Re:Ask HN: What is your yearly passive income?
by mrskitch on Monday October 16, 2017 @11:51AM
(#15484090)
So now that you've got a throwaway, and have purged the most sensitive of data, what market are you in and what's the product? You should really interview at indiehackers or something similar as there's an entire community trying to do similar.
Finally: you need to hang out with different folks and get your perspective changed :)
Re:Ask HN: What is your yearly passive income?
by umanwizard on Monday October 16, 2017 @11:49AM
(#15484059)
Well I can't relate to your kicker at all. I'm worth 200k and my income is 300k pre-tax. I live in NYC on that salary and feel fabulously rich.
Re:Ask HN: What is your yearly passive income?
by lazerpants on Monday October 16, 2017 @11:55AM
(#15484128)
Nope. Try being worth -32k. And yes, it is often my job to hang out with wealthy people (in NYC, not SF).
Re:Ask HN: What is your yearly passive income?
by exitreturn123 on Monday October 16, 2017 @01:46PM
(#15485147)
I do believe that I will never feel as rich as I did when I went from negative net worth to zero. That liberating feeling was amazing, as it's all upside after that.
You'll get there, and it'll feel so good when you do.
Re:Ask HN: What is your yearly passive income?
by warent on Monday October 16, 2017 @12:02PM
(#15484206)
Nice, that sounds pretty sweet. I'm 22 and worth < $1m. Mind if I ask some questions so I can get to where you are?
What was your role in the company? How long were you with the company for and how long after its founding did you join? Was the company ever funded or 100% bootstrapped?
After you had your exit, how did you begin investing your money and why did you decide on that mode of investment?
Do you currently work a corporate job or do you work for yourself?
Any other tips or advice?
Thank you!
Re:Ask HN: What is your yearly passive income?
by jacknews on Monday October 16, 2017 @09:15PM
(#15487959)
So are you getting a salary of $2.5m (from a company that you do not own), or are the CEO/owner? I'm guessing this is a CEO salary in any case?
Re:Ask HN: What is your yearly passive income?
by exitreturn123 on Tuesday October 17, 2017 @11:12AM
(#15491580)
Yes, I work at a very large public tech company now (40,000+ employees). I'm a senior executive in the company but two levels below CEO.
I would guess:
4000 people make > $500,000 / year
1000 people make > $1,000,000 / year
250 people make > $2,000,000 / year
50 people make > $4,000,000 / year
~7 people make > $8,000,000 / year (the executive team)
This includes stock and cash and bonus. All in.
My annual pre-tax income from work is about $2,500,000.
My annual passive pre-tax income is about $1,200,000. This is 100% derived from investment returns from an exit I had a few years ago from a startup I was with.
I spend about $400,000/year (after tax) of that.
Here's the kicker: Nothing makes you feel more poor than being worth about $40m in cash while you hang out with billionaires and live in NYC or SF.