Morgan Housel, Collaborative Fund Blog
March 9, 2017
The first idea – simple but easy to overlook – is that building wealth has little to do with your income or investment returns, and lots to do with your savings rate. Fortunes can be blown as fast as they are earned – and often are – while others with modest incomes can build up a fortune over time. Wealth is just the accumulated leftovers after you spend what you take in. And since you can build wealth without a high income but have no chance without a high savings rate, it’s clear which one matters more.
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