Quote:
Originally Posted by UPSROD
It is not how much that you make, but how much you spend. I retired when I was 53, have paid cash for everything for the last 35 years. I have 7 vehicles. own my home and have never made over $60K a year.
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Inflation plays a role as well.
$1 today is a lot less valuable than $1 30 years ago. Irrespective of savings and other factors.
A $60K/y salary in 1995 is equal to a $107K/y salary today…
But I agree with you. Spending less than you earn and letting compound interest work will make you a winner overall.