So if I earn minimum wage, but spend less than minimum wage, I’ll become rich?
After some time, sure.
If that was true big companies wouldn’t need banks. The key to become rich is to make the right investments, and that means know HOW to spend much more than you make in order to get rich on the long term.
Wow! Where can I buy this book??
Works, too. Not exactly rich, but so unslavelike that I seldom notice my chains.
@LandLord: yeah, say, 100 years.
That is how I got mad chedda. Ya’ll think it is complimacated but it ain’t.
I think the number of people who earn min wage for more than 5 years or so is less than 1%
The stock market is a good example. You need to invest a lot, and a lot of it is high risk, and some of it is long term, or very time sensitive. If you only have $5000, invest it and hit a lose, you are done. If you have $50,000 and invest it all, and one investment of $5000 loses, you have the others that you break even/makes gains on to keep on going. Another is campaign contributions in US politics. You’d want at least $50,000 donation to be noticed, hundreds of thousands is better, and a 1% tax cut isn’t much to most people, but for people earning hundreds of millions a 1% tax cut is literally millions of dollars. Buying property can also be a very good investment, but property is extremely expensive, especially if you want to develop it, and without already having money most people can’t afford the risk of taking such a huge loan out.
The student loan debt in the US is an example of bad policy. Hard to spend less than you earn when the student loan interest is probably higher than the woeful minimum wage there.
They need to write a sequel book to cover things like:
After spending less, save half of what you have left for a rainy day.
Donate generously to the less fortunate
Invest in education and career skills to increase your income
…I really think there is more to it than just that book.
And I summarize what you said;
“blah blah blah evil corporations blah blah blah blah tax cuts are evil blah-blah blah… government is the answer blah blah blah blah”
I’m not sure, but I think I detect racism, misogynism, genderism, and a hatred of dwarfs in the a fore mentioned document.
I’ve got the unexpurgated edition. All 3 volumes can be yours for a vast amount of money + 25% handling and shipping. Enjoy your path to riches!
Step 2: Never have any medical problems, sudden crises, or expensive, unforeseeable problems.
Wow! It’s just that easy!
party like it’s your birthday coz we don’t gif a f it’s not your birthday