I think it's also worthwhile to consider not just whether you can amass several millions from frugal spending and steady-hand and sober-minded investments into the market, but whether you should.
I think most people set themselves goals such as working at FAANG, having millions in their accounts, driving expensive cars, not because it'd bring them happiness but because that's the societal expectations that they have unknowingly adopted and never noticed the switcheroo. It makes sense why society as a whole would value this "work to the bone at the cost of everything else" behaviour - it creates good workers whose work benefits the society. It is not clear how it benefits the worker.
At the end of the day, what's the point of having those millions in your bank account when your 75, have bad knees, arthritis and crippling back pain. Decide what you want to do with your life, and work your hardest to achieve that. Don't dance at the tune of someone else's fiddle just so that maybe at the end of that long ride you can get a handshake and a pat on the shoulder.
> Decide what you want to do with your life, and work your hardest to achieve that.
This is precisely the "American Dream" mindset that the article is calling out as a fallacy. Most people are not in a financial position to do what they want, much less achieve lifelong success (financial or otherwise) doing it.
No, this obsession with "financial" is exactly what is the American Dream, not what I'm talking about.
You can live on so much less than minimal wage - it is because people go along with societal expectations do they consider it not enough. You pay the rent to live in an apartment, in a city, and work an official, recognised job. Why do you necessarily need to live in an apartment? Why in a city? And why do you need to work that menial job to pay off all of it barely having anything left at the end of the month?
Look up dirtbagging, a movement rock climbers came up with to dedicate their lives to climbing instead of the 9-5. You can get by fine with living in a tent and eating from expired cans and free McDonalds ketchup packets if that gives you the freedom to pursue what you find meaningful.
I believe the OP is actually living in Eastern Europe (see his comment above). FWIW, it's perhaps easier to FIRE in EE than in US - thanks to geographic arbitrate, you can earn $10k after tax per month and easily save 90% (or, say 80% if you want kids and very comfortable living). We don't have access to $400k FAANG jobs, but we make up for it with $100-$150k remote jobs and low costs of living.
I think most people set themselves goals such as working at FAANG, having millions in their accounts, driving expensive cars, not because it'd bring them happiness but because that's the societal expectations that they have unknowingly adopted and never noticed the switcheroo. It makes sense why society as a whole would value this "work to the bone at the cost of everything else" behaviour - it creates good workers whose work benefits the society. It is not clear how it benefits the worker.
At the end of the day, what's the point of having those millions in your bank account when your 75, have bad knees, arthritis and crippling back pain. Decide what you want to do with your life, and work your hardest to achieve that. Don't dance at the tune of someone else's fiddle just so that maybe at the end of that long ride you can get a handshake and a pat on the shoulder.