5 ms·

And it's not even that "easy". Say you make $1mm from the sale of some stock in a startup. First off, this is incredibly rare. Second, your take home is roughly

• toomuchtodo 9y ago
  > Good luck starting a business with only $600k. Some of the most popular, profitable YC startups (even just regular 'ol startups) were started on a fraction of $600k.
  • dekervin 9y ago
    There is a school of thought that argues that too much money at the initial stage is actually harmful.
• froindt 9y ago
  At 600k you could work a job that covers your expenses only while investing the money, and have ballpark 1.2M in a decade. Another decade could put you around 2.4M. Saving just 10k/year would massively inflate these numbers. I encourage you to think in terms of percents. The Trinity Study says you'll need about 25x your expenses saved. If you can lower your expenses by 5k/year, you can not only invest that money, but your target also lowered by 125k. That double whammy allows diligent savers to do very well and retire on a much shorter timeline than those spending 95%+ of their paycheck.
  • ataturk 9y ago
    And while that is completely lovely, it places you far short of what is necessary. The trick that is played on US citizens is the goal posts keep moving further and further out because or buying power is eroded so horribly by insidious inflation. A $50K/yr. job in the early 1980s is today's $120K/yr. job. It took me 15 years to make it to $120K, though. And most people don't even make what I make!