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by HiLo
3892 days ago
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Considering most on average do fail, most people will never recover from this financial damage before they die, particularly later in life when the differences are most pronounced and the marginal dollar is much more valuable due to rising health-care cost and dwindling income. So finance says you're wrong on that one. You really can't recoup the money. $1,000 invested at 23 is worth $37,165 at 75, assuming 7.2% historical equity risk premium. $1,000 invested at 30 is worth $22,844 at 75 with the same 7.2% growth. Your comment seems to imply that people can strike it rich if they just pull the level enough times, but your comment is actually false for the majority of people that read your post. |
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What I was trying to say is money can mostly be made up even if you don't strike it rich. Same amount of money? Maybe not. But enough to have the same order lifestyle as you would otherwise? Definitely. I was trying to allude to this by referencing other professions where they don't really start until their 30s.
Consider also that you seem you think of money as something that you accrue strictly as a function of time. If you are doing retirement planning strictly based on your 401k, then you probably aren't planning that well. Lots of things that worked for our parents won't pan out well for us. Ask non-STEM majors looking for jobs in the past decade.
Anyway, starting a startup solely to get in the game/get rich is a losing proposition modulo how connected you are.
My point was the negatives, as a founder, are probably constrained to monetary ones. Which at the end of the day isn't that bad of a deal. It's just money. Which makes it a very well leveraged bet IMO.