“Science” says chasing TC is bad

Amazon
PepeLaugh

Go to company page Amazon

PepeLaugh
Dec 29, 2020 16 Comments

https://www.cnbc.com/2020/06/30/gary-vaynerchuk-young-people-should-want-to-make-70000-not-millions.html

Idk about you guys but 70k isn’t going to buy that Ferrari and Yacht you always wanted.

And 70k isn’t enough to retire on, so you’ll be slaving away in the rat race until your 80.

Money may not buy happiness, but it buys freedom.

TC 440K

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TOP 16 Comments
  • Lol it’s easy to say this sitting in his ivory tower. 🙄
    Dec 29, 2020 0
  • Google
    Tlon Musk

    Go to company page Google

    Tlon Musk
    This kinda goes against the “hustle, grind, no days off” rhetoric Gary usually pollutes the world with.

    Perhaps he has realised how much of a shill he has become.

    🍿
    Dec 29, 2020 1
  • Apple / Eng
    yuriy

    Go to company page Apple Eng

    PRE
    Amazon, Google
    yuriy
    Is it just me, or is this Vaynerchuk guy's public speaking style extremely annoying?
    Dec 30, 2020 0
  • Apple
    birdodoggo

    Go to company page Apple

    birdodoggo
    The 70k number has I think been thrown around before as some “law of diminishing returns” of happiness. I think it’s bullshit - I could have lived fine on 70k single no obligations in a low cost of living place but it’s nothing close to what you need for a full and viable life in a city especially if you want to travel and go to concerts etc.

    If they mean 70k after tax in hand, that’s slightly more believable - my salary is 185k, but with 401k, HSA, backdoor 401k, espp, taxes, and another 2k/month to long term savings, I live off of around 60k-70k cash in hand a year for rent and expenses and fun. I’m happy with that. But it’s because I’m also able to make so much of my money go to work for me. I invest everything else (RSU, espp, bonus) in long term wealth generation, and I expect to have a huge nest egg in a decade or two and be able to retire early or not worry about money.

    You can live on 70k a year probably if it’s cash in hand but that leaves not very much to invest. Can probably do some 401k and that’s it. You’ll be able to retire when you’re old. To me money means options. I want more options than that life has.
    Dec 29, 2020 0
  • Coherent Logix
    Alpha_7

    Coherent Logix

    Alpha_7
    I have a decent number of friends who make a lot less than 100k & they all seem to be much happier than most people on here.
    Dec 30, 2020 2