Realizing every year vs realizing at the end produces about 1% annualized return difference with those rates over 10 years. It's sure significant but not huge. In practice you are likely to be somewhere in the middle.

>>And if that’s the case, it’s likely cheaper than having worked for that income.

How is that relevant? You are investing money already heavily taxed as income before. Anyway, I am just pointing out it makes a significant difference for someone who struck a bit of gold and gained financial independence but is not yet rich.