janitor

You should definitely save, have a budget, etc. but you can always make more money which will alleviate a lot of stress.

Going to be in my 40s a few years and I'll work right now in my career to make proper moves to ensure I'm financially secure. **** struggling if I can help it.

Saving money and increasing your income do not compete for the same resource (time).

You've created a false dichotomy to make an unnecessary point.

Bought a new car from a dealership with a personal check....

The thing I enjoy the most is going out and paying for things without looking at the tags."Better off not doing anything." Poorcell detected. You are looking at this in a vacuum.

There is a perception of success that opens the doors of opportunity.

If you are wearing chitty clothes / worn out shoes / have an crappy haircut / use a Samsung phone / step out of your paid in full rust bucket Toyota Corolla / and are a tightwad that is always splitting the bill, people have a perception that you are a loser. It doesn't matter that you have no personal debt, have a million invested, and are totally financially independent - nobody wants to be associated with you (this is not the worst scenario if you just want to be an independently wealthy incel).

You need to invest in yourself.

Same dude, having nice shoes, clothes that are in style and fit, have a nice haircut, wearing a nice cologne, and has a nice car, able to freely spend money, has a totally different confidence which creates an aura about them. At work you get promotions solely because you look the part. Women line up to fk you which assigns you a lot of value to other men who now recognize you as having a higher value. You start getting invites to play golf with friends and their clients which allows you to network like a mofo and create additional opportunities. Before you know it - you are off to the races with an insane amount of momentum.

I started stacking chips like the first guy but my life was totally stagnant.I think its essential to be 'that guy' until you are financially stable and then you need to start the investment into yourself with money you HAVE - NEVER ON CREDIT - I have seen countless fake it to you make its fail - its very hard to sustain a lifestyle on credit, and its very obvious to others that have money that you are faking it. My life is dynamic now and it all started once I started having fun with my cash....

It will be a life changing decision.

#selfmade #moneyfam #goalsfam

Eeeeh OP, if you save some good money early in life and invest it, you're basically set for life. Even small amounts from when you were 16-18yo can be a massive difference over the span of a lifetime.

As long as no global financial crises happen you’re goldenIronic since the post in the OP is the false dichotomy I’m arguing against