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Thanks for actually doing the math! =) There might be a mistake with the $90k/yr leftover though. If you lose 35% of $250k/yr to tax (87.5k) and need to save $

by rawnlq 11y ago

Thanks for actually doing the math! =) There might be a mistake with the $90k/yr leftover though. If you lose 35% of $250k/yr to tax (87.5k) and need to save $93k each year, then you should only have about $70k/yr left. This is 5.8k a month to support two people which is barely doable for me personally (according to my past spending trends on mint.com).

basseq 11y ago
I'll blame rounding. :) It's not easy, but it's doable. There are other ways to reach a million in 8 years, but this is a pretty sure-fire one.
- rawnlq 11y ago
  Care to elaborate? =P
  - basseq 11y ago
    This is going to sound obvious and/or snarky, but: - Explore other investment types and vehicles (e.g., optimize for cash flow, real estate, increased risk) to accelerate asset growth. - Make more money somewhere else (including taking advantage of simple stuff like 401(k) matching). - Assume you're going to make more money later (and save more money later) / get a better job. - Hope for a huge exit / win the lottery / rich uncle inheritance.