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Forum » Having 3 million USD + Liquid on top of your own house and car is GOAT level
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Thread: Having 3 million USD + Liquid on top of your own house and car is GOAT level

post 1663129863 06-19-2022, 04:16 PM
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Having 3 million USD + Liquid on top of your own house and car is GOAT level

working towards that goal by the time im 40.

At that point u are superior to any male working 9 to 5, free to pursue any goal, able to get any women not banging a billionarie
post 1663130153 06-19-2022, 04:23 PM
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Its not attainable

Kill me pls
post 1663131273 06-19-2022, 04:50 PM
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Originally Posted By buwbs⏩
Its not attainable

Kill me pls
Theres plenty of 40 yr old indians with a 15 year career track in big tech who are well worth 5M+ net worth.

They got in at the right time. Find your situation and time.
post 1663131403 06-19-2022, 04:54 PM
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Agreed,

But I prefer to be on welfare srs
post 1663132383 06-19-2022, 05:15 PM
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I somewhat agree. 5M is better and still achievable.

The problem is shifting goalposts. The type people who are able to approach or achieve this level are also the type to then say "OK now I want 10M" and so on.
post 1663132433 06-19-2022, 05:16 PM
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I could retire on $1.5 million tbh.

Unless you work a damn good career e.a. sales or investment banking, you will never see that type of money till you're 65. Not even STEM will see $3 million until 65.

The only possible way is if you saved $100k/year for 10 to 15 years then you could retire in your 40s.
post 1663132513 06-19-2022, 05:18 PM
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Originally Posted By Redundanteater⏩
I somewhat agree. 5M is better and still achievable.

The problem is shifting goalposts. The type people who are able to approach or achieve this level are also the type to then say "OK now I want 10M" and so on.
$5 million isn't achievable for 98% of folks. We're talking $300k salary to retire in your 40s with $5 million liquid. Most people will be lucky to touch $150k.
post 1663132623 06-19-2022, 05:20 PM
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Originally Posted By MikeLowrrrey⏩
I could retire on $1.5 million tbh.

Unless you work a damn good career e.a. sales or investment banking, you will never see that type of money till you're 65. Not even STEM will see $3 million until 65.

The only possible way is if you saved $100k/year for 10 to 15 years then you could retire in your 40s.
Specialist physician (or damn busy and efficient generalist) is likely easier to achieve and definitely more secure than FAANG software engineer or bulge bracket IB etc. Make 500-750K+, live well on less than half of that, save 200-300+K/yr in an index fund for 10-15 years.
post 1663132943 06-19-2022, 05:27 PM
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Originally Posted By Redundanteater⏩
Specialist physician (or damn busy and efficient generalist) is likely easier to achieve and definitely more secure than FAANG software engineer or bulge bracket IB etc. Make 500-750K+, live well on less than half of that, save 200-300+K/yr in an index fund for 10-15 years.
And most of the population either doesn't have mental capacity for that or care to be in that field. The average joe is much much better off building a business and expanding if they want to possibly reach $5 million

I know this is the misc who are all God tier moneymaxxers but saving $5 million liquid in your 40s isn't easy for 98% of the population. Not for trades, professors, STEM, etc. Only the elite will get to that point.
post 1663133233 06-19-2022, 05:33 PM
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Originally Posted By MikeLowrrrey⏩
And most of the population either doesn't have mental capacity for that or care to be in that field. The average joe is much much better off building a business and expanding if they want to possibly reach $5 million

I know this is the misc who are all God tier moneymaxxers but saving $5 million liquid in your 40s isn't easy for 98% of the population. Not for trades, professors, STEM, etc. Only the elite will get to that point.
Trying to save your way to 5 million cash is just dumb but you could invest your way to that in 15-20 years. Actually with Crypto I'd say all it takes is one good pump.
post 1663133283 06-19-2022, 05:36 PM
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Originally Posted By TugOfPeace⏩
You could conceivably have a net worth of $2-3 million by 40 if you just maxed out your 401k, roth IRA, built equity in your home, and saved/invested wisely.



Maxing out your 401k from 22-40 would net you $1 million
Maxing out your roth IRA from 22-40 would net you $300k
Saving/investing could net you quite a bit as well

Realistically you'd get closer to $2MM though.
So I just looked up max contributions. $20500/yr for 401k and $6000/yr for Roth IRA. That breaks down to $2200/month. How much would you need to make to comfortably max both those and still save? You'd have to keep your living expenses as low as possible which means either make a big salary or away from expensive cities. I'm guessing 85k salary.


Honestly, what you're saying sounds doable.. But I can't imagine most 22 yr olds make enough to do all that. Maybe 26 - 44
post 1663133613 06-19-2022, 05:44 PM
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Originally Posted By MikeLowrrrey⏩
And most of the population either doesn't have mental capacity for that or care to be in that field. The average joe is much much better off building a business and expanding if they want to possibly reach $5 million

