InvestorQ : What is the getting rich quadrant?
Purvesh made post

What is the getting rich quadrant?

Answer
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shrinidhi Rajan answered.
7 months ago


It is divided into four parts as suggested earlier:

High income; High Cost of Living: Under this situation, you would be spending unnecessary just to maintain your lifestyle, which of course is not essential. So, unless you’re already a rich person, this option isn’t suitable and you might end up not getting rich at all.

High income; Low Cost of Living: This can be the ideal situation as one would always be trying to focus on how to save more, rather than looking for options to spend more. This situation would be the only ladder to your wealth creation journey.

Low income; High cost of living: This is a disastrous situation, as you would end up borrowing more to meet your needs and that cycle would never stop.

Low income; Low cost of living: Under this situation, you could only get rich if you earn a supernormal return on your investment, otherwise it is a tough ask.

As you can see, under the quadrant all the possible situation relating to your investment and saving habits have been disclosed, you should choose the right fit.