This is authentic post unlike the typical fake or those humblebragging blind posts. I made 3M by working 10 years in the tech industry. 3M is split into 600K in 401K (roth and rollover IRAs), all invested into S&P500 and 2.4M in savings account at 4.5% interest rate, generating ~9K a month cash. Why is it at savings account but not invested into index funds? I will invest lump sum into VTSAX after I get the June interests. I was being paranoid thinking this whole bubble would burst last two years and lost out on big gains. My 2.4M was increased by only 100K past year. I don't have any loans or own any houses. This cash is all liquid. I am 35M but plan to retire soon. I will move to EU for free education and healthcare to avoid these big costs in the US. I think I have more than enough to retire for my lifestyle and draw money for eternity. I don't desire big house, fancy cars, or hot women. I just want to find a good looking (=most healthy, normal weight, good hygiene women), reasonable woman and travel/live with her. My current job is icing on the cake to have another few hundred Ks added to my portfolio, which I will achieve <1 year. Should I retire now and go explore the world and live off of my savings? I feel slowly burnt out in this rat race and I feel it has diminishing return for me.
Damn what was your tc progression
I looked at my previous W2s of the past 8 years, it was like 200k->235k->290k->340k->740k->940k->1.16M->1.26M = 5.1M gross roughly 35% effective tax rate over the years -> 3.3M after-tax net income. I must have used 300K last 8 years paying rent, traveling eating out etc..
Even more impressive. Single? Also tell us the story of the jump from 340k to 740k
Congratulations 🎉
You can live comfortably in Europe on your monthly proceeds. Buy a place in Italy for 100k, enjoy the sun, nature, start training something or take hobbies, meeting new people, travel - I personally prefer camping with a mobile home instead of hotels or airbnbs. Amazing position to be in, I will do all that if I live long enough to retire. Although actually doing it now in between work..
Work is fun and fullfilling. You will be bored without it. 3m is not nearly enough to retire on, especially if you enjoy travel.
There are so many more fun and fulfilling things man. Just traveling alone, I would say we can travel for 5 years, really visit most of the places on earth that are interesting at a relaxing pace. Try all the local food + entertainment, amenities etc. Essentially travel at your own pace, get rid of jet lag, stay few months to half a year in each continent.
As someone who took a year off and did what you desire I can tell you first hand there is not. Traveling is great, would recommend! It's just very hard to do on a very low budget like 9k.
You almost had me with "an honest post" until your desire for "not hot but good looking women." Why can't it be "a good human being"? Seriously.
Yes what I meant by that is most guys especially when they made some money compared to peers, they want 9/10 or 10/10 woman (i referred to as hot). What I meant with good looking is 7/10 but healthy, good weight, etc. Most healthy women are good looking to me btw.
yLwh73 - “most healthy women are good looking to me”. This sentiment is so simple, but it means so much and I wish more men shared it. Women destroy themselves trying to be perfectly beautiful so that they are not alone. And it’s all a big joke because all of us grow old and ugly and eventually turn into dirt or ashes. Doesn’t matter how beautiful you are. Age and death awaits us all. Better to find an attractive human to love than strive for a some perfect object. Love is so much sweeter than endless FOMO, fighting, and chasing for some fleeting moment in time with a shiny object.
A genuine question: are you concerned at all about FDIC deposit insurance limit on that 2.4m savings account?
Do you speak the language of that Europe country? And have visa to stay there? Also any family there? Otherwise will be pretty boring
I will speak English in most European countries. There are many countries where you can just migrate to. E.g. Netherlands DAFT, all you have to do is open a business account for 4.5K euros and you get 3 year residency which you can extend. Doesn't mean you have to actually stay there. Or portugal, spain etc.
Disagree, European cities are exciting and all speak English. Very easy to get to the next one by plane or train whenever you want Just make sure you know how to say hello, thank you, and do you speak English in the native language so you don't come across as a rude American
What is stopping you from traveling while employed? Airbnb offer very flexible working arrangements. You can be a digital nomad if you like, and keep your TC and benefits.
let us know what you end up doing
You did great, another 5-6 years, you are set.
Exactly this ^. 40’s is the new 20’s.. you are doing @op. 35 might be too early to retire unless you have a plan like doing something on your own. Work for another few years or figure out what you would really wanna do next 10 years n then FIRE
Oh, OP make sure hit the gym