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Started By
Message
re: What’s a great net worth by 45?
Posted on 8/12/23 at 2:53 pm to Covingtontiger77
Posted on 8/12/23 at 2:53 pm to Covingtontiger77
$350
0
Posted on 8/12/23 at 3:01 pm to Sparetime
I have no God damn idea what you just said
Posted on 8/12/23 at 4:25 pm to TheOcean
It's almost like he's trying to use an ebitda multiple but instead of applying it just to business earnings he's using it for everything.
Posted on 8/12/23 at 5:37 pm to Sparetime
quote:
retire at 50= 1.5 million
quote:
60k salary x 3
, this is my kind of math. 
Posted on 8/12/23 at 8:27 pm to Sparetime
quote:
Sparetime
You win for oddest calculation / explanation of the year.
Posted on 8/13/23 at 10:52 pm to JohnnyKilroy
quote:
If you and your spouse both commit to aggressive saving from day 1 (and you have careers/jobs that pay you enough to save a bunch while still having a nice life) then it’s possible to get to that 10m mark even if you never work for yourself.
That’s not reality. Unless your making a six figure income per person, get a huge inheritance (both of which statistically will most likely not happen) or live in an insanely low COL area, you won’t make it to more than 2m unless you work until you die.
The rising national inflation rate and tax burdens are causing people to save less money than ever before. The “save as much money as you can and you’ll be rich” schtick is obsolete now and complete bullshite. It was true maybe 30-40 years ago, but definitely not now
This post was edited on 8/13/23 at 11:00 pm
Posted on 8/14/23 at 7:12 am to JasonDBlaha
quote:
That’s not reality. Unless your making a six figure income per person
Miss this part?
quote:
If you and your spouse both commit to aggressive saving from day 1 (and you have careers/jobs that pay you enough
quote:
The “save as much money as you can and you’ll be rich” schtick is obsolete now and complete bullshite.
How? I'm closer to my target number than ever.
Posted on 8/14/23 at 8:35 am to slackster
quote:
You win for oddest calculation / explanation of the year.
Thank you.
Just the way I do it, if it's odd than it works
Posted on 8/14/23 at 8:41 am to FinleyStreet
quote:
It's almost like he's trying to use an ebitda multiple but instead of applying it just to business earnings he's using it for everything.
Correct. At age 45, you are worth what you earn is the point.
Posted on 8/14/23 at 8:58 am to JasonDBlaha
quote:Take off your Meta Quest Pro and join a different reality.
That’s not reality. Unless your making a six figure income per person, get a huge inheritance (both of which statistically will most likely not happen) or live in an insanely low COL area, you won’t make it to more than 2m unless you work until you die.
Posted on 8/14/23 at 1:21 pm to RoyalWe
I’m living in reality dude. With how ridiculously high inflation is along with tax burdens, people are spending more income money on COL and taxes than they are saving money. That is a fact. If you deny that, you’re a complete idiot who still thinks we’re living in the 1970s. The days of having just a high school diploma and being able to own a house and raise four kids while working a blue-collar job are over.
This post was edited on 8/14/23 at 1:25 pm
Posted on 8/14/23 at 1:42 pm to JasonDBlaha
quote:
The days of having just a high school diploma and being able to own a house and raise four kids while working a blue-collar job are over.
What is hilariously ironic about this post, is it is the exact opposite.
Never been EAISER to make money in basic trades (electrical, plumbing, etc) while people with a college degree think they are winning by sitting at a desk making $60,000 a year with school debt.
UPS just upped all their drivers to $170,000 a year.
Posted on 8/14/23 at 2:20 pm to I Love Bama
quote:
UPS just upped all their drivers to $170,000 a year.
bullshite. The 170k salary only applies to the long-haul drivers who maxed out overtime and basically work themselves to death while living in their truck 24/7. The average UPS driver doesn’t get paid for shite - average salary is around 50k starting. Plus electricians, construction workers, linemen, and iron workers don’t get paid for shite. The pay for trades is shite unless you’re in a union, and getting into a union is extremely difficult to do.
If it’s too good to be true, especially for a job that doesn’t require a college degree, then it probably is. Don’t speak on shite you have no idea about without actually researching it and looking up more information, dumbass.
This post was edited on 8/14/23 at 3:23 pm
Posted on 8/14/23 at 2:28 pm to JasonDBlaha
quote:
The pay for trades is shite
Have you called any trade professional to do any kind of work in the last 3 years? If your answer is yes, idk how you could make the above statement. Electricians these days won't even roll out of bed for less than $100/hour.
Posted on 8/14/23 at 3:35 pm to Covingtontiger77
Here's what our (wife and I combined) Wealthfront says:
But then again, I am a first gen immigrant who came to the US on a student visa and eventually got my green card after 20 years. Got two graduate degrees along the way and joined the tech industry at the right time (think 2010), so there was luck involved too. My wife has a graduate degree too and works in big tech.
I just come from a culture where this is expected, so I don't particularly feel I have done something special or out of the ordinary. We have friends my age, who are much better off than us with like 10x our net worth (from getting into startups that hit big etc.), but we happy and thankful with what we have achieved and have no regrets. This would have been only possible in America and nowhere else, and I never forget that even for a moment.
But then again, I am a first gen immigrant who came to the US on a student visa and eventually got my green card after 20 years. Got two graduate degrees along the way and joined the tech industry at the right time (think 2010), so there was luck involved too. My wife has a graduate degree too and works in big tech.
I just come from a culture where this is expected, so I don't particularly feel I have done something special or out of the ordinary. We have friends my age, who are much better off than us with like 10x our net worth (from getting into startups that hit big etc.), but we happy and thankful with what we have achieved and have no regrets. This would have been only possible in America and nowhere else, and I never forget that even for a moment.
This post was edited on 8/14/23 at 4:55 pm
Posted on 8/14/23 at 3:35 pm to Sparetime
quote:
Correct. At age 45, you are worth what you earn is the point.
But net worth is not a present value calculation on a string of possible cash flows from wages.
Posted on 8/14/23 at 3:42 pm to stendulkar
quote:And isn't it amazing that people who do the right things can achieve this result?
This would have been only possible in America and nowhere else, and I never forget that for a moment.
Posted on 8/14/23 at 9:46 pm to Sir Saint
That’s only if you’re self-employed and know how to run your own business, which not everyone has the skills to do so. If you’re working for someone else’s company, good luck, because you’ll be breaking your back for 15-16 an hour while the GC is raking in 40-50 an hour
Posted on 8/14/23 at 10:15 pm to JasonDBlaha
I know this. You will never be successful.
Posted on 8/14/23 at 10:29 pm to JasonDBlaha
quote:
That’s only if you’re self-employed and know how to run your own business, which not everyone has the skills to do so. If you’re working for someone else’s company, good luck, because you’ll be breaking your back for 15-16 an hour while the GC is raking in 40-50 an hour
That's why the OP said great net worth. Some people are only ever going to be average or below average. Nature of the beast.
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