Re:My Sixth Year as a Bootstrapped Founder
by paulddraper on Friday February 16, 2024 @08:48PM
(#39405508)
Interesting story.
Forgive me but I'm not sure I see the relationship to my comment.
Re:My Sixth Year as a Bootstrapped Founder
by ipaddr on Saturday February 17, 2024 @12:52PM
(#39411646)
A million after taxes is worth 20 years at 100k after taxes (50% rate).
Investing a million today say in real estate over 20 years will give you money to live on while you rent and a the property can be sold for double in 20 years. Repeat and this strategy would bring increasing wealth for a 20 year old.
Re:My Sixth Year as a Bootstrapped Founder
by paulddraper on Sunday February 18, 2024 @06:59PM
(#39424825)
No one makes $100k and pays $50k in taxes.
If you're in your thirties or forties, a million bucks won't even get you a school teacher's lifestyle for the rest of your life. A million bucks makes the rest of your work life low-stress, but not non-existent. You still have to work, you just don't have to worry about paying rent, or getting exploited by your boss. You can always quit, and you can always say no (one of the reasons some bosses like a hint of desperation on their employees)
They bought water view condos, one got his teeth fixed, and then they had to go right back to work.