Dillon Jacobs's avatar
$84.7m follower assets
We all want to be rich. 🤑

But many people prefer spending their money instead of buying assets, getting a raise, or purchasing a home. 💸

When it comes to compounding wealth, a high savings rate and an effective capital allocation are equally important. 📈
Eric Pelnik's avatar
you don't get rich acting rich (typically)
Oliver's avatar
@odysseusOctober 13
How are you defining ‘rich’?

For me rich = options and free time, the more money I have the more options are available to me to do the things I want to do rather than the things I need to do.

My main goal is to have enough wealth to retire as soon as possible while not having to reduce my lifestyle.

With regards to cash assets the best ‘savings’ account is offering 1.5% per annum. That 1.5% then gets a 33% income tax applied and then you factor in inflation at 3.3% (for my country) any money I put into a savings account goes backwards. So to grow my wealth I can’t currently rely on compounding interest in a traditional savings account

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