What's Your Number
Hi All - was chatting with some friends last week and we asked what is our number (the $ NW we need to hit to walk away and never work another job again). I'm not asking if you want to keep working or if you actually like the job but at what point does the $ not matter to you anymore. I didn't have an answer. I have about $750k NW across cash, stocks, 401k, coinvest and some random assets but I feel like i would need $10M of investable assets in short-term / yield investments to feel comfortable with milking my nest egg which seems somewhat doable if I can stay in finance for another 10-15 years
$245
The correct answer is there is never enough. If you work in IB you have zero ability to not engage in lifestyle creep.
Not true - just comes down to self discipline / desire to not become everyone else when it comes to blowing money.
Sounds like something a Walnut Brain would say.
$8,675,309
Ok, Jenny.
I think to maintain a fun lifestyle in nyc area, you need 7 - 10mm across your investments and retirement accounts. Real estate should count towards that as well, but apply a reasonable haircut / illiquid factor.
I’m closing in on 40 and only worth 3mm. It’s honestly annoying how expensive stuff is in nyc.
And my parents and in-laws seem to be in terrific shape, so my inheritance is just fleeting mirage at this point.
50% more than what my NW is at any given time
$25 million. I have a 99.999% of not achieving this.
Came up with the number in order to have a $1M/year income off of ~4% pull rate.
Username checks out
10mm invested (non home equity, kids 529 etc)
10mm + paid off house and 529 accounts set for all kids
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