Quote:
Originally Posted by polak
Wow according to bizaros chart I'm decades ahead of where I should be on one side and decades behind where I should be on the other....
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I'm not saying anyone "should" be anywhere. But I think people miss the power of compound interest. By the end of the table, your money is earning way more than you're saving, which makes it much easier to increase your net worth.
When Fuzz posted that 60K savings, it makes it seem impossible for the average person to become financially independent. But it's not, even without a silver spoon. It's harder without one, but not impossible. When people think things are impossible, they don't even try, which is a shame.
Starting to save as soon as you start working (or if you didn't, I'd recommend starting now as a good second choice) gives you time to let compound interest work for you.