28 year old Woman retired in NYC with $2.25 million net worth

Antidope said:
It doesn't last. I ran the numbers and even with a 6% return and 2% inflation rate you burn through a lot of the corpus in 20 years in a conservative scenario. Even ran it with 8%, doesn't last.

You'd need at least 5MM
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It doesn't last if your only spending 20-25K a year? Don't see how thats possible.

25K X 40 years = 1 Million .

Bringing in 90K/yr from investments = 3.6M - 1M = 2.6M

Even at 60 years

25K X 60 = 1.5M

90K X 60 = 5.4M

5.4M - 1.5M = 3.9M

Your saying the standard 4% safe withdrawl rate is inaccurate?

Here is a FIRE calculator with her numbers plugged in .

She is not the first person to do this. This early retirement stuff is like a religion to some people lol they have all the math calculated and are living proof some people 20-30 years retired.

Also just because she retired her corporate job doesn't mean she won't make money at all in the future. Most pick up hobbies and get paid for it.
 
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Slighted said:
Sounds like she joined a private equity shop after her Mongolia stint.

She must've been an absolute rainmaker in those years.
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That's not how those firms work.

She would've had to get carry out the gate, which is extremely rare for anyone under 25.

Then it takes time for the harvest period to fully return capital.

You get quick explosions of cash frok hedge fund structures that tend to trade on more liquid markets.

So it's very possible for her to be a crazy good trader and come up that way.

The problem is when you say 40% of your income came from investments, and your best year was a 13% return during a time where things were on the rise...

Then something is up.
 
blakep267 said:
She comes back from abroad and immediately gets a position at an investment firm? Harvard or family connections?
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Exactly, most people that come straight out of college has to grind for job positions, she becomes a glorified goat herder in Mongolia then comes back and lands a high paying job out the gate?:rolleyes
 
I rather go broke experiencing life, vacationing and having the finer things I can afford....hoarding money with no purpose is about the silliest ***** anyone can do.
 
ksteezy said:
I rather go broke experiencing life, vacationing and having the finer things I can afford....hoarding money with no purpose is about the silliest ***** anyone can do.
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Crazy thing is that this is enjoyment to them.

I can't fade at all lol I have to have certain things in life that are luxuries .

Even the way they travel isn't for me, living out of a carry on/ backpack nahh.
 
Minimalism is a lifestyle that only the wealthy can afford. For instance, easy to have 2 suits in your closet, when they are both Brioni and retail for 2k+. These articles send the wrong message. While Frugality always helps, at some point you just have to make more money.

Also, a lot easier to backpack across Europe when you have a daddy that can finance it.
 
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Frugality and minimalist are similar , but not the same. Majority don't buy expensive things especially not a $2000 suit lol.

Most live off of less than 25K/yr .
 
I mean, what is the take away here?

IMO, media like this is intended to poke fun at people who have had to struggle and work hard for everything they have, and often still aren't making the ends meet.

It's clear from the few details provided that this woman is an extraordinary individual.  There is nothing routine about her, or any of her aforementioned accomplishments.

But what's the point?  What does this outlier have to do with the price of tea in China.  The fact that she was overseas before walkinginto her current profession should allude to the level of access she has. Is this supposed to inspire people to do more with less?  People are doing the best they can with what they have.  There are people living in this country who haven't sniffed a percent of the opportunities afforded to this woman, or anyone of us on this site (let's not forget we're on a medium dedicated to overpriced athletic apparel).

Good for her, but this is no different from people flexing on the gram.

In before "why you hating", "You mad?", etc...
 
I save for my heirs. It's my intention to never touch my assets and just have it pass on to others upon my death.
 
Antidope said:
I save for my heirs. It's my intention to never touch my assets and just have it pass on to others upon my death.
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Generational wealth
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People get caught up in reaching a monetary goal. The real goal should be to find a work/career you can do for a long time. There are bonds built through work that are the very fabric of the way you feel about yourself. What this gives her is not retirement - it gives her the real freedom which is choice.
 
The take away that I get is that a millionaire retired as a millionaire. This is some earth changing stuff.

I get that she is in the minority when her colleagues and such are making the same amount of money but are living lavishly. How many CEOs and other high profile executives do we read about getting X amount of millions in bonus money every year. Most seem to get caught up in that and want to stack more and more and more wealth. You see the same with these app/website developers. Not enough pople take that first offer and just run with it. There is no concept of money at a certain point.

It's not realistic what she did for 99% of the people out there. But it's nice to see someone stack some funds, and just get out.
 
NYC game said:
blakep267 said:
She comes back from abroad and immediately gets a position at an investment firm? Harvard or family connections?
Click to expand...

Exactly, most people that come straight out of college has to grind for job positions, she becomes a glorified goat herder in Mongolia then comes back and lands a high paying job out the gate?:rolleyes
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Most people dont graduate out of an Ivy League school, let alone Harvard lol.
 
As frugal as she lived who's to say that someone who went straight to Mongolia out of college won't travel and experience things now that she's retired?
 
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BeezyGotSole said:
 
Frugality and minimalist are similar , but not the same. Majority don't buy expensive things especially not a $2000 suit lol.

Most live off of less than 25K/yr .
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It isn't but the new wave of immense wealth is to show how little you need money to survive. Ironic sure, but still, you know what I mean.

What these articles don't say is that her 325 sq ft apartment is in the upper west side. And her job probably paid her upward of 200k annually.
 
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Aquatic Barefoot said:
 
I mean, what is the take away here?

IMO, media like this is intended to poke fun at people who have had to struggle and work hard for everything they have, and often still aren't making the ends meet.

It's clear from the few details provided that this woman is an extraordinary individual.  There is nothing routine about her, or any of her aforementioned accomplishments.

But what's the point?  What does this outlier have to do with the price of tea in China.  The fact that she was overseas before walkinginto her current profession should allude to the level of access she has. Is this supposed to inspire people to do more with less?  People are doing the best they can with what they have.  There are people living in this country who haven't sniffed a percent of the opportunities afforded to this woman, or anyone of us on this site (let's not forget we're on a medium dedicated to overpriced athletic apparel).

Good for her, but this is no different from people flexing on the gram.

In before "why you hating", "You mad?", etc...
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This is actually a good post. Forbes is garbage now and they post way too many clickbait articles like this for my liking. They are often vague and don't give any background to the person except that they saved X amount. It would help knowing what their upbringing was like to help put things in perspective. In this woman's case, it is clear she comes from the 1% and the advantages she has with her connections and background helped her retire before 30.
 
her parents should be the ones getting props, they were the ones who instilled in her to get her money right.

im sure they also took care of her responsibilities during her little life changing trips.

325 sq ft.. thats a closet baby.
 
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BlackIntellect said:
Minimalism is a lifestyle that only the wealthy can afford. For instance, easy to have 2 suits in your closet, when they are both Brioni and retail for 2k+. These articles send the wrong message. While Frugality always helps, at some point you just have to make more money.

Also, a lot easier to backpack across Europe when you have a daddy that can finance it.
Click to expand...

Hold this L
 
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