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0 pointsfma4y ago0 comments

The less sexy way of "making it big" is get a well paying, interesting but low stress job, live below your means, dollar cost average your way into an index fund.

Instead of spending nights and weekends hacking away, spend it with your family or a hobby...become a guaranteed millionaire.

$20k invested per year, 8% average yearly return, 30 year growth = $2.5mill. YMMV based on tweaking those numbers

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clpm4j4y ago

Perfectly reasonable path for some people. For others, like myself, not being my own boss and working a "normal job" for years on end is the definition of hell. I know I'm in the minority though.

skeeter20204y ago

You make it sound like getting a well paying, interesting, low-stress job is a total cake walk. For most of us it's not.

I also love how someone inevitably trots out the "just invest $<more spare money than most have> at <unrealistic rate>% for <very long time>". Nothing is giving you guarenteed 8% post tax returns, and you might want to, I don't know, buy a house in the next 30 years.

fmaOP4y ago

Genuinely curious...Why is it that "most of us" it's not? Because you don't like in the US? Or you live in an area w/ limited tech jobs? Or is it that you believe that all 3 criteria is unattainable?

8%...how is that over 30 years unrealistic? That is the historical going rate for the S&P since its inception...

Also I don't know why you threw in the words "post tax" as if it means something for dollar cost averaging. If you dollar cost average the S&P...even in a taxable brokerage account...the only thing you're taxed on is dividends. Your gains compound tax free....If you throw it in a 401k, where the max individual contribution is $19500 then nothing is taxed till you withdraw.

My example of $20k is drawn from a max of $19500 contribution (and hopefully you get employer matching) because ideally you are maxing out a 401k to get the tax benefits.

kwere4y ago

past returns are not indicators of future ones

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