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Reply #65: The quote only really works at the upper end [View All]

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Home » Discuss » Archives » General Discussion (Through 2005)

Nikia

(1000+ posts) Send PM | Profile | Ignore

Sun Nov-30-03 04:31 PM
Response to Original message

65. The quote only really works at the upper end

The super rich are usually good at investments whereas there are people with middle to high income that save a good deal of money, but will never be as rich as the "rich" even if they are saving an equivalent amount of money. Someone saving $20,000 per year that puts it in a 1% per year savings account will have much less than someone investing $20,000 per year in growing stocks. The savings account saver will have a comfortable retirement and maybe something to give their descendents. The high growth investor will be rich. If your income is only $20,000, you obviously don't have $20,000 per year to save.

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