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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Saving and investing is relatively low risk. 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]

It's relatively low risk but it also takes a lot of time to build wealth. By the time you have built it, you are too old. 
Moreover, it won't make you rich. You are 30 and you plan to have 2.5M by the time you are 50. I'm sorry, that's not rich. This is just enough to maintain your current UMC lifestyle in retirement.

[/quote]
I guess everybody has different definitions of rich. My UMC lifestyle feels rich to me. I want for nothing. And I’ll have a good, rather luxurious retirement (I’ll likely have as much income as a retiree as when I’m working thanks to pension and social security).

I agree with you I won’t be CEO-level rich. And that’s okay! [/quote]

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