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I would chase a lifestyle and freedom more than a number. What are the chances will be miserable busting your ass just for a number? As opposed to finding a job / life combination that gives you good personal energy and happiness.
I'd rather make $250k - 300k in perpetuity, have a schedule I control, a job that I find interesting, time to spend with family and friends.
You may be lucky and feel fulfilled, find personal energy on the journey to $800k. Most will not. They will be unhealthy, unhappy, empty.
My $0.02.
You really need to ask yourself why do you need that amount of money. Whether it is luxury, security, or helping out less fortunate loved ones, there’s little chance that scaling up the AMOUNT will bring the desired outcome. There’s always another boat, perceived risk or cousin in need. There’s little correlation between income over a certain amount to happiness, and if there is, it is inverse at a certain level.
In order to also be helpful, I think it is hard to make your WORK be valued at $1M per year. I am, presumably, on the “fast” track to do that, MBB with partnership 8-10 years down the road, but it is SO far from certain. Literally anything can flip the boat, and even if I will want to get there, and not burn out along the way, any change I can’t control can send me back searching, like economic environment, a bad case that throws you into a spiral, or a partner that has their sights on you. There’s no guarantee even if it looks like there is.
Once you’ve embraced the uncertainty, you understand that nothing is guaranteed, and you understand that in addition to the value of your WORK there’s the value of your CAPITAL. Begin living way below your means today, build up equity and invest in ventures that produce additional value, and then invest that value. It’s not certain, but it’s closest to it, and you will be able to get close to that goal in 10 years time.
In short, maximize your current career track income while minimizing time invested, and use the free time to create additional revenue, until it shades the day job. Save ALOT, and keep your eyes on the prize. Good luck!
Financial Independence Retire Early
Government contracting. Me and my husband have a long-term goal of doing this. Idk if anyone mentioned this already. Bon chance!
From my understanding there are contracts where you could leverage your project management and tech expertise. You just need to know how to respond to RFPs.
Go join a consultancy where you can actually make that kind of money. There’s only a few, and everyone knows which ones they are. All will require you to make equity partner level.
He will also be working his life away for a chance just to even make that money - most won’t make it to be partner.