2024 Presidential Election
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🇺🇸 Presidential Debate Right Now 🇺🇸
2024 Presidential Election
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The debate was painful to watch 😢
2024 Presidential Election
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How many genders are there?
India
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Beware of these types of girls in USA.
2024 Presidential Election
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I don’t understand how Biden lost the debate
so the fatfire crowd use to aim for $10M networth working in tech. With inflation and the runup in tech stocks is $20M the new goal? me: 50 yo, $15.4M networth, family of 4 with 2 kids, living in high cost of living city. Aiming for $20M before I call it quits
You will probably never have enough money. You are 50 already mate, you will most likely die with the money in the bank. Keep going only if that gives you joy! You are past the point of working to chase some random number.
I don’t know what you all smoke, to be top 1% in USA one needs $5 million . https://www.cbsnews.com/news/wealth-1-percent-5-8-million-knight-frank-report/ Why do people have to flaunt with unnecessary questions 👐
That’s for entire America. Need much more to be 1% in any area that’s actually desirable to live in hcol/vhcol
I've calculated to be comfortable in HCOL with 2 kids (being sent to private school) + house + vacation, I would need $7M. So I'm aiming for $10M to add a buffer. I don't know why you would need $15M-$20M unless you want to live a very luxurious lifestyle.
Can you share your calculations?
I'm not comfortable doing that for doxxing reasons. But it's pretty simple. Assume you pay for big expenses outright (house, car, whatever). Calculate the cost of private education in your area (check historical increases in this cost and then calculate an estimated future cost), multiply by the number of kids and ages. Assume 4% drawdown. Add in your living expenses, and other big expenses (vacations, etc). As long as all of that is <4% of your portfolio, you're good. I calculated $7M in VHCOL, but maybe my lifestyle is just not as crazy as others I don't know. Shooting for $10M in case I f'ed up the math somewhere.
For me it’s gone down because interest rates are so high. $10m in 20 year US treasuries earns you $450,000 a year exempt from state income tax. Used to earn you only $75,000 if you locked in during last decade.
Remember this isn't inflation-proof 450k, though. Not that it matters for a 50YO with 15M in the bank.
Correct, you earn at 4.5% for 20 years while inflation is currently at 3.3% and going lower. If anything bad happens the federal reserve is going to pump your bonds and you can just sell your bonds at a profit.
Depends on your expenses. I can’t spend a million a year for the 25 years till death around 75
Death at 75? That’s quite young
US male life expectancy is 74.8. https://www.cdc.gov/nchs/fastats/life-expectancy.htm
At 20M you will think 40M is what you need. It is a never ending game, the rat race.
What kind of a moronic keeping up with the joneses are you. Math hasn’t changed on 25 * annual expenses. Also, nw doesn’t matter as much retirement corpus of investable/invested assets.
How are you at that NW with Atlassian TC 😭
I’m confused and broke NW 500k 🥜🥜🥜🥜
No need for more than 10 still. 10M is 400k income, if you can't figure out how to live on that even with a family in HCOL you've completely lost touch with reality, or want to live in extreme high end luxury which sure go for it, that's a decision.