Originally Posted by Rikers
I know what I said and this wasn't it. Don't project your thoughts to my post....
(and I agree with this post....except no conspiracy was mentioned)
edit: your are looking at saving rates from the USA perspective....while I'm inclined to look at it for a whole world where a **** load of people get wiped out in the long run
There's no reason to go on and on about this. If you don't save some money every month or just have a big chunk of money, you'll never have a large sum of money to "do something" with. If you never have an amount of money to "do something" with, you'll never be rich.
This isn't some biblical revelation. It's simple. If you have 3k to your name, you don't have a chance to make money. If you're 24 and save 3k a year, then in a few years you can actually make something out of that. In 7 years, you have 21k, which you can actively invest. If that turns out to get a decent return, 10 years from where you started you actually have a significant amount of money to play with.
Everything builds from savings rate. If you have no savings rate (or a big windfall), what do you have?
Please, enlighten us where you gain real wealth from without saving any money, because I must be doing something drastically wrong.