How to Build Wealth (Even on a Low Income!) With Joshua Mayo
The Personal Finance Podcast
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The Power of the Savings Rate
As people start to increase their income, one of the biggest things that you talk about is the savings rate. Rilick: Wealthy people aren't so much concerned bout the investment return as they are how much money they're able to save and put toward investing. The more money you make, the more credit opens up to you, right? And so if their savings rate is still negative or zero %, or negative a hundred % rate, they'restill going to get into debt.
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