A couple of days ago I posted a link to an article entitled, “Here’s A Switch: American’s Who Don’t Spend”. The article talked about the current shift in American spending patterns towards more frugal purchases.
Today I was reading some of the user comments below the article and found someone had posted a wise bit of advice. Here is what the commenter said…
Two truisms that I have verified in my 74 years on this planet are:
1) Getting rich slowly is almost guaranteed but when you try to get rich quickly there is a high probability of failure.
2) Saving money is analagous to a snowball rolling down a hill. It starts out slowly but as it gathers speed it gets bigger and bigger until one day you realize it has reached a critical mass where it’s unstoppable and you start making money far quicker than you could ever spend without undergoing a total change in lifestyle.
When you reach critical mass it’s like having an invisible slave that works for you free of charge 24 hours/day, 365 days/year.
Good Luck to the younger generation, you are going to have to play your cards carefully in the New America that is now emerging. I am afraid that the America I experienced during my working life has changed forever.
Two good insights that were offered. Hopefully, most of our generation play their cards right, and will have a good retirement without having to work into our golden years.
I hope so as well, but realistically I don’t have much faith that it will happen.