Anonymous #4 said:
Anonymous #2 said: if I had a $1.00 + 30 years of interest for every 10.00 I have spent I would be still be rich.
That is the same problem. Many people can not save $1 per $10 earned. This is because after everything is sorted out, more than 50% of income goes to living expenses. With a house, car, and food, you're talking upwards of $30,000 a year in just living expenses. Not to mention going out with friends, any vacations you may take, any accidents or car break downs you encounter. Saving 1 to 10 is much more plausible than 1 to 1:, but it will not make you rich in the long run.
30 years interest at an unheard of 5% fixed, if you spend $50,000 per year you save $5,000 per year, you would have $370,413. Which is quite a bit of money, but in no way rich. You'd be able to pay off your house (maybe, depending on where you live) and that's about it.
You suck the life out of everything. No reason to save at all.
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