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If you had a net worth of a million dollars before 30 would you retire?

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1M is really low. At 30, you realistically have 50-60 more years to live (Even if you dont have a family - with family it is even harder)

If you consider the inflation rates in the last 50 years, $1M in 1970 is worth $148k today in terms of purchasing power (The prices have risen 6.74 times in 50 years). With the amount if money the government is infusing in the market, that is only going to get worse if not the same.

Assuming you invested the $1M at 8% rate and do not draw down a single penny for your expenses - a little far fetched unless you have some source of income to run your household, but still (8% is the average S&P return over the same time frame), you would have $47 million at the end of 50 years, which is $6.9m in today’s money if you discount it by a factor of 6.74

Hope that puts things in perspective of how much $1m today can really buy.

Full disclosure: I am 32 with a net worth of $1m, dont plan to retire any time soon.

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I don't think its enough I think about it regularly and many of these gains may be greatly reduced as these products become more mainstream. I would wait awhile and build it up and build up a few streams of incomes like defi, rentals, farm land etc. Then your part time job would be monitoring new ways of diverse income and growth. The growth is a key piece because that's not enough for ever and inflation will greatly lower that income over time if not. Plus as others stated health insurance can be pricey. Depends on hpe much you need to live off of.

I think more importantly why do you want to retire so bad? Maybe its time to lean on your money slightly and focus on improving work life quality

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Had that. Didn’t retire 😭

$1M doesn’t go very far, espescially if you have people relying on you.

I try to be cheap for myself, but I don’t cheap out for those who matter to me

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Nope, 15millies then yes.

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8 million after tax is my walk away point.

I think about this every single day.

likefunny

Same same same same same
Reality is we get it by: starting & selling a company, getting RSUs at a growth start up, or gambling on high risk investments. Diversification helps you stay rich but it doesn’t make you rich in the first place

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“Retire” No.
Take a risk and pursue the other passions. Yes

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At least 5M

likesmart

Net is not important, it’s about how much passive income you generate and how consistent it will be moving forward. I’d retire once I’m at 70-80k passive income

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No. I’m with the peeps in the 4-5M camp
⛺️ 🐥 💰

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At least 4M

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10-15m minimum... with half of it in crypto

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Laser eye!!

Hell no! These days that’s not enough enough to sustain retirement at 60, let alone 30

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If I had $1M in the bank I’d probably take some time off to go back to school or buy rental real estate but it’s nowhere close to enough to retire on in my mind.

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Nah - $5m maybe

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Net worth or yearly comp?

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I feel like I could just stick it in Celsius and see a APY of 12.5%. That’s 125k before tax!!

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Celsius lends out the collateral, big risk in liquidity events

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Been having it since mid 20. Still working hard. But I did take a 6 months off to travel across the country before I started my current job

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How sway?

I already do. Not retiring

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5 million and I’m out.

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No way!

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$10M

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