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Your net worth airplane takes off when your thrust (income) exceeds your gravity (expenses).Additionally, there will be a transition point when it's less like a plane and more like a rocket.
All of those potential future passive streams rely on having savings.Have you ever heard the statistic that millionaires have an average of seven streams of income? What spurred this blog post was an idea put forth by my friend at ESI Money in which he talks about how the first million is the hardest.I tried to find the survey, report, or some official repeating that statistic but was unsuccessful. ESI shares how his net worth growth has accelerated.They mean 7 streams from 7 sources, even though the sources can be the same type. I was single, but dating my future lovely wife, and working a 9-to-5 job in the defense industry.I kept my expenses low, my savings were high as a relative percentage of my income, and I was avoiding self-inflicted financial wounds like loading up on a lot of fixed expenses (cars, rent, etc).