The Millionaire Investing Advice for 20 & 30-Year-Olds
The Millionaire Fastlane
There’s a reason why the rich get richer.
“To those who have much, more will be given. To those who have nothing, more will be taken.”
That statement is called the Matthew Principle, or what economists sometimes allude to as a Pareto Distribution.
Pareto distributions apply to us all intrinsically.
This means the more wealth you generate the more likely you are to generate even more wealth; and the more success you find, the more likely that more opportunities will come your way.
Everything compounds itself and grows exponentially. And nowhere is that more true than investing. So, with 2022 at our doorstep, here are the 8 best investing lessons to ensure you’re on the right side of the Pareto Principle.
1. Savings accounts are a bad joke
If you have savings in your 20s, you’re doing something wrong.
This isn’t because you should be partying every night like it's 1999.
It’s because savings accounts are a complete joke that pay out less than 1% interest on your money. It’s a total scam.
