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RE: Parkinson's Law - Amount of Return is More Important than Rate of Return

in #investing6 years ago

I can't remember the exact statistic, but I think it's something in the order of 96% of billionaires became rich by starting (or buying) a business and working hard.

Sure, we all hear stories of people becoming dotcom billionaires, trading billionaires etc but those are a tiny fraction of a percent of rich people.

I'm not saying don't trade or invest in crypto, just have realistic expectations.

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That's probably pretty accurate. Very, very few people will approach billionaire status (at least in 2018 dollars/euros).

Millionaire is easily in reach for people making average incomes over a decade or two though - if they get serious about it.

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