Is ten million enough to make it? I keep seeing people here saying it's not enough and they're aiming for 50-100 mill...

and then you have the very same people begging in every thread asking for 0.01 BTC lmao

Very few people here will make anywhere near $10MM (present value dollars) in their life. It is most definitely enough to make it and be able to focus on whatever work you want to do to make this world a better place
It might not be enough if you need a 20-room mansion (so you can shitpost in the basement and never use any other room, whats the point?) or if you want a yacht where you can throw parties (you wont) or if you want to buy the newest lambo every year and similar useless materialistic bullshit

1 million is enough to retire as long as you don't have tons of debt. I'm 28 and retired with an 800k networth. You don't need 5 million+ to retire. I only spend around 25k per year becuase I barely go outside though.

btw, the 4% withdrawal rule is not that accurate. It is an old calculation and there are several things not accounted for. For example the Safe withdrawal rate depends A LOT on what year you start withdrawing. It can be anywhere from 9+ to under 2%

so are you doing anything useful or just NEETing it up forever?

yeah i know, which is why it's a general rule. firecalc does a good job of showing you a bunch of trial runs and your chance of running out of money.

yeah, for most people it would work though

but would you realistically not want to work a single day for 100+ years? assuming you are in your 20s. If so, why?

You think you are going to get 1% a Day forever?

Just living the comfy NEET life. I'm also a landlord so I guess that could be a job, but I wouldn't really consider it one. I only own 3 apartments.

This. 2.5k mil with 500k cushion is the endgame. Life is hell.

Bitconeeeeeeeeeeeeeeectttt

I have 500k in crypto and it feels like nothing, if I can get to 5MM I’ll think about hedging a million in fiat, but my real target is more like 20M.

I’m 90% in Tezos, LINK and XRB, and if even one of those blows up to top5 levels I will have enough for a cozy life, I’m scared of greed getting to me and not cashing out, but at the same time I truly believe in the long term potential of the technology and its political impact, so I’m more willing to risk that comfort for a massive stake in the future of economic infrastructure, and the chance to really make my mark on the world.

remember bros, the tech bubble popped, but if you were a conscientious and informed investor you would have been hanging on to and picking up GOOG and AMZN

Those figures might be about right, provided that by 'young' you mean mid to late 50s.

>I’m 90% in Tezos, LINK and XRB, and if even one of those blows up to top5 levels I will have enough for a cozy life
spoiler, none of those will EVER be top 5 level

meh, you say that now but when you actually get there it won't feel like enough

When you have ten million it's not that hard to make 50.

Just keep going until you dont have to cash out.

Tezos might be ok though.

Do basic math.
1,000,000 / 20 = 50,000
If you want to live on 1,000,000 you will have 50,000 for 20 years. Comfy and doable. but you want more don't you?

I have two million and I feel like I made it

You would put money into stocks and bonds and it will last you longer

da fuq would you do with 50 mill that you cant do with 10 though?

buy a lamborghini responsibly

its never enough to make it

youtube.com/watch?v=KAExa9P7hME

once i hit 1 mill, cash out 50k, for living. Once i hit 4 mil cash out 1.5 mil. 500k in tax. 500k goes to pay off parents mortgage. of the other 500k, 300k goes to buying an apartment outright, while 200k in a mutual fund. After that, looking to convert 2.4mil to 5-10mil and further cash out to buy more property.

Btw im 24, a student, started in july and started with 5k. Currently have around 350k usd. And no, im not larping.

like you cant do that with 10...

what coins and when?

not him but ive got a similar "make it" number

i just want that steady income so i could afford to do diy metalworking/woodworking stuff all day and not have to worry about money. Not sitting around and rotting away, but doing stuff I actually enjoy that wouldnt otherwise be a financially sound decision

or 1,000,000*0.04=40,000/yr forever and your principal is still there

are you me?

Its human nature to always want more, get to 10 mil, you want 20, then 50, then 100 etc etc. Realistically I could live with 10.

just put on powhclone. com/index2.html 1eth and u take x2 ez

that's true, but pretty sure some of those hobbies like metalworking/woodworking can be profitable as well so there would be additional income coming in

if you're a fucking retard or a nigger you can buy a car for 5% of your net worth that will cost even more in maintenance and insurance than the sticker price.

