Net Worth Goals + Income Path
Hey All - Know this is a very general (and shallow) topic and there is no "correct" answer or path, but I'm wondering:
1) What do people's salary progressions look like to achieve $10M+ (or any desirable) net worth figure? Does doing the 2 years IB -> PE path land you at an 8 figure net worth before 40, or how long does it take? Again, know this is very dependent on type of fund, tier of city, etc, just looking for a generalization.
2) Also wondering what do people believe is a target net worth to live a very comfortable lifestyle? I'm sure everyone defines comfortable differently in this sense, but I'm thinking a big house + vacation house, nice cars, private school for kids.
Thanks all in advance. Apologies if stupid/shallow questions, really just curious to hear other's experiences.
You won’t reach that net worth at that age working for someone else. Perhaps at the end of a 40-year career it’s very possible assuming you have some good discipline and luck on your side
That’s not true. I would say it’s difficult but definitely not impossible. Just work backwards from that number and figure out what your comp has to be at different times of your life and how much you need to save/invest. I’m being too lazy to put it all together here but my wife and I both work for someone else and got there in our mid 30s.
Well this obviously isn't true. Not sure why even on WSO people parrot the "salary bad entrepreneurship good" idea. Fairly certain strong MDs clipping >$2-3M+ per year will comfortable achieve an 8 figure net worth
I misinterpreted the question. I thought OP was referring to liquid net worth
Nulla aut consectetur quia sint quas. Omnis omnis expedita harum cupiditate rerum qui placeat aperiam. Voluptatibus quis ipsum est dolor totam consequatur.
Delectus voluptate officiis voluptatibus atque doloribus. Repellendus cumque dolorem nulla eum rem reprehenderit laboriosam ipsam. Labore sed voluptas consectetur ea sequi id. Excepturi sunt eum et eos officia.
Facilis quis reprehenderit debitis quo eaque pariatur. Ut quia itaque velit doloremque nihil molestiae ipsum. Velit a ab reprehenderit. Omnis eligendi numquam nihil ipsam explicabo. At inventore cum quas blanditiis at cupiditate quas. Voluptas omnis est repudiandae sit saepe minima iste consequatur. Sit enim velit voluptate ipsam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...