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Can anyone guess how much Mint's founder will walk away with? (from crunchbase it looks like they took about $30M in funding and sold for $170M) I've always fi

Can anyone guess how much Mint's founder will walk away with? (from crunchbase it looks like they took about $30M in funding and sold for $170M) I've always figured $10M was walk away (from life) money. ($2M to buy a decent house - $8M to invest so that even with a modest return of 5% you'd still be making about $400K a year) I'd say that's a great 2 years of work, I don't need Google Money and I'd be fine with that.

byoung2 17y ago
I'd really like to know this too. I could walk away with much less than you, apparently, but my needs are small.
paul 17y ago
5% isn't as modest as you think once you take into account inflation and taxes, and the fact that the stock market isn't going to magically go up 10% every year (as many people erroneously assume). Living off of 2% of your assets is a safer and more sustainable assumption.
- mechanical_fish 17y ago
  True. But I, for one, would be perfectly happy with $160k per year. ;)
- HeyLaughingBoy 17y ago
  Not to mention that if your house is already paid for, you can live on much less than 5%. Housing is far and away most people's biggest expense.
- sadiq 17y ago
  I did the numbers a few months ago just out of curiosity. If you're buying TIPS (which returned 2% above CPI) and want 50 years of stipend out of your capital, you can get a 3.6% return above inflation. As in, $1m should get you $36k/year for the next 50 years, leaving you with nothing at that point.
- run4yourlives 17y ago
  So a buck fifty a year with no mortgage and (I would assume) a really nice house... seems pretty decent to me - :)
skinnymuch 17y ago
Would you really be gaining 8% per year? I'm not sure how returns work when you're talking about millions of dollars. I assume you are going to leave 3% behind per year for inflation. Just to be safe, I'd rather say you take 3% out each year which would still be $240k, so it's still a lot.
hyperbovine 17y ago
$2M to buy a decent house Friend, it's time you moved out of the Bay Area :-)
- mikeryan 17y ago
  lol true words.

byoung2 17y ago

I'd really like to know this too. I could walk away with much less than you, apparently, but my needs are small.

paul 17y ago

5% isn't as modest as you think once you take into account inflation and taxes, and the fact that the stock market isn't going to magically go up 10% every year (as many people erroneously assume). Living off of 2% of your assets is a safer and more sustainable assumption.

mechanical_fish 17y ago
True. But I, for one, would be perfectly happy with $160k per year. ;)
HeyLaughingBoy 17y ago
Not to mention that if your house is already paid for, you can live on much less than 5%. Housing is far and away most people's biggest expense.
sadiq 17y ago
I did the numbers a few months ago just out of curiosity. If you're buying TIPS (which returned 2% above CPI) and want 50 years of stipend out of your capital, you can get a 3.6% return above inflation. As in, $1m should get you $36k/year for the next 50 years, leaving you with nothing at that point.
run4yourlives 17y ago
So a buck fifty a year with no mortgage and (I would assume) a really nice house... seems pretty decent to me - :)

skinnymuch 17y ago

Would you really be gaining 8% per year? I'm not sure how returns work when you're talking about millions of dollars. I assume you are going to leave 3% behind per year for inflation. Just to be safe, I'd rather say you take 3% out each year which would still be $240k, so it's still a lot.

hyperbovine 17y ago

$2M to buy a decent house Friend, it's time you moved out of the Bay Area :-)

mikeryan 17y ago
lol true words.