Not buying two
latte’s per day (2x $5 = $300/mo) saves you $350,000+ over 30 years if invested in a diversified portfolio of ETFs, bonds, stocks (avg ~7% over 30 years)pic.twitter.com/7eaAjFBXNN
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(Let me tell you the story of a bright 23 year old who was quite conscientious about financial decisions, diligently saved 1/3rd of his income, kept a receipt for every iced cocoa so he knew what he had spent on them, and accepted a $30k salary as an engineer. Only one mistake.)
Yes! Nothing wrong with cutting a latte or two (perhaps avocado toast as well) unless it hurts one's productivity, durability, or growth.
Yep agree completely. This is more to show the power of compounding interest and diversified market investing (ETFs)
Speaking of compouding, something I learned/realized recently is the negative compounding of fees. This latte is a good example of what happens with fees when investing in a fund with more fees than another one. Fees are as important as expected returns!
I disagree with this sentiment. The problem with bathing in lattes is the hedonic treadmill. You’ll end up with the same level of enjoyment buying 5 lattes a day as one per week. If you set a low “bar” of pleasure it’s easier and cheaper to feel great.
Same goes for any luxury: nice cars, a nice condo, eating only at fancy restaurants - none of these things provide any permanent increase in life enjoyment. Better putting the funds directly into your goal/passion, or towards full financial freedom.
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