Sun, 24th January, 2021 - 6:52 pm GMT
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Stanley and Danko argue that your total net worth alone does not tell a good enough picture of one's wealth, what matters is how much worth you can accumulate on your income considering your own age. Therefore, a 30 year old making $ 25,000 who has a net worth of $ 80,000 has more relative wealth than a 50 year old doctor making $ 200,000 a year who is only worth $500,000.
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Horowitz's First Law of the Admirality: A collision at sea can ruin your entire day.
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