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28 year old Woman retired in NYC with $2.25 million net worth
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Shes not an ibanker.
Famb she went to Harvard & worked in NYC. Idt its hard to get a lucrative position out of harvard, especially being in nyc.
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I mean if she can afford it why live anywhere else. Imagine having 2 'million and living in Montana
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325 sq ft?
That's madness.
More than likely comes from money or a network of money.
If you grew up poor then made money from working hard, no way you're gonna settle for some minimal lifestyle like this unless you grew up with too much and need a change.
Different mentality.
Not saying they need a 3000 sq ft place but 325 sq ft seems extreme.
I would't let some guilty rich kid guilt me out of enjoying life and living comfortably.
That's madness.
More than likely comes from money or a network of money.
If you grew up poor then made money from working hard, no way you're gonna settle for some minimal lifestyle like this unless you grew up with too much and need a change.
Different mentality.
Not saying they need a 3000 sq ft place but 325 sq ft seems extreme.
I would't let some guilty rich kid guilt me out of enjoying life and living comfortably.
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kudos to her and all.. What is the end goal here, to sit cozy in a tiny apartment ? 
That is the antithesis of Wall Street.
Although, you can tell she accelerated quickly. Her bonus pool at her firm had to be strong to get to $MM in savings that quickly, specially as analyst (assuming she started like everyone else).
That is the antithesis of Wall Street. Although, you can tell she accelerated quickly. Her bonus pool at her firm had to be strong to get to $MM in savings that quickly, specially as analyst (assuming she started like everyone else).
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She worked for an investment firm. What else could would be she be that could possibly pay that much at such a young age? Even ivy league kids start at the bottom (relatively speaking at investment firms). She def wasn't a partner. I'm just saying there's parts of the story that need more explaining.
I think the story is a lot less interesting if it was" I used the savings and mutual fund Accts my parents funded for me to continue investing money and growing them over the years"
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True. We're probably overthinking it. More than likely her folks gave her a fund that was accruing interesting since she was a kid, they probably paid for her college in full and then she worked for 2-3 years until she felt as though she could live comfortably in a 325 sq ft apt without ever having kids. It also helps that her husband still works....shhhiiii in that case I know plenty of 28 year old women who are retired. If I were her husband I'd be lowkey resentful that we have no kids, I work all day and you "retired" but whatever. I'm still jealous though b/c she's my age and retired though. I couldn't comfortable live in a 325 sq ft apt though. I like my space, I like to entertain and I hope to have a family one day. Being that close to anyone would drive me crazy. Chick ain't even got a wall.
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p4l
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100k/yr tuition at Harvard. She must have had 7 figure salary to go chill in Mongolia while it's accruing interest.
More likely she got the silver spoon treatment. Parents paid for school in full, and some "fun" money and gave her a huge head-start. She ain't that frugal if she's living in NYC. Shoulda picked Minnesota
More likely she got the silver spoon treatment. Parents paid for school in full, and some "fun" money and gave her a huge head-start. She ain't that frugal if she's living in NYC. Shoulda picked Minnesota
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you can't assume her tuition was that much. Majority of Harvard students don't pay near that
antidope
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Redacted.
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"JP started investing before she even left Harvard, at the age of 19. She worked at the investment firm for seven years. Not even eight years after her college graduation, JP no longer works, and has a net worth of $2.25 million"
As a person works in finance, there's a lot more to the story than is being told.
Not hating, just want those who see stuff like this to understand that there are a ton of factors that aren't detailed in the article.
She said she had a 13% annual return in her first million...
During a time where the S&P was on fire, and a 13% returns weren't out off the norm.
Yep...
There's more.
As a person works in finance, there's a lot more to the story than is being told.
Not hating, just want those who see stuff like this to understand that there are a ton of factors that aren't detailed in the article.
She said she had a 13% annual return in her first million...
During a time where the S&P was on fire, and a 13% returns weren't out off the norm.
Yep...
There's more.
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She said 40% of her net worth is from Investing so thats $900,000 that she gained from Investing. The other $1,350,000 is from saving
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hmm...
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I wish I can be a part of #teamfrugal and stack 65% of what I make
Somebody teach me how
Somebody teach me how
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I wish I can be a part of #teamfrugal and stack 65% of what I make
Somebody teach me how
live in a 325 sq ft apt, don't entertain/go out. cook/eat-in, guy all your furtinure from Craigslist, don't own a car, don't have kids /thread.
antidope
Supporter
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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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Wouldn't it be best to buy your own apartment and put rent towards your mortgage?
paulprince3730
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literally typed the same thing then was like "let me scroll and see if anyone used their brain" lol
not to take away from what she worked on, but shes in a forbes article boastin, perspective
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lolwut? do you even math, bro?
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Reading things like this makes me wonder why folks who hit the lottery go broke lol...
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Damn. I messed up in life...
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Sounds like she joined a private equity shop after her Mongolia stint.
She must've been an absolute rainmaker in those years.
She must've been an absolute rainmaker in those years.