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

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[quote=Anonymous][quote=Anonymous][b]Saving and investing is relatively low risk.[/b] As long as you don’t get fired from your job (the main source of risk really), you can keep stashing money into investments. I’m 30 and by 50 I plan to have 2.5M by myself by saving 50% of my net income. The wife will also have another 2.5M from her savings. All this while living normal life, having travel, going out to eat once a week. We cook at home the other 6 days. 
This approach is way safer than entrepreneurship, where your business might fail! And the right tail end of wealthy entrepreneurs compare with the right tail of W-2 employees or jobs like law firm partner. [/quote]

I don’t know if I agree that saving and investing is really that “low risk.” It’s easy to say that, but when SHTF,  the market is down 40%, and you see years of savings wiped away over a few weeks, it’s not that easy to stay the course.

In the case of one of my siblings, both they and their spouse went to Harvard, one to Harvard Law.  When Covid hit, they panic-sold and lost a lot of money. They were in their late 30s and had decades to recover. They have the intelligence to understand the long-term nature of investing, and they still sold.[/quote]

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