the book talks about several variables as if though they are independent (e.g. market mid-term ROI, personal income, amount of leverage most brokers provide)
FWIW, the book does discuss the correlation of one’s income with stock market returns. They cite a study on this (from early in the 90s I believe) suggesting that most people’s income correlations with the market are between 0 and 20% (with many retail workers even having negative correlation with the market!). I was surprised how low those numbers where when I read that. I’d be curious to look into this more.
FWIW, the book does discuss the correlation of one’s income with stock market returns. They cite a study on this (from early in the 90s I believe) suggesting that most people’s income correlations with the market are between 0 and 20% (with many retail workers even having negative correlation with the market!). I was surprised how low those numbers where when I read that. I’d be curious to look into this more.