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Conversation Starter
Hi all
Few months back, I accepted @pwc india's offer but didn't join.
Now I was referred for @pwc US but as I was applying for the job, the portal shows previous application with status as offer accepted.
Will pwc consider me again?
Does anyone have any idea on this?
Has someone accepted the offer but didn't join and later joined again after some months?
Please let me know
Any inputs will be helpful
Thanks!
EY Deloitte
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Mentor
Having 25x your annual spending as some sort of savings is usually the point where you can pull the ripcord.
So if your annual spending $120k per year, then you probably need $3M invested.
I’d also note that while including any real estate equity is common in your NW evaluation, it usually isn’t helpful in calculating your FIRE number unless you plan to sell the house and move abroad for retirement.
Agreed regarding primary residence and any other vacation homes. Still would include any RE investments.
Seeing stuff out here like this reminds me I’m poor lol
$50k/month income?!
I mean, thats ‘only’ 600k a year, if you are both high performing consultants, or in tech 300k/year each is easily doable. I am more impressed by $120k/year spend - good job!
$2.5mil. Then 80-20 (fixed income vs. equity)
Age?
32 both
Subject Expert
If I spent $120k a year, and that number were inclusive of healthcare, infrequent expenses, taxes, and so on, I would feel OK retiring with a $5 million portfolio for retirement, i.e. a 2.5% initial WR.
With, of course, either a paid off house not in the portfolio, or rent/mortgage included in the $120k. And children's college paid for separately, if required. And the same for other bequests, other than at the end of life.
A 2.5% WR along with a paid off house and college funded elsewhere? That is beyond conservative, even if returns are below average. At a that WR the average balance after 30 years would be many many multiples of the starting balance.
Mentor
Does your $120K / year include spend on kids? Typically having children increases spend quite radically (e.g. cost of daycare / private education, healthcare, sports, etc.) although you can also choose to go public and hence spend a lot less.
Even so, you'd still end up spending more on larger housing, higher food / travel costs, etc. simply there's more mouths to feed.
If you were to pull the plug entirely (and not work for income anymore), then a conservative approach is if your annual household spend is 2% of NW or if your passive income is at least 1-1.5x annual household spend. Ideally you'd also have at least 1-2 years worth of household expenses in cash / near cash so that you can tap into it during the downturn years or in case of unexpected large spend (e.g. house/car repairs, medical emergencies, etc.)
If you plan to CoastFIRE and downshift to more "chill" jobs (with potentially lower salary); you don't need to be so extreme - but ensure that what you already have saved / invested will continue to grow and that your more "chill" incomes are able to cover current expenses with a little leftover to top up your emergency funds. Your emergency funds should ideally at least 6-12 months worth of household expenses in case one or both of you lose your jobs and need time to find another.
No kids not included this is roughly our spend as of today with a bit of fluctuations
That's up to you. Net worth means so many thing here. What liquid assets do you have? Most people have a net worth of $800 with most of that from their home. Do you intend to sell your home when you retire and live on the money? Things aren't adding up.
You earn $600K a year which is an insanely great career, you are in the Top 1% of wage earners. Which begs the question, with that kind og income, why isn't your net worth like $8M? Take home pay around $400K maybe, no way to know because I don't know what state you live in. So after taxes and spending, you have $280K to put into savings. Do you have a 401K? I'd at least do company matching.
The problem here is you are about to get married, and expenses are now shared so you need to stop spending $120K every year and get serious. You want a family but you catch do that until you learn to rein in spending. Forget retiring for now. Based on your history, you need at least $10M in retirement savings to afford your lavish lifestyle.
And here I was thinking 120k a year is low. That covers rent for a 2B a year in HCOL, and a little remaining for food.
How is your spend only 120k, do you live in LCOL and travel for work? My rent alone is 65k a year for 1B.
When you have kids, your spend will increase.