> ... now I stand I make low 7 figures from the equity on this last company (publicly traded now).
Isn't that a "never need to work again" situation though?
eg, you've effectively freed up your future to put time into whatever you want?
Isn't that a "never need to work again" situation though?
eg, you've effectively freed up your future to put time into whatever you want?
I don't think that I would call that "never need to work again" money. It's between 10 and 30 years of my salary.
A good lump sum to stash in the retirement fund. Maybe retire at 55 instead of 65, but definitely not "never need to work again" money.
If you have 2 million, you can conservatively (meaning a low 3% - 4% withdrawal rate) take out 60k to 80k a year in perpetuity. Can you live on 60k - 80k a year? Consider you'll be paying a lot less in taxes since it's all capital gains. If your normal salary was 100k ish, you probably can.
(Obviously as your raise the definition of "low 7 figures" this can change dramatically)
After taxes and everything, it’s not “enough” to never need to work again but yes, I would say I’m very fortunate to not have money as the concern as long as I’m not irresponsible with it.
The point was more that it easily could’ve been another $0 and in theory, the company could fail taking that $1-3M down considerably.
The salary most HNers make is way above the median and is enough to live a very comfortable life. I honestly can’t tell you if the money was worth the personal pain of the last 10 or so years, truly I don’t think it is.
If I ever finish work, it's going to be a complete reboot of me anyway.