#23 Harry Potter Rich

I started to read Harry Potter again. It's been 17 years since The Prisoner of Azkaban changed me from a non-reader.  

The first few chapters of The Philosopher's Stone is a joy to my imagination. It's such a treat to read these hallowed pages with full knowledge of what's to come.

I'm in Diagon Alley for the first time, again. Harry has gone to Gringotts bank to get some gold to buy school supplies. 

Inside his family's vault was...

"Mounds of gold coins. Columns of silver. Heaps of little bronze Knuts."

Where did Harry Potter's money come from?

Harry's parents were only 21 when they were killed by He-Who-Must-Not-Be-Named, so they certainly could not have amassed such great wealth only a couple years out of Hogwarts.

On Pottermore, J.K. Rowling explains eloquently that Harry Potter's inheritance is derived from a distant ancestor six generations earlier, who invented magical potions used till this day (i.e. medicine).

Inheritance is certainly one way to become rich. But for most of us, we won't be as lucky as Harry Potter to go from...

"I haven't got any money - and you heard Uncle Vernon last night - he won't pay for me to go learn magic" on page 50

to 

"Mounds of gold coins. Columns of silver. Heaps of little bronze Knuts." on page 58

We could employ the tactics of Harry's distant ancestor and invent something perpetually useful for society that will make us endlessly wealthy.

As great as that would be for society and your bank account. We aren't all extraordinary inventors.

The tactic that every single one of us can employ is almost like magic.

1. Save Money

Hopefully, you can save more than 20% of your income from "inventing" or something else. But if you can save more than 50% your vault will grow like the magic of Harry Potter.

2. Invest Your Money

Read yesterday's blog for a step by step on where to start for beginners, intermediates and pros.

Check out the step by step on investing here: https://savemoneyretireearly.com/blogs/100-dollars-a-day/24-income-inequality-shrink-the-gap

3. Become Rich Like Harry Potter

It's really that easy. You don't need to invent amazing pharmaceutical wonders or write a Mariah Carey hit Christmas song. 

 

Save Money Retire Early is written by Jon Lo, a barely 30 something change optimist, and personal finance guy. I believe anyone can be rich or poor, it's what you save that makes the difference.

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