This worked for me before I was 30; later my income stopped raising quickly. I admit this could be because I made a few stupid choices. But I think that for most people their incomes stop raising rapidly at some age.
Is there a rule of thumb which would work well for both situations? For example “always save x% of what you made N years ago”? … Oops, that is exactly the opposite of what this article suggests. A smart seeming advice, which no one would ever use in their real life.
Then I agree. I just didn’t see that word used in your response, so I misunderstood it to be without time limits.
(By the way, most people seem to use the word “young” meaning “age ⇐ my_age” or later “age < my_age”. Just ask a teenager whether twenties is young or old. Then ask a 50 years old person whether thirties were young or old. So an advice based on “while you are young” has very high potential to be misunderstood.)
This worked for me before I was 30; later my income stopped raising quickly. I admit this could be because I made a few stupid choices. But I think that for most people their incomes stop raising rapidly at some age.
Is there a rule of thumb which would work well for both situations? For example “always save x% of what you made N years ago”? … Oops, that is exactly the opposite of what this article suggests. A smart seeming advice, which no one would ever use in their real life.
I had taken “young” in Trevor_Blake’s comment to mean “in your twenties”.
Then I agree. I just didn’t see that word used in your response, so I misunderstood it to be without time limits.
(By the way, most people seem to use the word “young” meaning “age ⇐ my_age” or later “age < my_age”. Just ask a teenager whether twenties is young or old. Then ask a 50 years old person whether thirties were young or old. So an advice based on “while you are young” has very high potential to be misunderstood.)
(That was what the “for small n at least” part was for.)