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0 pointsboring_twenties6y ago0 comments

Even assuming 0 tax we're talking more likw 2200-2600 and there are gonna be some taxes, especially in CA.

Assuming this is investment income of course, and not just spending down the principal, which obviously wouldn't work.

So probably under 2k, and it's not fun money, it's everything but housing starting with food and transportation.

Doable? I guess. Fun? Eye of the beholder, I'd say. And that's assuming kids don't enter the picture, say goodbye to every part of this plan if they do.

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s1artibartfast6y ago

I wholeheartedly agree 50K is a miserable salary in the Bay, but the original premise was $1M in the bank:

>I feel like it is hard for people to say what they truly love before they have at least $1M in their bank account. If you have FU money, your view on working at a FAANG vs building a startup can change. You will find it easier to know what you truly LOVE

The question wasn't if you can retire, or live of the investment income, but one of perceived finical security. If someone is too afraid to try working at a startup with $1M cash in the bank, it is unlikely they ever will.

Even if someone has kids and family, $1M provides a huge buffer to find a new job if the startup doesn't work out. Maybe 20 years is a stretch, but I am utterly baffled that other posters think this would only cover 2 years of spending...

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