Ramit Sethi of “I Will Teach You to be Rich” reads this forum for a good laugh

[Anonymous]

Anonymous wrote:

Anonymous wrote:

I didn't say most people would have that much of NW. I said IF you're reasonably disciplined. Most Americans are not in term of savings and investments.

This is so out of touch. The reason most Americans will never have $5m net worth is not because they are not disciplined - it's because they will never make enough money to feed and house their families with enough left over to accumulate that kind of wealth. Most Americans are not making $200k a year. Get out of your bubble.

For those who do have 200k+ HHI, vast majority of them are not disciplined. There're trade offs in life. When you prioritize other things over savings and investments, you won't have a large NW. It's that simple. It's nothing wrong though. Personal choice.

I just spent time with a friend who lives in a lower cost of living area than I with about the same hhi. And she is just thinking they should start saving. She is middle aged. I hope to God this is an exaggeration and that her husband has been stashing away retirement money all this time. But she does spend a lot of money.