The Bogleheads' Guide to Investing

by Mel Lindauer

The measure of wealth is net worth: the total dollar amount of the assets you own minus the sum of your

The economists concluded from their research that none of these factors had a significant impact on wealth at retirement. They only found one significant factor: Some people choose to save more than others.

Reducing your spending is financially more efficient than earning more money. For every additional dollar of earnings you plan to save, you will likely have to earn $1.40 because you have to pay income taxes. However, every dollar you don’t spend is a dollar that can be invested. Once again, frugality pays.

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