[canicode]

Can you explain how the "maths just don't work out"? I'm pretty sure saving IS the way to wealth for the overwhelming majority of people.

This honestly sounds like it's straight from one of the Facebook posts with clouds in the background.

[marcosdumay]

Mid and lower class people won't get rich by saving their salaries.

In fact, it's not unusual that the entire earnings of a work-life of a mid-class worker do not add up to something that would make a person rich, even if 100% of it is saved.

The other side of the coin is that mid-class life is pretty good, most of the GP advice will lead to poverty much more often that it'll lead to wealth, and the one important piece that is "create more" comes by responsible working.

[jdimov10]

"Responsible working" is how you make other people rich.

Having fun and playing ("irresponsibly"), expressing your true essence, is the only way to create ANY lasting value.

It is also the only way to create any wealth. The OTHER (much more common) way that people get wealthy is by capitalizing on what others have created. Which is fine with me (I'm all for the wonders of capitalism), but I prefer creating my own wealth.

[marcosdumay]

Well, you may be the one of the few that like improving the same project, day after day, until it's good enough to get some money out of it.

Most people get bored, and will only create something for themselves if they act responsibly after a while. Unless what you call "responsible" is working for other people, instead of the more usual "hey, I don't want to do this right now, but I'm doing because I know it's good for me" meaning.

[canicode]

Most people get wealthy by working for other people. Depending on what you call wealthy. 1-2M in investment accounts and a paid off home is very affluent/wealthy to me.

Also, to say those people aren't creating wealth is very offensive.

[canicode]

Mid and lower class people can definitely get rich by saving. Of course their savings don't add up to millions, but you're completely disregarding the returns of a decent mutual fund. At 4-7% real returns, the amount they have after a 20-40 year period is wildly different from the raw amount they've put in/saved, due to the power of compound interest. So although they haven't SAVED millions, they HAVE millions.

[zardo]

>Mid and lower class people won't get rich by saving their salaries.

They get richer than they would by spending them.

http://www.millionaireeducator.com/our-story

[pjc50]

Depends what you mean by wealth, but for the majority of middle-class people the way to wealth is highly leveraged property speculation: borrow deposit from parents, take out mortgage, wait 25 years during which time the property has gone up hugely in value.

.. which requires a steady enough job to make 25 years of uninterrupted mortgage payments.

[canicode]

That's completely wrong. Invest in a mutual fund monthly and you'll be amazed by the power of compound interest.

[ro_sharp]

And local property markets where prices rise above inflation forever (this is never always the case!)

[pjc50]

It's not guaranteed, but on average in the UK it's 2.9% above inflation since the 60s: http://monevator.com/historical-uk-house-prices/