Having a big pile of leverageable assets, even if you have little income, gives you a lot of insulation from many of the costs and risks we all come across in life. For example, freedom from paying rent, freedom from having to obtain and service debt, and freedom from having to worry about job security.
Meanwhile your doctors and lawyers give 40% of their income to the state and still have student debt, mortgages, may be forced to live in a high CoL area, and may have to live with high stress.
And every day people don't really understand wealth. There's a dumb competition advertised on TV here in the UK where you can win a £3M ($4.2M) house on the coast, and a sports car. While it's glamorous, upending your life to move to live in this home is deeply impractical for most people. The cost of maintaining and protecting it would likely cost the entirety of a median UK salary. That's not freedom.
Having a big pile of leverageable assets, even if you have little income, gives you a lot of insulation from many of the costs and risks we all come across in life. For example, freedom from paying rent, freedom from having to obtain and service debt, and freedom from having to worry about job security.
Meanwhile your doctors and lawyers give 40% of their income to the state and still have student debt, mortgages, may be forced to live in a high CoL area, and may have to live with high stress.
And every day people don't really understand wealth. There's a dumb competition advertised on TV here in the UK where you can win a £3M ($4.2M) house on the coast, and a sports car. While it's glamorous, upending your life to move to live in this home is deeply impractical for most people. The cost of maintaining and protecting it would likely cost the entirety of a median UK salary. That's not freedom.