At what age did you feel set for life?
If you're on the path, have a good job, good savings, what could go wrong?
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If you're on the path, have a good job, good savings, what could go wrong?
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Career Resources
Based on the most helpful WSO content, the idea of feeling "set for life" varies greatly depending on individual goals, financial habits, and life circumstances. Here are some key insights:
Age and Feeling "Set for Life":
What Could Go Wrong?
Even if you're on a solid path with a good job and savings, several risks could derail your plans:
Mitigating Risks:
Ultimately, being "set for life" is about creating a balance between financial security and personal happiness, while preparing for potential challenges.
Sources: Why work the best years of our lives away?, Best Time to Have Money, Really sad about growing up, Make Hay While the Sun Shines, What should people do at 25 to set themselves up for life? This would be very helpful!
del
I feel set for life right now.
Roughly 34. I think what you're describing is the point at which your net worth grows annually from market returns at a greater rate than your annual savings. That was the point at which continuing to work felt optional as a retirement accelerant more than a requirement.
I got lucky because I had banking and consulting NYC jobs WFH during COVID (lived in KY while making NYC pay) so for me it was a bit earlier plus I got lucky off some crypto - so age ~27 I left the workforce and now work for myself and live off that income + dividends around the world.
Could you go into some detail about your post consulting work? Always interested in people who go from a traditional finance role into a more self reliant one.
del
I’m 29 and feel pretty set at this point. NW about $1mm. I figure if I never saved another $1, current investments will appreciate greatly by the time I’m 60/70/80. That’s not to say I plan on stopping working anytime soon—but any additional savings is just building a margin of safety and reducing worry of whether I have enough. There is a weird feeling when your investments can appreciate in a day 2-3x monthly savings which can feel demotivating to work. For me it’s all about saving enough to where I could walk away from work and not sweat it. It’s about freedom
Yeah exactly. It's nice to make a few grand in investments every day. I made over $3.6K today.
Hi @Isaiah_53_5 💎🙌💎🙌💎
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