Saving Is Not the Key to Financial Success

You’ve probably heard it a million times from financial “experts” – the key to financial success is saving. The idea is that if we save more now then we’ll have more to spend later. And while that’s true at the individual level it’s actually disastrous advice in the aggregate. Saving isn’t the key to financial success. Investing is the key to financial success. A lot of this is counterintuitive, but stick with me for a few minutes.