Millionaires on blind, Why stilll work?

Nov 28, 2019 79 Comments

just hit my goal of reaching a million dollars in total networth (stocks, cash, crypto. excluding house and 401)

I own a house thats fully paid off. My parents passed it down to me. they now live in Nevada

thinking I should retire and spend time with my family. maybe start a blog or youtube channel. lol

Age: 29
Married: Yes
Kids: 1
TC: 280k
networth: 1.4m

Edit: my wife will still work to provide the family with health insurance. so maybe jot retire full time but be a stay hhome day

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TOP 79 Comments
  • LinkedIn U💰S💰D
    1.4M doesn’t go very far especially with 1 kid.
    Nov 28, 2019 8
    • If you keep it invested, why would you worry about inflation? The real inflation-adjusted IRR of the market is strictly positive, and if you compare it against the CPI index you can see how stocks are a very good inflation hedge, which is obvious since they are an equity investment.
      Dec 1, 2019
    • Google / Eng sxh3a3
      The 4% safe withdrawal rate, which is where the 240k/yr mentioned up thread comes from, accounts for inflation.
      Dec 2, 2019
  • WeWork / Mgmt
    WeProfits

    WeWork Mgmt

    BIO
    CEO of the We Company.
    WeProfitsmore
    Try it out and come back with a AMA.
    Nov 28, 2019 0
  • Microsoft ohokaynow
    “I own a house thats fully paid off. My parents passed it down to me. they now live in Nevada”

    If only we are all that lucky
    Nov 28, 2019 2
    • LinkedIn dpwM83
      OP
      Very lucky. My parents bought the house in south San Francisco in 1982 for 89k!
      Nov 28, 2019
    • Ultimate Software JackViii
      How much is it worth now
      Nov 29, 2019
  • IBM / Eng Yare2Daze
    As an ex google ex Facebook ex married tech lead, I continue working because not working is what lazy bums like you like to do
    Nov 28, 2019 5
    • Apple LC->TC
      “People who do things differently from me are all worthless assholes who are just wrong because there is only one set of right values - mine”
      Nov 29, 2019
    • IBM / Eng Yare2Daze
      The four of you above who took it seriously, it's a joke about the tech lead. He is a YouTube wannabe software guru
      Nov 29, 2019
  • VMware burned
    I got 4m net worth with about 1.6m in mortgage loans as I own multiple real estate investments. My liquid assets are around 1.2m. 2 kids and I realized I got some freedom to choose what I want to do, but can't stop working yet. Gymnastics is a good 3k a year + travel, soccer is 2.5k, swimming team 2k, ski team 2.5k + season passes for the whole family, coding lessons for 8 year old 2k a year, forget instrument, travel summer camp or vacation... Overall we got about 170k in expenses with pretty much home cooking and one vacation a year, usually using miles and points.
    Nov 28, 2019 6
    • Microsoft / Eng
      zxy098

      Microsoft Eng

      PRE
      SpaceX, Tesla Motors
      zxy098more
      This was really useful. Thanks for sharing! My kids are super young and I've always wondered how much activities realistically end up costing when they're older.
      Nov 30, 2019
    • Google / Eng 🍑☁️
      Fuck, after reading this I'm just gonna get my kids an ipad
      Dec 1, 2019
  • Google / Eng 🍑☁️
    I plan to retire once I hit 2 mil. That's a safe $60k annual withdrawal rate
    Nov 28, 2019 3
    • Netflix CGgy77
      I also believe 2 mil is a good target. But, what about health care insurance?
      Nov 29, 2019
    • Microsoft BlindUser&
      Yeah, honestly healthcare is the major dark horse in the equation.

      I think I'm probably underestimating the total cost in my projected budget a bit, but I'm also hopeful that as the remnants of the boomers get flushed from positions of power that we'll see the situation improve somewhat in the next couple of decades.

      Honestly if I were looking to retire within the next couple of years I'd make sure I up'ed my "number" by at least 20% due to the massive bull market we're currently atop of and uncertainties around Healthcare policy, but since I won't be retiring for 10+ years I can't pretend to predict what things will be like then.
      Nov 29, 2019
  • Google RefactorG
    Weird flex, but ok. Congratulations, anyway!
    Nov 28, 2019 1
    • Ultimate Software JackViii
      “Hey I am now a millionaire, other millionaires why are you still working lol?”
      Nov 29, 2019
  • Intuit bz1k7x
    Not a millionaire but say I own a $1M house with no other assets. In CA that’s a $10k annual property tax expense. (We haven’t even discussed food or other mandatory expenses). You need more cash flow to pay your property taxes. So you need to work or have investments to draw from. For many, $1m isn’t enough to stop working.
    Nov 28, 2019 0
  • Qualcomm Chubber4
    Retire and delete this app
    Nov 28, 2019 0
  • New XoAY48
    1.4m is nothing . 50k * 70 = 3.5 m (plan for 100 years).
    Nov 28, 2019 2
    • New iuhbnk
      Are you assuming the money doesn’t get invested at all? Your math is incredibly flaw. 3.5M would historically allow you to withdraw 120k/y inflation adjusted.
      Nov 29, 2019
    • New XoAY48
      And 120k is a reasonable amount for retirement not 50k. So wait till 3.5 m
      Nov 29, 2019

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