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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: GraceZ who wrote (57512)4/5/2006 1:42:51 PM
From: Wyätt Gwyön  Read Replies (2) of 110194
 
You never want to take any more income than you need to live, it is the first rule to building wealth.

that is true...once you have a bankroll and no longer need to work to live. but getting to that point usually requires excess DPI that can be saved and invested.

it is certainly a valid perspective that "income" tends to be considered overly important by many highly paid, nicely dressed, low-net-worth people who work for money (usually for a very long time), while wealth accumulation is a focus for people whose money works for them. this is why people with modest incomes are often wealthier than people with much higher incomes.

this truth was shown more than a decade ago in The Millionaire Next Door. fortunately for our tax coffers, many people still think the best thing is to make lots of money, and the next best thing is to spend it on expensive objects so that strangers will be properly respectful of your high salary and high station in life.
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