You can if you suffer. 200k is about $137k after tax. Pay $1k for rent and utilities, $500 for food and sundries (no car or insurance because you're suffering), $137k - $1.5k*12 = $119k per year saved. If you're working from 20-30 you've got 1.2 million and that's ignoring that you'd have invested it while still working. Retire at 30, let's say you expect to live to 80. That's $24k per year if you were withdrawing everything, no investments, but since we're capitalists that fund is invested and we can expect it to generate about 7% ($84k) a year (though it will fluctuate wildly year-to-year and you shouldn't withdraw the full amount). So you get somewhere between $25-50k a year to live on.
The cost is you have to live like you're somewhat poor (probably want roommate) and you can't have kids or expensive hobbies or health issues. Tough luck when you get old and don't have retirement home money. This is roughly what my budget looks like except I don't make nearly as much money and have a cat that racks up expensive vet bills.
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mass heartwarming stories about ambitious 20 year olds making $200k a year and dying at 30 years old
Can't forget the 8 year old working to reduce their family's medical debt
You can't retire at 30 on 200k a year.
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You can when the 200k you make is someone else's surplus labor.
You can if you suffer. 200k is about $137k after tax. Pay $1k for rent and utilities, $500 for food and sundries (no car or insurance because you're suffering), $137k - $1.5k*12 = $119k per year saved. If you're working from 20-30 you've got 1.2 million and that's ignoring that you'd have invested it while still working. Retire at 30, let's say you expect to live to 80. That's $24k per year if you were withdrawing everything, no investments, but since we're capitalists that fund is invested and we can expect it to generate about 7% ($84k) a year (though it will fluctuate wildly year-to-year and you shouldn't withdraw the full amount). So you get somewhere between $25-50k a year to live on.
The cost is you have to live like you're somewhat poor (probably want roommate) and you can't have kids or expensive hobbies or health issues. Tough luck when you get old and don't have retirement home money. This is roughly what my budget looks like except I don't make nearly as much money and have a cat that racks up expensive vet bills.
do they even cover covid deaths anymore?