Anonymous
10/31/2021 16:05
Subject: At what net worth level were you lo longer concerned about losing your job?
Anonymous wrote:I’ve struggled with the goalpost.
A few years ago it was $7.5M on the basis that was enough to throw off $200K a year comfortably.
Then I decided $10M because sometimes things happen and maybe I want a vacation on home. When $10M started to look more plausible, I decided $15M.
Today the number is $20M, but I’m already debating $25M in my head because - surprise - I should probably have some family trust money, etc.
I need to stop. I can’t. I wish so much I could talk to someone in the real world about this but all my friends have less - a lot less - and it’s likely to come off as utterly smug and selfish and horribly arrogant. But man, I wish I could have a real conversation about it without someone who genuinely had no dog in the fight.
Your people are here: https://www.reddit.com/r/fatFIRE/
This topic comes up monthly
Anonymous
10/31/2021 15:14
Subject: At what net worth level were you lo longer concerned about losing your job?
Anonymous wrote:$10M has been my "don't even think about working ever again" number for about 20 years.
That said, NW now is probably about $4M and it feels pretty comfortable--as in, I now think that if I want to leave my job I'll simply retire, not worry about finding a new job.
Yes that’s a good amount. What age are you?
I think it would work out at almost any age though (having $4M).
Anonymous
10/31/2021 10:44
Subject: Re:At what net worth level were you lo longer concerned about losing your job?
Anonymous wrote:NW about $7M, late 40s/early 50s. Still concerned about losing my job. Had anyone told me when I was in college that I would be making as much as I do now, I would have laughed at them. But the lifestyle grew with income, and it feels bit like “golden handcuffs” now. Give me another 10 years and I will stop worrying. Alternatively, if by some magic, my worthless penny stock that I bought earlier this year becomes the next Amazon handing me $5M, I would stop worrying right now
Can’t you scale back your lifestyle? You have an awfully large next egg to have that worrisome perspective.
Perhaps small steps at at time?
Anonymous
10/30/2021 21:01
Subject: At what net worth level were you lo longer concerned about losing your job?
$10M has been my "don't even think about working ever again" number for about 20 years.
That said, NW now is probably about $4M and it feels pretty comfortable--as in, I now think that if I want to leave my job I'll simply retire, not worry about finding a new job.
That said, NW now is probably about $4M and it feels pretty comfortable--as in, I now think that if I want to leave my job I'll simply retire, not worry about finding a new job.