Probably the most important conversation we have at Lambda is the personal finance training. “OK so you tripled your income. Now keep cost of living low, avoid debt, use tax advantaged low-fee investments, and you will end up rich, absolutely guaranteed.”
define "rich"? comfortably middle class isn't rich.
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It’s about the usage of the money though, not the total value of the salary compared to others.
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I don't see how that's relevant. To me, "rich" means you have enough money to hire people to work for you. It doesn't mean that you can save up enough to retire comfortably in 35 years.
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Again, rich is relative. Anyone in the middle class of America is pretty much rich by the world’s standards. These folks are definitely changing their fortunes and moving up. What is important is that they not change their spending habits drastically given their new “wealth”.
End of conversation
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