Quora: Why aren't more people wealthy from index funds?
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Date: March 19th, 2019 9:51 AM Author: elite mind-boggling crotch wagecucks
Gordon says, “Because you can make more money faster in other ways than 7% a year over 40 years. If you start at age 22 and put $1,000 a month into an indexed fund of the DOW or S&P 500 and 40 years later you have $1.8M. You are “rich” but not “wealthy”.”
Whereas Gordan makes a million bucks a year and is wealthy. Good for him. And good luck to you if you try to start a company and make a million a year yourself.
But while you are doing that, why not also find a way to put $1000 a month into an index fund. Surely if you can manage to make a million a year you will also be able to find a way to sock away a thousand a month (or your local equivalent)?
That way if your million dollar a year company doesn’t come to fruition you will be modestly rich when you are older.
And by the way, the modestly rich who’ve become so through index funds are not easy to spot. The teacher who has consistently put aside money into her index fund. The bookkeeper who has done the same. People who have a modest salary but have their financial house in order (spend less than they earn so they can consistently save) are people who are used to living fairly conservatively and if they get into their sixties and are worth a couple million you often would have no idea based on their lifestyle.
(http://www.autoadmit.com/thread.php?thread_id=4224176&forum_id=2#37954098) |
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