Quote:
Originally Posted by Tervuren
The problem with compound interest is inflation.
That saving mentality of the past will leave one poorer in the long run and without anything to show for it.
The real thing to do requires a lot more initiative; putting one's resources to use to generate income or resource streams beyond a paycheck.
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Everyone's personal situation is different, but I would disagree. Inflation is transient .... I started my corporate career when it was double what it is currently .... enjoyed life, spent plenty
, and saved and invested while doing so.... wouldn't change a thing. Left the corporate world at 48 .... and never looked back either.
If one's nest egg is sufficient compared to one's "burn rate", the current environment allows one to "lock in" and more than cover inflation while NEVER touching the nest egg. There are many ways to reach financial independence .... some folks just don't have "it" in them .... but most folks on this board have figured out a path that works "for them" imo.
Interesting thread McLuv!
I'm poor compared to many on this board .... couldn't relate to many when I found it decades ago .... and still can't
.
Lotsa ways to skin a dawg imo...