<prompt> Human: Assuming that you make a reasonable income and are able to put away a few hundred dollars each month, and invest them in good index funds being low-expense, low-load, etc..., this subreddit and many people say that everything you save will get doubled every 10-15 years on average. Which seems quite nice, even with inflation around.But if its such a good idea, then wouldnt everyone who makes more than 60K-ish and doesnt have huge medical expensesother huge costs specific to them be doing it? Yet the media claims that everyone has no savings blah blah, and those making more than 60K-ish without other problems should be a fairly large amount of the population, so if saving and investing is really such a good strategy, why arent most of them doing it?Also if I want to invest in low-cost index funds, the faq says Vanguard, Fidelity or Schwab are good, should I invest in multiple of them in case one of them is a scampyramid schemeother bad things and I could potentially lose everything? As opposed to losing halfa third which would suck but be better than losing it all. Or would Vanguard turning out to be a scam and collapsing be so bad that either the economy collapses badly people with pitchforks murdering people bad or the government is forced to bail everyone out?  <response>: So youre pretending not to understand the powers of instant gratification? 