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While I don’t disagree with this article, it really emphasizes the “save your way to prosperity” approach, when one should also really have the dual goals of saving while continuing to grow earnings. Many people obsess over managing their savings and investments, and expend relatively little energy on increasing the available capital. It’s just as much of an issue as people who earn very well, and blow it all.
Very good way of looking at it. Amusingly, if I didn’t save a cent for the first 10 years of my career I would only be marginally worse off, because I’ve seen very rapid earnings growth since then. That said, one still shouldn’t bet on future earnings.Reminds me of a good friends father who asked a simple question, "What is the absolute maximum amount of money that you can save?" Most stumble with the answer but it is as much as you earn, whereas his next question opened up possibilities, "What is the absolute maximum that you can earn?"