Am I going to be able to retire early?
When I was starting out, I thought, ah shit here goes, 30+ years of grinding for the man. Now I find myself at 2.5 YOE with 540k in assets, 400k+ TC, and due to hit 750k-1M net worth or so in the next two years assuming nothing crazy happens (autopilot). That means by 4 YOE, at 26, I’ll have a great nest egg (750k-1M) and that should set me up for retirement. I mean, even if I don’t save a single penny for the rest of my career, just having 1M before 28 is a lot when you compound it over time. Furthermore, I plan to have a partner with similar high TC/NW, and parents have high TC/NW too. It’s crazy that in just 4 years, this is possible. Anyway, are people in my situation going to actually be well off and be able to retire early?
Ya if your TC later is >= now. Idk what kinda crazy fks think you wouldn’t be able to retire in your 40s with that kinda earnings and income, unless you want a yacht and private jet
Don’t retire retire. Get a cool job like bartender or even Lyft driver. Use that to pay your daily expenses while your nest egg compounds.
It’s a great situation to be in. Study investing and learn how to preserve and grow that nest egg. You can definitely retire early. Late 20s 1M+ NW 800K+ TC
Dang u r showing me up bigtime
Steady growth. Snap stock taking off was my only big win and that’s recent. Other than that, it’s just investing and returns around 10-15% compounded.
You (and others) are certainly in a good position, but keep in mind you have never experienced a longer bear market, recession, and/or substantial inflation. The past few years have seen low inflation and one of the largest bull markets in history (during which tech in particular has enjoyed a lion’s share of the profits). This pattern is not guaranteed to continue.
You need 10M to retire with kids. Let's hope autopilot pan out. Also, how did you get 540K net worth with 400k TC over 2 years?
Bitcoin
Hello, can you please elaborate how you acquired this much in 2.5 years? Inheritance??
TC by year: 300 300 400
$1M income after taxes is ~$630,000...minus ~$540,000 in assets is $90,000 divided by 3 years...so you have live on $30K a year? 😳
What are your yearly expenses plus health care plus possible kids plus more travel. Multiply by 30-33. You can reduce the amount by lowering long term cost of living, taxes, or marrying rich.
Depends on where you live and what lifestyle you want. Also, kids? College could easily set you back a quarter mil...