I was going to quit my job but I know I'd get bored. If i can get to $2m then I'd consider buying a regular house and getting out of my apartment so I can have a garage to fuck around in, then maybe I'd quit.

This. It's never enough.
I told myself I'll cash out after 1 mil and put those money onto stock market for reliable 5%-7% yearly gains and retired. I didn't cash out and leave it there to keep gambling. need more money

I define "making it" in the most ideal sense as having enough money that you could put it in the safest possible investment and make enough to live well.

That investment would likely be Treasury bonds or municipal bonds, which if you bought the last issue Treasury bond you'd be making 2.7% interest annually with a payment every 6 months and a maturity in 30 years. At 10 million, that would be 275,000/yr. If you wanted you could continue working for a year or two, save that and then pay in cash for a good house (depending on where you're thinking of buying a house). So now the largest payment in your life is settled, you've got 275k/yr to blow on anything you want, also keeping in mind that this is tax free income.

If you were looking into municipals, which are still pretty safe, you could get above 4% interest per year. So you're doubling your income, in some cases still tax free.

I want to be the wealthy elite. i want the ability to mold the world in my shape entirely. this is because she hurt me. how much do I need?

if you can't buy a car for 5% of your networth when you are worth 10MM then you are the retarded one.

No fuckin need to be that extremely careful. Just make it a one time thing i.e. don't buy more than one

How the hell you guys have so much moneys, I guess its larping

you've just never had close to the amount of money it takes to own and maintain a super car. If your networth is 10MM realistically your house is going to eat up a lot of that (and at least in my state come with a lot of property tax) and other obligations and the expenses that revolve around an actual lamborghini (along with the daily driver you'll need) are pretty untenable. Especially if you're a fucking NEET who has no realistic expectation of ever making money ever again once the crypto bubble pops.

You guys all say this but 1mil bringing in 50-70k passive income indefinitely on top of wagecucking sounds like a good life

Have you reach 1 mil yet?
You will change your mind.
Crypto won't last forever. I told myself to make the most out of it so I didn't cash out

we got 1 maybe 2 years tops until this ride bottoms out

well yes, now you are assuming the hypothetical supercar owner lives in a 5MM mansion as well. Let's change the 5% NW rule to be assets excluding your own house

Nah man... I'm poor as fuck, but have a decent paying job. Playing with 2k in alts thay I got from an ico, and have like 1500 total in other icos. I don't really know what in doing, and feel like say trading with such a small amount won't bring in enough gains to offset exchange fees. How did you make your first million? I'll take any advice.

This guy gets it

Niggers I just want 1mil fuck outta here you're not making 100 mil unless you're already a millionaire

If I can buy a house without going into debt I will have made it.

Wagecucking while being debt free is totally enough for me. I know rich people and they aren't automatically happy they still have the same problems as normal middle class people have except they don't have to worry about money. Buying a house cash combined with my EE degree will allow me to be comfy upper middle class and I'm fine with that. Won't have a lambo but desu a Porsche is fine too.

why would you wear a space suit, indoors and underwater.

that's fucking stupid

Next level stupid.

please answer this

If you invest all that money in stable medium return investments like mutual funds you can manage a six or seven figure passive income. So yes.

You're missing something, and it's huge: inflation.

What you are saying would be true if you could get 4% REAL (i.e. after inflation), but you can't. At least not reliably over time. Nowadays investment houses will claim 3% real, but even that is BS because the rate of inflation is understated. I'm conservative, and I figure 0% real (i.e. my gains just really keep up with inflation).
That way, if I get more, great. But if not, I'm still safe.

a fuckload of astronaut training is done indoors and underwater while wearing space suits. being underwater is the most similar feeling to weightlessness. get your head out of your ass faggot

Replies in this thread show the average age of Veeky Forums. You don't just put 1m in a magic fund and get 4-7% tax free.

For a safe, tax free, minimal to zero work fund you're looking at 2-3% over 30 years. And that could be 15% some years and - 10% other years. During the down years you will be reducing your principal by taking from the fund and then during up years you'll be buying back assets/shares etc at a premium to the down years. This effect slowly reduces your investment.

And the property meme is something that has really got out of hand. No you can't just buy 10 apartments in a city, pay someone to manage them and live off the rent for the rest of your life. Housing markets go up and down and ongoing costs can get expensive if the price of the house isn't going up.

2.5m is a very good starter but you'd have to have a more aggressive weighting for the first 5-10yrs (dependant on market) to ensure your could live off the fund for the rest of your life.

