Minimum needed to retire in late 40s

New / Mgmt
Microsoft.

New Mgmt

PRE
IBM
Microsoft.more
6d 38 Comments

How much would be the "minimum" needed to retire in late 40s if living in the Bay Area?

Pls mention the costs that you are taking into account and why you are suggesting that figure.

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TOP 38 Comments
  • Honestly, why would you want to retire in the Bay Area? Even if you are attached to this shithole of an area rather than looking at the other beautiful places US has to offer, couldn’t you just move 50 miles north to Napa and retire there? You are just one hour away from the bay and you can live with less crazy expenses.

    Anyway, my non-bay area number is 3-4M.
    6d 22
    • New / Data VenmoEng
      It was non-stop hard work. Nights and weekends.
      6d
    • New / Data VenmoEng
      Also, I don’t have it. It’s being processed through the company that bought it. It will take a week and that’s what I get after taxes.
      6d
    • Google / Eng pcdizzy
      Alone? I.e. you just sold idea+code, or did you hire people?

      Also how did they value it? Did you have revenue?
      6d
    • E*Trade / Finance cbEV72
      Good, get your money and leave blind. This place is for losers
      6d
    • New / Data VenmoEng
      Not alone. I had a team of 3 primaries and about 5 contractors. The contractors were paid.

      I was able to show value by getting big companies to adopt it (3), building out a roadmap showing what I would do with more money. 1 year plan. The revenue we had was from deals with partners selling our product to them.

      It was code, then became an app, also a web app.

      It was a part of the whole Hadoop, IBM, data lake solution. We found a way build out libraries with real humans and sell those to companies who need the libraries, tags, and taxonomies.

      Anyhow, I recommend a side hustle with smart people who are passionate about succeeding and who have succeeded in the past. It’s also, very much about luck.

      Also connections. We knew the right people who were decision makers.
      6d
    • New / Data VenmoEng
      Our success happened because we all have very specialized skills and we worked for 3 years, modifying, tweaking, and improving. 3 years. Try that. Try working your but off for three years. It’s super hard. But that’s why you get here. You keep pushing. Eventually you’ll win. Right people+luck+skill+right time=success.
      6d
    • E*Trade / Finance cbEV72
      Dude, you’re still here. Don’t you have real people to brag? One more posting, and you’ll look like dreamer
      6d
    • New / Data Nordstroms
      Leave already you broham
      6d
    • New / Eng
      Microsoft.

      New Eng

      PRE
      IBM
      Microsoft.more
      OP
      VenmoEng ignore these losers who can't take it when someone puts some great piece of advice on their plate.
      Congrats on your great success and please stay in Blind and help the rest of us who may want to try our best to start a startup while working full-time. Thnx
      4d
    • E*Trade / Finance cbEV72
      Ok, dreamer. You’re back. Where’s your imaginary millions?
      4d
  • LinkedIn
    tendies

    LinkedIn

    BIO
    sex work, quantum computing, and crypto HFT
    tendiesmore
    Lol at retiring in the bay area
    6d 0
  • Amgen Fin4eng
    ~33x annual expenses (including taxes)
    6d 0
  • Intel gifkapa
    $100M
    6d 0
  • $2bn
    6d 0
  • Meetup q73smt
    25x yearly expenses if you’ve got your money in broad index fund.

    40k = 1mm
    100k = 2.5mm
    200k = 5mm

    Up to you where you want to be in that range.
    6d 2
  • New / Other
    DuQvV7y

    New Other

    BIO
    Did stuff. Hustled hard. Retired
    DuQvV7ymore
    600 drachmas
    5d 1
  • Expedia e2t2
    Dont make it complicated. People who do so many calculations never reach any decision. Take a step and live life today.
    6d 0
  • LinkedIn denter
    There are so many parameters: your current age, current net worth, current TC, estimated TC trajectory, current net worth, spending rate, whether you have kids or not. I would say, use PersonalCapital, add your accounts, add your other numbers, and let them do the Monte Carlo simulations, all free: https://share.personalcapital.com/x/dAZF5R . Great tool, I highly recommend it. You can add the age you want to retire at (your current age in this case), and it will tell you whether you are good to retire or not.
    6d 0
  • If you already pay off your house, 4-5M, if not, plus the sum of future mortgages.
    6d 0
  • Amazon / Product TheStreets
    Depends on your lifestyle when retiring. Personally I'd get bored if I retired so I plan on doing part time freelance to keep my mind busy.
    6d 0
  • Expedia e2t2
    Depends. No definitive answer.
    6d 0
  • Microsoft / Biz Dev MemeGenX
    $10M
    6d 0