Page 64 - Charles Calhoun Book Rich As You Want To Be
P. 64
12% (11.8%) annual growth for the past 70 or more
years. Many people have done that well and better.
We believe that not only should each person save
and invest but saving is one of the keys to
becoming comfortable, financially independent or
wealthy.
If a person averages only $40,000 per year
over their work life, what amount would they
amass over the forty years?
0 Percent Saved
If a person saves 0 percent, well, zero times
anything (as you learned in elementary school) is
zero. After forty years, this person would have $0.
They would be broke. This is what is sometimes
referred to as poverty. Poverty is often defined as a
low income. Zero or a negative net worth would be
another type of poverty. Twenty-five percent or
more of senior citizens have done this. More people
do this than you would believe.
Some people actually have little or no savings
but do have debts. They may therefore have a net
worth of less than $ 0. It could actually be a
negative number. I’ve read that the average
63
