Now I Understand why people here complain about 500k TC
Nov 8, 2021
65 Comments
Almost half goes to taxes. COL goes up. Housing keeps going up. Taxes keeps going up. How are we gonna retire or buy anything?
TC 370 (Tax 43% NYC)
comments
Other than that you're spot on about relative living costs.
I worked at a startup and they had a meeting with a financial company where they joked about how $80k was bay area min wage... And they were paying most of the people in their company less... In other parts of the country that's a healthy wage.
You are always in a position to bring your COL down. Although , it might mean going outside your comfort zone. Example : dont buy a Mercedes / BMW / Audi and get a Corolla, bam , there you go , you just saved 20K.
So I can retire at 50 and can’t travel anywhere because my kids are in school.. so I sit at home all day working out/watching TV? Hard pass.
I’ll easily retire with a paid off home and 5+ million in cash after my kids graduate from college at 55-60
I probably have 3-5 years to travel before I start to have kids.