Brad Hargreaves has made a nifty little chart of what sort of wealth a person could hope to accumulate in a lifetime, with helpful examples for all the rungs on his ladder.
I’m not astonished by the rate of creative destruction in the economy, even though my way of earning a living has been completely wiped out at least six times in my lifetime. It’s the non-creative destruction I’m amazed at. Not Adam Smith, or even Karl Marx destruction. Ghengis Khan destruction. Vercingetorix destruction. William the Conqueror destruction. Carthaginian destruction, with nothing to replace it. The economy is less sophisticated than twenty-five years ago. It’s a hard money, feudal world again in many respects. The Duchy of Chicago was just awarded to a loyal Cromwell.
I could simplify the chart to just three tiers:
1. Make money while you’re awake.
2. Make money while you’re asleep, too.
3. Make money even after you’re dead.
And bite all the coins. There’s a lot of tin in there.