2 ms·
> Start out making $100k out of college. Get a 10% raise per year. Save half of everything you make over that initial $100k—like pretending you only got a 5% ra
by speedplane 8y ago
> Start out making $100k out of college. Get a 10% raise per year. Save half of everything you make over that initial $100k—like pretending you only got a 5% raise.
Do the math, it doesn't work. Starting with $100k at 20, with 5% raises every year gets you to $430k/yr at 50. You're still nowhere near $10M.
- brians 8y agoGet a 10% raise. At 50 you’re at $1.7M/yr. You save 0.8M that year, spend 900k—including paying off your kids’ education. Assuming 5% returns, your savings tick over to $11118263.51. But you’re right that it’s not pretending you only got 5% raises.