FatFIRE
Does anyone here follow the FatFIRE reddit group or generally subscribe to it? The idea is to live below your means and invest as much into the stock market as possible at a young age, allowing it to compound over 20-30 years.
Anyone else trying this?
Did you make this post asking if anyone else on this forum has $3MM at age 30? Because if that's the case, you won't be getting any responses here.
People don't not have millions of dollars saved in their early 30s because they've made some sort of conscious decision not to...
It's impressive, I know.
How many people actually have the chance to be worth 3MM by 30
I started this thread and have a $3M NW. Early 30s
That's the point. It's three groups: (1) tech bros that have already made their exits from businesses they started; (2) young IB VPs / Directors and PE VPs that have have shitty lives and live way below their means; and (3) trust fund babies. That's like 0.00000005% of the population.
This dude is posting as though the only reason someone wouldn't have $3MM by their early 30s is because they've made some sort of decision not to.
That, coupled with the "I know, it's impressive" comment, leads me to believe this is a troll post and this person is just looking to stroke their own ego.
Even if you make VP by 28. You would need to have near a 100% save rate to make it even close to 3MM.
Yeah, we're talking liberal use of the term "early 30s" and somebody making Director by 31 that has the lifestyle of a hobo.
Or someone that has made massively irresponsible investing decisions that have paid off in our current clown market.
In any case, none of this is easily repeatable.
Most likely won’t happen in banking (outside of some super stars), but for people who go into HF (and to some degree PE) it can happen. But overall, also very rare (less rare within HF relative to banking, but harder to get into these roles and survival rate at funds isn’t very high).
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