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/biz/ - Business & Finance

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49454927 No.49454927 [Reply] [Original]

>Make $200k/yr in silicon valley
>Half of that goes to taxes
>Half of the remainder goes to rent and other expenses
>Can only save $50k a year
>Need to wage for 60 years to reach the minimum net worth to retire ($3 million) without accounting for inflation
It's over.

>> No.49455031

You just need to buy ETH with$50k. That itself will be worth$3M in 10 years

>> No.49455046

>>49454927
Similar, but:

1. Make 450k on W2 and 100k on c2c. 3 "W2" Roles.
2. about 14% goes to taxes through creative llc loopholes, business establishments, 401k and such. You can also deduct startupcosts from an llc yearly, so filing $500 for a new llc yearly and applying for a fein and such means you can deduct 50,000$. learn basic finance.

I save 200k a yr, and have other legitimate expenses, I wish I could spend it but I can't.

>> No.49455731

>>49454927
50K with a simple CD account can be $83,544.38 in 20 years. If you can contribute monthly or annually with your level of savings you can make it.

>> No.49455835

>>49454927
Also why would you need 60 years of savings in retirement age? Just buy a house somewhere cheap with cash and save enough for food and property tax.

>> No.49455885

>>49455835
this is the dream. I already want to leave Texas sadly and go to Tennessee. Half or even less the property taxes where I am which amounts to $6k a year or so

>> No.49455943

>>49455885
If the credit system still exist at that point 6K should be less than 10% of your utilization hopefully. Just make payments and let the debt die with you ha.

>> No.49456152

>can only save well above the average person's salary annually

Damn. How will you survive?

>> No.49456188

>>49454927
Working silicon valley
Posting on 4chan
Choose one fucking retard.

>> No.49456190

>>49454927
how tf does someone spend 50k per year on rent and other expenses? nice larp