Hacker News new | ask | show | jobs
by frogperson 2393 days ago
I would tough it out for a few years. Put $2mm in S&P, then plan on a withdrawal rate of 3.5% a year. That would give you a very safe practically permanent salary of $70k which goes a long way in the Midwest or over seas.
1 comments

Define "few years". If we put some numbers and suppose after taxes and not living in their car or on the street, OP is able to save $150k a year. That would take just over 13 years to accumulate the $2M. A bit less if 7% annual total market returns continue. $70k is a modest investment income, definitely won't provide the lifestyle OP was enjoying during the accumulation phase.

The games rigged; even a top earner like OP can't break into the lowest echelons of wealth and lifestyle by working for a living.

Yes - and $2 million is still a long way from the $10 million needed if you want to be a part of the 1%. Even if you're a top performer in the rat-race, you're still a rat.

The only way to be free is to setup something that will cause an exponential growth in wealth. Usually that means starting a business, accumulating assets and then getting acquired.

>The games rigged; even a top earner like OP can't break into the lowest echelons of wealth and lifestyle by working for a living.

What are you talking about? If the OP did this, he would be a multi-millionaire before 40. That seems pretty wealthy to me.

What do you mean lowest echelons of wealth and lifestyle?