| ▲ | bombcar 2 hours ago | |
Even in the USA you're not getting to $5m net worth on salary alone, not without decades of it. (Or as more likely, you've been in SV since Apple was a twinkle in the garage and your house is worth north of $5m.) For comparison purposes, $5m invested well should be about $150k a year forever (3% safe withdrawal rate). If you have a net worth of $5m you should be able to live without working - if you want to (median US household income is $87k). Anyway, off to buy some $10 bananas. | ||
| ▲ | eru 2 hours ago | parent [-] | |
> For comparison purposes, $5m invested well should be about $150k a year forever (3% safe withdrawal rate). If you have a net worth of $5m you should be able to live without working - if you want to (median US household income is $87k). This is all getting more annoying with capital gains taxes (and inflation, since capital gains taxes are usually levied on nominal gains). I moved to a place with simpler taxes, including no capital gains taxes. > If you have a net worth of $5m you should be able to live without working - if you want to (median US household income is $87k). Depends on how much you want to live off. > Even in the USA you're not getting to $5m net worth on salary alone, not without decades of it. I don't think the original commenter was talking about juniors who just started? | ||