I ran some projections today. Assuming average long-term market returns:

If I kill myself in biglaw, I will end up with $50m in retirement.
If I go in-house or work for the government, I will end up with $25m in retirement.
If I don't work at all, I will end up with $15m in retirement.

WTF am I doing here???

likefunny
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These numbers seem incredibly high…

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How can you not work at all but end up with 15m? You have 20m now?

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Yeah but then the whole world is f*****. At which point she is still ahead.

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The beauty of compound interest is also the issue with compound interest. If you already have money, it’s much easier to get more.

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That 50m is assuming a lot.

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And if you make these kind of projections at a PE firm, you’ll end up with $500m in retirement!

funnylike

Let’s switch places.

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Are you expecting to make partner?

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A job is just a nest egg. Shouldn’t be the determining factor in how much you end up with in retiring. Nor should you be working for retirement. That’s a minuscule/trivial/meaningless factor in the scheme of all the things that are important in life. Enjoy the now. (As a lay in bed all day paralyzed by last weeks work load)

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Could you explain how you got to $50M? Are you assuming partner level compensation in the future?

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OP is assuming partner. If you can survive until your 50s, I think $50mm would be possible.

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This actually makes plenty of sense, fwiw. Let's say you're 30yo with 2m NW and then make partner and save 500k/year, by 40yo you've got 9m. Repeat that and by 50yo you've got about 25m. You can see where this goes.

If you save 150k/yr instead, you've got about 6M at 40yo and 15M by 50yo.

If you just sit on 2M for 30 years (I think you'd need a job to at least pay expenses in the meantime), you'd have 15-20M.

So it's not crazy.

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I agree with this. And I assume OP meant retiring at 65, not in his 50s.

I just love the "I will have X if I do Y" calculations as if there is a solid guarantee with no risk. Clearly this post was written by someone who has yet to experience "life's rich pageant" and the surprises that await them. I have to assume that they either do not practice family or personal injury or med mal...or at least have not paid attention to what their clients have told them.

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50M sounds great if you can stay healthy and stay alive.

I’d go with the 15M but I kinda like to work.

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