"if America’s rich families in 1900 had invested passively ... spent 2% of their wealth each year and had the usual number of children, there would be about 16,000 old-money billionaires in America today. In fact, there are fewer than 1,000 billionaires and the vast majority of them are self-made"
I enjoyed this FIRE-adjacent idea from The Economist.
A useful reminder at this time of US market panic that picking an evidence-backed strategy of long-term index investing and sticking to it even when it feels mad to do so is an incredible hack for long-term financial wellbeing.