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These numbers seem incredibly high…
How can you not work at all but end up with 15m? You have 20m now?
Yeah but then the whole world is f*****. At which point she is still ahead.
The beauty of compound interest is also the issue with compound interest. If you already have money, it’s much easier to get more.
Coach
That 50m is assuming a lot.
And if you make these kind of projections at a PE firm, you’ll end up with $500m in retirement!
Subject Expert
Let’s switch places.
Subject Expert
Are you expecting to make partner?
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)
Could you explain how you got to $50M? Are you assuming partner level compensation in the future?
OP is assuming partner. If you can survive until your 50s, I think $50mm would be possible.
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.
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.
50M sounds great if you can stay healthy and stay alive.
I’d go with the 15M but I kinda like to work.