I know this is the misc who are all God tier moneymaxxers but saving $5 million liquid in your 40s isn't easy for 98% of the population. Not for trades, professors, STEM, etc. Only the elite will get to that point.
Agree business (ownership/entrepreneurship) can also be excellent in fact far exceeding the above, but it is also far less certain.
post 1663133693 06-19-2022, 05:46 PM
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Originally Posted By guest89⏩
Trying to save your way to 5 million cash is just dumb but you could invest your way to that in 15-20 years.Actually with Crypto I'd say all it takes is one good pump.
This. I got into a presale on a ****coin that at one point was worth over 8M (obviously I valued it at zero on my personal balance sheet). It's now worth FAR less, but I'm still loving dumping on retail for still-significant gains each and every unlock. Free money, srs. Also not reproducible at all and not something I expect to ever happen again. Sure is fun tho!
post 1663133953 06-19-2022, 05:51 PM
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Originally Posted By Redundanteater⏩
This. I got into a presale on a ****coin that at one point was worth over 8M (obviously I valued it at zero on my personal balance sheet). It's now worth FAR less, but I'm still loving dumping on retail for still-significant gains each and every unlock. Free money, srs. Also not reproducible at all and not something I expect to ever happen again. Sure is fun tho!
I've read a couple redditors made a few million off crypto and then retired. A man can dream. For me it's moreso the option to work
post 1663134083 06-19-2022, 05:54 PM
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Originally Posted By MikeLowrrrey⏩
I've read a couple redditors made a few million off crypto and then retired. A man can dream. For me it's moreso the option to work
Good for them. Personally, I know myself well enough to understand I receive many non-financial benefits from work. Financially I am set - once I achieved FI, I took my foot off the gas a bit and spread my focus around to some other projects and interests. There's a deep comfort in knowing that no one in the world can tell me what to do. That said - I'm way too young to "retire" I mean what am I gonna do watch youtube videos all day? No. So I pick and choose what I want to do, while also having a balanced life (frequent travel etc). I keep an open mind and re-assess regularly.
post 1663134143 06-19-2022, 05:54 PM
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Originally Posted By TugOfPeace⏩
well, we're talking about above average people right

there are people I went to school with that were making 90k+ right after graduating. I wasn't one of them, but they exist and it isn't as uncommon as you'd think
Had some dude at my culinary school start clearing 100k within a year of graduating. Was running a Whole Foods take out area then they expanded and put 3 more stores under him.

If I can find examples like that out of culinary school I’m sure real careers have even more examples. But everything boils down to luck with things like that.
post 1663134273 06-19-2022, 05:57 PM
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Originally Posted By Redundanteater⏩
Good for them. Personally, I know myself well enough to understand I receive many non-financial benefits from work. Financially I am set - once I achieved FI, I took my foot off the gas a bit and spread my focus around to some other projects and interests. There's a deep comfort in knowing that no one in the world can tell me what to do. That said - I'm way too young to "retire" I mean what am I gonna do watch youtube videos all day? No. So I pick and choose what I want to do, while also having a balanced life (frequent travel etc). I keep an open mind and re-assess regularly.
That's really the point, being able to pick and choose. Most folks fuk around for a year then realize they miss work so they go back to working. If you want you can quit the grind anytime and take a month off.
post 1663134573 06-19-2022, 06:06 PM
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I was at 4 million before the market dumped off

I'm at around 2.8 million right now and im 32 years old.

Once you hit 2 million, your money starts generating enough in appreciation and dividends that you actually start to feel 'wealthy'.
Survival. When the jungle tears itself down and builds itself into something new. Guys like you and me, we end up dead. Doesn’t really mean anything. Or, if we happen to live through it, well that doesn’t mean anything either.
post 1663134623 06-19-2022, 06:08 PM
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Originally Posted By jackamo2887⏩
I was at 4 million before the market dumped off

I'm at around 2.8 million right now and im 32 years old.

Once you hit 2 million, your money starts generating enough in appreciation and dividends that you actually start to feel 'wealthy'.
If your 32 then I’m 12
post 1663134673 06-19-2022, 06:09 PM
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What if you have kid(s) though
post 1663136183 06-19-2022, 06:40 PM
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Originally Posted By Beast92⏩
Theres plenty of 40 yr old indians with a 15 year career track in big tech who are well worth 5M+ net worth.

They got in at the right time. Find your situation and time.
what if im not kind of person?
im yet to start working at 27 years of age.
will i ever buy that high-rise condo?
post 1663138423 06-19-2022, 07:24 PM
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Originally Posted By Toker095⏩
what if im not kind of person?
im yet to start working at 27 years of age.
will i ever buy that high-rise condo?
Not sure if srs, do you actually aspire to own a shoebox in the sky?
post 1663138493 06-19-2022, 07:25 PM
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Originally Posted By r32gojirra⏩
What if you have kid(s) though
Math is math. Children do increase expenses (especially in the instance of divorce/child support!) which can and should be accounted for.
post 1663138663 06-19-2022, 07:30 PM
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Originally Posted By Duckliver⏩
If your 32 then I’m 12
And I just turned 21.
trainingwithryan.substack.com
post 1663145063 06-19-2022, 10:46 PM
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Originally Posted By r32gojirra⏩
What if you have kid(s) though
kids and a non working wife are a money pit. Similar to a fat woman in a mcdonalds (maccas for u)

u need 8 million +
Originally Posted By Toker095⏩
what if im not kind of person?
im yet to start working at 27 years of age.
will i ever buy that high-rise condo?
bro i had a high rise condo at 23 and a penthouse at 26. Its over for u
post 1663145283 06-19-2022, 10:53 PM
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Originally Posted By Redundanteater⏩
Not sure if srs, do you actually aspire to own a shoebox in the sky?
Srs af bro, I want it in boston

I'm studying finance
I was looking at quant researcher / trader jobs recently. Not cut out for it, can't code and the math questions in the interview round were hard, they were elementary but there was a time limit.

So what now ? Will I never get my dream apartment and a hbb stacy by my side by 30 ?
post 1663146293 06-19-2022, 11:24 PM
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If you have 3 million liquid I imagine you would have 10 million + net worth at least

Plus the fully paid off house and car

Yeah this would be cool I highly doubt you'll be there by the time you're 40 though OP, or ever really

But I wouldn't feel bad, most won't attain this
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