Work 30 years to retire for another 30+.
More income should lead to more investing.
Avoid ‘lifestyle creep’. Wealth isn’t about how much you can spend, it about how much you can save/invest.
Consider opportunity costs.
Money spent now is future gains lost.
Spending is quite addictive. There is a time when I spent frivolously and generously. Considering opportunity costs helped me be more mindful of my purchases. “Would I rather have this, or a single share of $TM, which represent a chance of 20% more in a few years?”
If you can’t buy it twice, you can’t afford it.
Jay-Z
Quality over Quantity
Things that are enjoyed more for longer is cheaper in the long run. It’s better to have a few articles of clothing that I love, than a closet full of sweaters I don’t wear.
No Debt is good debt.
Start saving/investing early.
Investments compounds.
Debt compounds.
Inflation compounds as well.
If you aren’t going forward, you’ll be left behind.
Rich people eat caviar. But caviar won’t make you rich.
Too many people fuck around and go broke trying to ‘mimic’ success. The rich are playing a different ball game. Don’t spend valuable time thinking about investing or side hustles, before having significant down. 100% returns on $100 is still only $200.
Being poor is expensive.
The financially privileged are in a better position to save more money:
- Credit & Investment Tools
- Credit Card Perks
- Bulk Purchases
- Quality Purchases
- Off Sales
- Loyalty Offers
- Targeted Promotions
Meanwhile time and price sensitivity, is a disadvantage for making savvy decisions.
see: Investing, Materialism