The people that become millionaires understand this diagram, and exercise the self-discipline required to direct 20% of their income into savings, so that they can convert their savings into income generating assets.
Being wealthy is not the same as having a lot of income. It’s about creating or owning income generating assets.
If you spend all your income on your lifestyle you can have a great time – until the income stops.
Like everything else in life it comes down to the choices you make.
Thanks for dropping by, Peter.