4.5m is my target number to actually not have to work

Also I forgot to mention inflation, in the US they've done a good job recently of stabilising it under 2% but if policy changes in the future it wouldn't be unheard of to see 15% inflation.

This can be mitigated by hedging currency, commodities, other financial tools in your portfolio. But once again, this adds time, effort and cost to your investment portfolio.

You've got to beat inflation, tax and the market.

teachers in NYC get 7% guaranteed tax free retirement accounts just saying

say more
cant you just go all in on real estate and have them manage it. all dat gross

10 mil is my target but if I get to 1 i'll likely cash out 250k to qit my job while I let the rest grow, I enjoy my work and the people I work with (I'm a fullstack dev) but the routine of getting up at the same time, going to the same place five days a week with little variation makes me want to fucking kill myself.

If I have a 1 milly net worth by age 30 I’ll be able to just coast at some low stress job for the next 10 years (or work part time and take out like 1-2%) while it compounds more and then retire completely by age 40.

I’m 23 currently working a STEMcuck job, around 100k a year hoping to get that up as much as possible and get lucky with crypto, which I am only willing to risk like 5k in at most.

Sure, that's guaranteed under the current administration/policy makers. You can't trust them to not change it in 10-20-30yrs when the people who wrote it are dead. When the deficit is up and working aged people are angry and want change to old systems then you're stuck. When you have minor importance to policy makers then they can change anything.

Even private pensions through companies aren't safe, the only true security is by having control of your investments and assets. This is important because a lot of people reading this won't be able to access their pensions for at least 30 years. A lot can happen in that time.

If you poorfags out there turned 1k into 100k though crypto would you seriously not cash it out and keep gambling with this shit? You realize the market could collapse at any time right? I’d be fucking stoked with 100k, at a young age that’s a pretty damn good way to start off life. No more student loans, down payment on a house, big deposit in a (relatively) safe index fund which will grow to several times this amount by your late 30’s... why would you risk losing it all to turn it into $1-10m?

I could live out the rest of my life happily and without working at all for less than $5 million. $10 million is WAY more than enough.

We are the same person

Imagine being the guy at the top, or close to the top looking down on all us untermensche.

"those guys are all fucking poor, even the multi millionaires"

Why would you cash it all out though? $50k would be a good start too, and the other 50k might get to 5 million after a few years. Crypto is the opportunity of a lifetime, the birth of an entirely new asset class

With 10 million you could buy 10 year treasuries right now, one of the safest assets in the world, and collect 2.7% per year. That's 270,000 per year, pretty much indefinitely, with basically no risk, without working ever again. That's called making it.

I turned 5k into 450k, crashed back to around 300k.

Why won't I cash out? Because I have a good job and career path at 25, if I lose all my crypto I will still have a comfy well off life as I make a good amount of money through work (wage and have equity in the company).

If I cash out of crypto I'll be a bit more comfortable, maybe I can retire a few years earlier.

But I don't think I'll get more than one life in this world, I think once it's over it's over. I can't remember anything before I was born.

I've already spent a 1/3rd of my life, now I might have to spend the next 25-35yrs working 5 days of the week every week of the month.

The only thing that makes me get up in the mornings is the thought that one day soon I'll have 5m or there abouts in crypto so I can quit my job and be free to do whatever I want. To chase my dreams instead of working towards a stabile and safe death. To be free.

>100 million ruling class
>chuckles in hebrew

Finally someone who knows something about investing. Just lol when the biz 12 years old say they will get 1MM and then live off 80k a year

fucking small timers. this is crypto. three comma club or go home.

500k is enough for a nice lifing without work dah

$500k before taxes is enough to never work again in my shithole country (poland)

>you're looking at 2-3% over 30

Then why buy into a fund? Just buy Treasury bonds: it's the safest possible investment and you'll get the same return.

If you invest it all and live on the interest: market returns 7% average - 3% inflation = 4%. That's $400k a year while you do nothing.

If that's not enough for you, then you are unabashedly niggerlicious

You're fucking delusional if you think 10 mil is not making it. People live comfortably off of 50k a year, you're way off if you think you need more than 3-5 mil at the most to live a comfy life

>You realize the market could collapse at any time right?
It could, but at this scope it's not going to for a very long time. We're just getting started with this crypto meme.