2 ms·
You're completely missing the point. > being frugal ... 30k in annual expenses Requires budgeting and is a bit of a standard of living lower than most people
by astura 8y ago
You're completely missing the point.
> being frugal ... 30k in annual expenses
Requires budgeting and is a bit of a standard of living lower than most people would prefer. Especially if they got kids.
Plus how you going to live in SV on $30,000 a year when rent alone is that much?
> 7% average returns
So requiring those 10 years are during a bull market.
There's a big difference between "work at a startup for a good salary living an average life for 10 years" and "live in a shoebox with 10 other guys, eat nothing but lentils and beans, and own no possessions for 10 years"
- thucydidesofusa 8y ago>Plus how you going to live in SV on $30,000 a year when rent alone is that much? By working for one of the companies that offers: * a shuttle (so you don't need a car) * food perks * a phone And if you're taking the shuttle you can live in cheaper areas or select the cheapest areas available and/or live with roommates. You can get below $24k/yr on rent and easily live on a $6k/yr or $500/mo budget.
- sobani 8y ago> > 7% average returns > So requiring those 10 years are during a bull market. If your bull market includes the 2008 crash, then yes. "The last decade provided an average return of 6.88% in the stock market. The lower return takes into account the tremendous loss the market took in 2008." https://www.creditdonkey.com/average-stock-market-return.html https://www.creditdonkey.com/average-stock-market-return.htm... (question 2)