/biz/ - Business & Finance

>>1395655
ugh I haven't read it but if its your shitty typical boomer garbage its worth skipping.

Short term single generation optimization stuff like this is pure cancer. If you're saving for your GREAT GREAT GRANDCHILDREN to be well off you'll have more than enough for yourself

>If your earning value will only go up, why not borrow money now and get accustomed to the type of life you want to be living.

>If your earning value will only go up,

> If

Jobs phase out. You get soft, sick, or were never really good in the first place. Younger smarter people replace you.
Seems to me that in your case it wouldn't be too hard.

Second, you might have a point but the math become a double edged sword. It also depends how you weight different non monetary stats like education level and earning capacity.

X earning Rate ^ Y Earning Time. Transferring those to Q Spending Rate and R Spending time

You could argue that the minimal real savings of your shitty twenties will be counterbalanced by boosts in your later life.

However from a risk. perspective You risk a few things. Opportunity cost. You may never obtain the correct skills to save or your meager early savings form the foundation of your investments. The decisions of small hardship and meager sacrifice will help you make difficult decisions when the hardship is significant and the sacrifices truly painful.

The real question is why aren't you working hard now?

And what are you trading the money for, how are you coming out ahead? What timeframe does this alternative investment create returns in?

Frankly, your ideas about great wealth are likely small. Once you start thinking big. You realize how little time you have and that the consequences of your spending through the aeons are multiplied greatly. How long are your investment threshholds and how much do they cost now vs 200 or 500 years from now.

The way of the wealthy is measured. You must be able to react at all times to an ever changing world.

In this day and age everyone starts saving somewhere and likely at 0 or less.

Capitalists Require Capital to Capitalize on opportunity.

The decisions and number opportunities to save get harder as you grow older.

There is a wide gap between frugal and cheap.

>>1131858
According to this book. The matriarch is the most important role in the family if you want intergenerational wealth.

But she must have the skills to recognize and put out fires in the estate.

-She helps create the family culture
-She must share the family culture, be capable of passing it along
-provide Stable home environment, even on the move
-Understand and Support the Wealth Building Strategy
- Support Social objectives i.e. entertaining customers, clients, associates, relative, learning foreign languages, managing the family network.
- Master complex tax, trust and investment issue
- emotionally mature and confident enough to not become distracted.

Family can be an asset.
Risks must be mitigated.
Use sophisticated trust structures to not own anything in your person. should this be the case she will pay you alimony.
Use birthcontrol to not have unplanned children.
Often kids are the motivation you need to succeed.

>>999121
totaled together its moderate b/c medicine. but I don't know the full damage.

Dad followed this guys >>999027 program, but went full enabler mode and is now locked down with financial time bomb.

A good wife, according to Family Fortunes, is fully financially capable and well versed in tort, corporate structure, and can handle complicated investment regimes.