The trick when dealing with failure is arranging your financial life in a way that a bad investment here and a missed financial goal there won’t wipe… - Morgan Housel

Independence, to me, doesn’t mean you’ll stop working. It means you only do the work you like with people you like at the times you want for as long as you want.

And since you can build wealth without a high income, but have no chance of building wealth without a high savings rate, it’s clear which one matters more.

In his book 30 Lessons for Living, gerontologist Karl Pillemer interviewed a thousand elderly Americans looking for the most important lessons they learned from decades of life experience. He wrote: No one — not a single person out of a thousand — said that to be happy you should try to work as hard as you can to make money to buy the things you want. No one — not a single person — said it’s important to be at least as wealthy as the people around you, and if you have more than they do it’s real success. No one — not a single person — said you should choose your work based on your desired future earning power.