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[quote=Anonymous][quote=Anonymous]It is very difficult to build wealth as a wage earner. You need to have passive income from your own business, rental properties, or other investments to build wealth (more quickly and efficiently). W-2 earners pay a lot in taxes as a % of their income. That said, regardless of your source of income, always live below your means, don't dip into principal, and pay yourself first, as other PPs have mentioned. [/quote] While it's true that wage earners are typically not able to build wealth, it's not for the reason sited - taxes as percentage of income. Wage earners, with few notable exceptions, simply do not make that much money, which when combined with the standard cost of maintaining a standard level of living, does not leave much to invest beyond retirement/index funds and the like. A few really tighten their belt and go into investment properties, but that is also a slow and long process. [/quote]
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