As I approach the seven figure mark and am on track to hit 2M by 30, I am starting to think a lot about when to call it quits. It could be total retirement or just taking a super chill job for fun money while my stash grows. I genuinely enjoy programming but I also enjoy other parts of life. I dev in my free time so I'm not worried about getting out-of-date with tech and should be able to bounce back into employment if I regret leaving, though maybe not at max TC. Add in a decent inheritance and I'm set. To those who have taken sabbaticals, retired, or downshifted into a low-gear job, what considerations should one make? I ultimately want to decide by early 30s so I don't have the what-if regrets when I'm old. YoE: 2.5 TC: 251k #personalfinance
Great question, something I'm also struggling with. How did you get to $2M net worth at 25 with a TC of $251k?
Approaching 1M , 2M by 30. Started investing just before college with a full ride. Save 80% of my take home pay. Index funds and an IPO. The ridiculous gains since last March have helped as I continue shoveling tons of money into the market
Ah, rich parents and luck. Got it.
At 10M
Not happy? Leave. You don't owe anyone anything. Clients often ask me if it is okay to leave a job that they've only been in for a few months (or weeks). The answer is YES. It doesn't matter if you like the job, hate the job or have no feelings about the job. If a better opportunity has come up, apply for it. And if you get an offer, accept. It is really that simple. Loyalty to a company will never supersede loyalty to yourself and your family.
Yes but misses the point of the question. This is about quitting all jobs, not a current job. And how to reach the decision for regret minimization
Fear not. You have a long road ahead. Many hardships and joys are still await you. At 25, you could hit by a bus tomorrow. You could marry someone who walks off with half your cash. The world could plunge into war. Inflation and a downturn could eat away your savings. Youâre just getting started. I wouldnât think about it yet. Enjoy the ride.
When do you call it quits? When you have something to quit to.
As a wise man on Reddit said.. âwhat exit strategy?â
You've been working 2.5 years and you already want to quit the workforce entirely? And do what for 30+ years? Almost everyone who FIREs around that age is back in the workforce in 5ish years. Not because they need money, but because they need purpose and a feeling of progression in your life. You're a smart guy, I'm sure you'll be financially independent by 30. You need to figure out what you're going to do with the rest of your life. Sipping mai tais on the beach gets old very quickly.
Whatâs your current age?
25