Re:I think I know why you can't hire engineers right now
by leeoniya on Thursday January 13, 2022 @10:31AM
(#29921783)
i think it's a sliding scale.
if you were previously living on streets and frequently going hungry, then you can likely sustain yourself very well still without working. 1M translates to 27 years at $3k/month expenses. if you chose to supplement that with work, you can easily double that runway.
obviously it's not the same as $10M, which would allow you and your children to never work again, but jump between that and no food/no shelter is not as significant. for those who already have financial stability, $1M only serves as a safety net or retirement fund and cannot act as an early retirement plan without significant cutbacks, so the jump from 1->10 is significant. in the same way that 10M->100M extra income for Bezos is not gonna change much.
if you were previously living on streets and frequently going hungry, then you can likely sustain yourself very well still without working. 1M translates to 27 years at $3k/month expenses. if you chose to supplement that with work, you can easily double that runway.
obviously it's not the same as $10M, which would allow you and your children to never work again, but jump between that and no food/no shelter is not as significant. for those who already have financial stability, $1M only serves as a safety net or retirement fund and cannot act as an early retirement plan without significant cutbacks, so the jump from 1->10 is significant. in the same way that 10M->100M extra income for Bezos is not gonna change much.