4 ms·
I’m 32, not married, and my net worth is ~$1.3M, all invested in Vanguard index funds. Started at $0 right after college (no student debt luckily) and got ther
by deanmoriarty 8y ago
I’m 32, not married, and my net worth is ~$1.3M, all invested in Vanguard index funds.
Started at $0 right after college (no student debt luckily) and got there through savings and frugality and good employment options in the Bay Area.
The cost of living is insane over here, but if you are not pretentious, financially disciplined (and in my case don't want kids), you’re going to be easily saving 6 figures a year, which you probably couldn’t in other more reasonable areas.
- mortivore 8y agoThat's a good nest egg for your age. Are you part of the FIRE movement(not sure how else to phrase this)? If so, what are your plans? If not, same question lol.
- deanmoriarty 8y agoFIRE is one of the things I'd like most in this world, so I'm definitely trying to pursue it, but I'm very different than the crowd you'd find on reddit or other online communities: I don't assume an happy path that will allow me to FIRE as soon as my expenses are 4% of my nest egg, I see that as too risky. I am personally using a conservative estimation that my portfolio will just keep up with inflation (0% real growth), and since I don't plan to leave any legacy, my math is simple, adjusted for inflation I can withdraw PORTFOLIO / (90 - CURRENT_AGE) every year. Based on that math, I still have a long way to go.