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Habibi! Anyone here
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I’ve done some modeling on where I expect to end up by 60 and I’m shooting for $20m liquid. Will have high expenses (will still be raising a family at retirement) so feels about right.
Includes everything outside of real estate holdings. Assuming a 50/50 pre / post tax mix hopefully tax rate on all draws will be low-ish (25%) which will support VHCOL retirement.
There are some folks on here that throw off large multi-million earnings and I am sure that builds wealth.
For those of us schulbs that just eke out 7 figure earnings or less, the way I have heard it described is that a healthy, consistent annual cash flow allows you to build wealth in other areas. It allows you to eg move aggressively into highly leveraged real estate investments because of things get tight your own cash flow saves the day. Or get into riskier ventures knowing that your own lifestyle isn’t at stake. Being able to take bigger risks, support cash flow intensive deals, etc allows you to growth wealth beyond from income.
I think it depends on the firm and what kind of book they were running.
100%. Just trying to get a feel for where people ended up