Reported 3 days ago
While billionaire Charlie Munger emphasizes saving $100,000 as an essential milestone for wealth-building, achieving just $20,000 in savings can significantly shift one's financial mindset. Many Americans, especially younger ones, face a savings crisis, with a substantial portion lacking emergency funds. Surpassing the $20,000 mark can provide financial flexibility, alleviate survival pressures, and unlock opportunities for growth and investment, making it a more attainable and impactful goal for many families.
Source: YAHOO