I understand this post might come out outlandish but I want to gauge what other mid 30s / 40s young multi millionaires perception on money is. I find myself constantly worried albeit having close to 3M in stock and investments but given the job market and constant insecurity of losing the gravy train once the markets dry up. Was wondering those that crossed the multimillion mark what keeps you going in this rat race? Whatโs your target net worth and when are you planning to call it a day? TC - 345K Single Earner w/ 2 kids. 35 years old. NW 2.9M (still renting)
How the hell did you manage to build 3M with 350k ? Congrats.
Iโm at 2M with 350K TC after 5 years. Smart investment strategy, frugal lifestyle, some luck.
Good for you. But if you live in the Bay Area and save 150k annually you'd still need to have more than 30% growth each year. That's a lot of luck. This is assuming you had 350k all years
How much investment vs tc?
I hold $40K in HYSA rest in investments (taxable+retirement)
38yo, 9.7M NW (9.2 in stocks), 600 household income, family of 4 I have no target NW. I'm going to be a SWE as long as I can get hired. Maybe till my dying day. Work gives me stimulation and purpose; don't know how I'd stay entertained without it.
TC 430k, NW 2.3M, single I still work because I'm pessimistic about the future, so I want a big safety cushion, and 3M is my target. But if I get laid off, I won't stress too much about it.
$3.6M HH now. Planning to quit high TC after 3.8M
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Thank you! I need to start rewiring my brain to enjoy some
I donโt understand how itโs possible to have any financial stress with that kind of money. I stopped worrying about money a long time ago. 43 years old, NW 2.5M
Insecurity about money started after having kids, my old man struggled to get me educated so I guess I am carrying that burden to ensure my kids have it set
Maybe the stress is becoz u don't hold money in diversified index funds like spy500 and also not having a house. Home provides a bit more stability for kids avoiding need to move constantly. Also I might be stressed to hold everything in individual stocks even at 3m nw
Buy a house
Matter of luck for most part (as I mentioned the gravy train). A combination of successful IPO, 40%+ savings before kids and low cost basis on Microsoft initial grant @$130ish which I mostly held on.