If computing power brings about technological advances without human input, and enough of the pay-off is reinvested in building still more powerful machines, wealth could accumulate at unprecedented speed https://t.co/Oos62JVZxr ...

Core Insights - Millennials have been perceived as the 'broke' generation, but recent data shows they have significantly increased their wealth since the Covid-19 pandemic [1][2] - Wealthfront's study indicates that millennials' total wealth quadrupled from $3.94 trillion in Q3 2019 to $16.21 trillion in Q3 2024, outperforming Gen X and Baby Boomers [2] - The number of millennial millionaires in Wealthfront's user base rose by 144% over the past five years, indicating a shift in their financial status [3] Wealth Accumulation - Millennials have outpaced other generations in wealth accumulation, with Gen X's wealth increasing by 57.9% and Baby Boomers by 41.6% during the same period [2] - The Great Wealth Transfer is contributing to millennials' wealth growth, alongside their adoption of effective investing habits [3] Investment Strategies - Wealthy millennials are utilizing time-tested investment strategies, such as focusing on low-cost index funds and dollar-cost averaging [4] - The majority of Wealthfront's millennial clients hold over 90% of their invested assets in globally diversified portfolios of low-cost ETFs [5] - This cohort views market volatility as an opportunity rather than a risk, embracing the 'buy the dip' strategy [5]

Economic Shift & Wealth Accumulation - Teton County has become a hub of remote work, diminishing the impact of geographic isolation on its economy [1] - Teton County's average per capita income is approximately $500,000 per year [2] - Teton County surpassed New York County (Manhattan) in wealth accumulation in the early 2000s and has accelerated since the pandemic, with New York falling to fourth place [1][2] Community & Culture - The cowboy culture and friendly, outgoing nature of the residents are significant attractions for newcomers to Jackson Hole [3][4] - The cowboy culture is authentic to many long-time residents of Jackson Hole [3]

If computing power brings about technological advances without human input, and enough of the pay-off is reinvested in building still more powerful machines, wealth could accumulate at unprecedented speed https://t.co/gyscHQzgcO ...

Nick: If you want to go past 10 million, aka level five, you have to completely change your strategy. Nick: Let's say you have a million dollar portfolio. I'm just trying to make it very Nick: easy.It's earning 5% a year and you're saving $100,000 a year. Nick: Do you know how long it would take you to get to 10 million. The answer is 28 years.Nick: So once you start to do the math on this, you realize like, oh my gosh, Nick: like there's just like no way I'm going to get there by doing this standard, Nick: ...