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[quote=Anonymous][quote=Anonymous]My DH and I make a solid income (approx 225k) and live very frugally.  We figured that after years of saving and having responsible spending habits that we would be further along financially. We see so many people around us, with nicer cars, houses, vacations, etc.  What is the secret to building wealth - real estate, the market, or should we stick with our slow and steady approach?  We are trying to get to that next level, and it doesn't seem like we can do it on this income![/quote]

OP, how long have you been at this level of HHI ($225k)? Just because you make $225k does not automatically make you wealthy. It takes life time of thrift and savings to build wealth. My parents earned modest income before retiring, but are better off than their friends... my parents paid off their house early and have sufficient savings. They do not need much financial assistance in their old age. We also paid off our mortgage early, which was the key to building wealth. This will in turn benefits our child, college education, etc. like a step ladder.

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