Throughout your life or till the time you retire, are you able to obtain net worth of over 10 million usd?
I am 35 now and have another 25 years before I retire. Before people come out with pitchforks, I like to be busy and productive - my personal choice and not saying it's right or everyone else should do it. Assuming that I am able to generate investment returns of about 8% annually and invest about 30% of my income every year for the next 25 years, I should be at 9.7M
Definitely. I just reached 1m net worth at 26 and am blessed to not have to think $ issues in the future. Crazy to think my dad has amounted 6 mill in his career in tech he just retired from this week which will inevitably grow more and be passed down to me. Sometimes I get nervous to think about accumulating so much wealth and what to do with it. Been doing my best to stay educated and keep good charities in mind. How do you all plan on spending 10m+ in net worth?
How the hell you made $1 million at 26??? Since what time did you start to work? How do you handle your money? Invest?
I can give you my bank details so that you can get rid of your burden 😀 My plan is - Give half to my kids, 30% to poor kids so that they can dream like I could and the remaining to take care of me and my wife till we die. If money is left then, it goes to the kids with dreams
I don’t understand. If you own your primary home by the time you are 60. Even if we assume that 10M is 5M in today’s money. If you make 10% on your money on average annually. It is $0.5M just to spend! No rent, no savings required on top. How much money do you want!! If I retire on $10M I’m a happy man!
Many TSLA folks will end up with 5M before their 4 years cliff.
What does it mean? Im not a tech
Oh man... Engineers at tesla (who had just 4-10 years of experience had compensation of 250-500k). Say half of that from stock. So, 120-300k from stock (RSU). Now multiply that rsu with 10x (correction: TSLA stock went up 10x in last 12 months). Now their yearly compensation is 1.2M to 3M. These are 2nd or 3rd level engineers. Such high comp will last for 1-3 years for most (because rsu grants are given for 4 years). People who got 350k compensation package in 2019 will be warning ~1.5-2M per year in 2021, 2022, and 2023. Also think about how much the Sr guys like (Sr managers/directors ) are making. people who’ve been at Amazon, Apple, Snap, FB for last 5-6 years most have 2-4 M Networth... in those short years.
100% yes. The key for us is three things. 1. High income (average for blind) 2. Dual income 3. High savings For us, we save $200K a year so with 30 years of compounding it’ll add up to quite a bit of money.
Yes, by inheritance. Personal finance is a game to me, so I still work and save most of my money anyway
Not possible.
When NFLX doubles I'll get there.
Bro, this is Blind. $20M is the new $10M. Think big. We don’t stop till we reach that.
Man, are you able to pull it off $20M?
I’m aiming for $30M at least. You are below poverty line and need to stand in the food bank line if you aim anything below $10M in the Bay Area.