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Get out of your bubble. There's a whole world outside of Bay Area/NYC, where $150-200k/y is still a batshit crazy amount of money and $1M can last you happily e
by quantumofalpha 5y ago
Get out of your bubble. There's a whole world outside of Bay Area/NYC, where $150-200k/y is still a batshit crazy amount of money and $1M can last you happily ever after, even with kids. Accumulating $1-2M NW is totally within reach for most employees at US FAANGs after a decade or so of work.
- offtop5 5y agoA good friend of mine lives in Asia off 400$ or so a month. If I was to retire near him I'd be able to make a million last for a very very long time. Whoever says 200k isn't a lot of money is full of crap. You can live very well off 70k in most of America.
- monktastic1 5y agoI'll partly agree. I live in a HCOL city, and $200k is way more than enough, even with a kid. But $1M with a safe withdrawal rate of 3.5% gets you $35k/yr, which won't leave you "happily ever after" anywhere in the US with kids, particularly with healthcare concerns. Of course, one could move abroad, but that's not always feasible.
- darkwizard42 5y agoAgreed and I'd go so far to say just 5 years at FAANG (assuming you join at a mid-level eng, not L3/L4 fresh university hire) would get you into the $1-2M NW.