Amazing. This article is an argument for the thing it rails against.
The author starts out saying you clearly shouldn't listen to the financial advice, because it is inaccurate. He then goes on to tell you that, adjusted for inflation, you will save up $90k over 40 years.
$90,000 just for not buying a coffee every day. That is amazing. Even more amazing if you're not a highly paid white-collar worker. $90k buys a lot of prescription pills, or pays for an expensive operation, or an upgraded old folks home. You will need every penny you can get when you're old.
And then there's the slippery slope. If you keep spending willy-nilly, with $2.50 here and $9 there, whenever you feel like it, it really starts to add up. $90k on take-out, $90k on movies, ubers, etc. If we keep buying trifles we could (even adjusted for inflation) actually be wasting a million over our lifetimes.
A smarter way to manage your money is to still have a latte every day, but compress the expense. Save up for 2 months and buy a Nespresso latte machine with reusable pods. Save a few more months and buy one for work! Then have a latte any time you want, for pennies on the dollar.
The author starts out saying you clearly shouldn't listen to the financial advice, because it is inaccurate. He then goes on to tell you that, adjusted for inflation, you will save up $90k over 40 years.
$90,000 just for not buying a coffee every day. That is amazing. Even more amazing if you're not a highly paid white-collar worker. $90k buys a lot of prescription pills, or pays for an expensive operation, or an upgraded old folks home. You will need every penny you can get when you're old.
And then there's the slippery slope. If you keep spending willy-nilly, with $2.50 here and $9 there, whenever you feel like it, it really starts to add up. $90k on take-out, $90k on movies, ubers, etc. If we keep buying trifles we could (even adjusted for inflation) actually be wasting a million over our lifetimes.
A smarter way to manage your money is to still have a latte every day, but compress the expense. Save up for 2 months and buy a Nespresso latte machine with reusable pods. Save a few more months and buy one for work! Then have a latte any time you want, for pennies on the dollar.