4 ms·
Imagine being paid $1-$2m a year but not liking the how the culture of a company you'd been at for decades was changing. Would you quit? When?
by hiddencost 3y ago
Imagine being paid $1-$2m a year but not liking the how the culture of a company you'd been at for decades was changing. Would you quit? When?
- deleted 3y ago[deleted]
- willsmith72 3y agoI only need 100k/year post-tax to be happy. If I can take 4% out per year, that's 2.5m total I need. So give me ~4 years to make that up after tax with some buffer, and then it's a matter of time. If i still enjoy the time spent working, stay. If not, leave.
- dmoy 3y agoPedantic notes: 1. The 4% number comes from the Trinity study, which found that 95% of the time you have >$0 after 30 years. If you're >30 years from death now, a more appropriate benchmark might be 3% or possibly 3.5%. 2. $100k/yr post tax is more than $100k/yr pretax, even if it's mostly long term capital gains and dividend taxes. 3. Health insurance $$$. So the number for you is probably a little higher maybe $5m to switch to 3% and add an additional $50k for tax and health insurance costs. But yea the general point stands. Someone working as a director probably pulling >$1m/yr, with a long tenure, almost definitely has way over that amount. (I wouldn't be surprised if it was $20m+)
- anticorporate 3y agoI can't speak to making that much money, but I did leave a job where I had worked most of my career, making more money than I had ever imagined making, due to a changing culture. The hard part wasn't the money at all. The hard part was that I had let the company culture become a major part of my self identity. It sounds like the author didn't let that happen to him. Kudos. I wish I hadn't.