Is it possible to get rich solely through frugality, saving & investing?

[Anonymous]

I'm 47 and I like to save and invest and have currently $650000 in 401K. I'm a nurse and have worked since age of 29 ( I immigrated to USA so couldn't work earlier). I have no debt, house is paid off. I work so hard for my living that I don't want to spend my money on anything unnecessary. I'm putting about 50% of my monthly income into 401K and brokerage account. I still think that increasing your income is the best way to go, and not pinching every penny.

[Anonymous]

Anonymous wrote:Ofcourse. I did it on $25-$35k income. I can do it again now that I have the know-how and extra $10kx5 to piss away out of a million.
I went with high risk, but I would be at the same spot after 16-20 year medium risk investing. It is clear as day what stock you were supposed to buy 15-20 years ago to be doing fine now, and it's just as clear which ones to buy now. The reason so few people do it, is that they are too busy crying for the lost $5000-$10,000. The ones who are not afraid, can take $10k and grow it to million. While million is not rich, it's enough to survive without working much.

And what would those be oh great sage?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Ofcourse. I did it on $25-$35k income. I can do it again now that I have the know-how and extra $10kx5 to piss away out of a million.
I went with high risk, but I would be at the same spot after 16-20 year medium risk investing. It is clear as day what stock you were supposed to buy 15-20 years ago to be doing fine now, and it's just as clear which ones to buy now. The reason so few people do it, is that they are too busy crying for the lost $5000-$10,000. The ones who are not afraid, can take $10k and grow it to million. While million is not rich, it's enough to survive without working much.

And what would those be oh great sage?

Yes please share as I am clueless and want to be rich also!

[Anonymous]

Anonymous wrote:Read up on that guy in Vermont who worked at a gas station and died a millionaire

That reminds me of a couple who became millionaires from art purchases. One may have worked for the post office?

I searched Google for the couple above and found this other interesting article about a couple that lived frugally. One sells his paintings now in NYC.

https://www.cnbc.com/amp/2023/02/03/how-millennials-earning-123000-dollars-spend-their-money.html

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Ofcourse. I did it on $25-$35k income. I can do it again now that I have the know-how and extra $10kx5 to piss away out of a million.
I went with high risk, but I would be at the same spot after 16-20 year medium risk investing. It is clear as day what stock you were supposed to buy 15-20 years ago to be doing fine now, and it's just as clear which ones to buy now. The reason so few people do it, is that they are too busy crying for the lost $5000-$10,000. The ones who are not afraid, can take $10k and grow it to million. While million is not rich, it's enough to survive without working much.

And what would those be oh great sage?

Yes please share as I am clueless and want to be rich also!

Buy one share of Apple - NP

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Ofcourse. I did it on $25-$35k income. I can do it again now that I have the know-how and extra $10kx5 to piss away out of a million.
I went with high risk, but I would be at the same spot after 16-20 year medium risk investing. It is clear as day what stock you were supposed to buy 15-20 years ago to be doing fine now, and it's just as clear which ones to buy now. The reason so few people do it, is that they are too busy crying for the lost $5000-$10,000. The ones who are not afraid, can take $10k and grow it to million. While million is not rich, it's enough to survive without working much.

And what would those be oh great sage?

Yes please share as I am clueless and want to be rich also!

Buy one share of Apple - NP

[Anonymous]

Anonymous wrote:Ofcourse. I did it on $25-$35k income. I can do it again now that I have the know-how and extra $10kx5 to piss away out of a million.
I went with high risk, but I would be at the same spot after 16-20 year medium risk investing. It is clear as day what stock you were supposed to buy 15-20 years ago to be doing fine now, and it's just as clear which ones to buy now. The reason so few people do it, is that they are too busy crying for the lost $5000-$10,000. The ones who are not afraid, can take $10k and grow it to million. While million is not rich, it's enough to survive without working much.

But also a factor is who can “spare” 10,000 to lose or gore is a factor.

[Anonymous]

Anonymous wrote:I got wealthy through credit cards. Got my credit limits raised at every opportunity, took advantage of cash access, balance transfers, 0% APR for 18 months.

Lol

[Anonymous]

Anonymous wrote:Ofcourse. I did it on $25-$35k income. I can do it again now that I have the know-how and extra $10kx5 to piss away out of a million.
I went with high risk, but I would be at the same spot after 16-20 year medium risk investing. It is clear as day what stock you were supposed to buy 15-20 years ago to be doing fine now, and it's just as clear which ones to buy now. The reason so few people do it, is that they are too busy crying for the lost $5000-$10,000. The ones who are not afraid, can take $10k and grow it to million. While million is not rich, it's enough to survive without working much.

Oh really? What do you think it is clear as day to buy now?

[Anonymous]

As a general rule you can get poor not saving but you can’t get rich by saving. You have to invest and earn more to get rich.

[Anonymous]

Anonymous wrote:If you’re not interested in entrepreneurship, real estate or a high-powered career? Am willing to live in a crappy rural area or state, am willing to live in a 1BR condo or ugly tiny house for a long time if necessary. Would also endure long public transit commute if necessary.

You tell me OP:

https://www.msn.com/en-us/money/retirement/here-s-how-a-boston-pops-musician-made-a-fortune-on-wall-street/ar-AA12GClh

https://www.washingtonpost.com/business/economy/how-a-janitor-became-the-eight-million-dollar-man/2015/02/12/32072fe2-b1fe-11e4-827f-93f454140e2b_story.html

[Anonymous]

Anonymous wrote:

Anonymous wrote:I got wealthy through credit cards. Got my credit limits raised at every opportunity, took advantage of cash access, balance transfers, 0% APR for 18 months.

Lol

?