2/ to decide what you mean by rich, take the free cash flow that THINK rich means ($400k/yr ? $2M ?) and backsolve to get the underlying wealth that generates that in perpetuity (flow x25 = stock is a good rule of thumb). $400k/yr income = $10M wealth $2M/yr income = $50M
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3/ "more formal, less folksy" is my brandhttps://twitter.com/kendrictonn/status/1412820682271072263 …
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4/ There's no one objective answer to the question, but my own personal Take? $500k/yr after tax without ever needing to work is Rich (and if it's not Rich, it'll do til Rich gets here) $500k after tax -> $700k gross -> $17.5M in investments
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5/ I believe it...and yet, this is absolutely insane At some point, I'm going to write a book: Uncle Morlock's Advice to Young Men. And I'm gonna say "DON'T DO THIS
"https://twitter.com/jake8randomnums/status/1412822986768281609 …Show this thread
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*obligatory nitpicking about cost of living* There are certainly areas of the country, let alone the world, where 180k/year will put you in the top 1% by income and will allow you to live like whatever the local standard for a king is.
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I might go for a more abstract definition of 'rich' that entails "how much shit can you make happen just by slinging your available funds around." Hence, living in SF raises that standard to almost unattainable levels.
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