Reply to Is saving/investing actually a crappy way to get rich?

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Reply to "Is saving/investing actually a crappy way to get rich?"

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[quote=Anonymous]OP, you are totally right. You can’t save and invest your way to riches on a MC/UMC salary.

What saving and investing allows you to do is maintain your lifestyle in retirement, not to get much richer.

Even if it makes you rich, it won’t be at a young age. You would be very old.

You could become rich by investing if you take amount of risk and gets lucky.

People disagreeing with you here are actually making your point.

One poster said that 20 years wasn’t enough. Even if you save/invest for 30 years as OP does, it wouldn’t make him rich. He would have a bit more, but won’t be rich.

If you want to save and invest your way to riches on a salary, you need to save/invest a lot more, and for this you need a much higher income.
OR, you gamble and cross your fingers to get lucky.

Entrepreneurship can make you rich and even at a young age.

*The standard saving, 401k, index funds investing won’t make you rich. It will help you maintain your lifestyle when you retire, or perhaps improve it slightly. *

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