Author Topic: the Magic Number - $100 million to retire?  (Read 2071 times)

SnackDog

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the Magic Number - $100 million to retire?
« on: December 23, 2017, 01:48:38 PM »
Some people have wild ideas of the bare minimum for affording to retire.

http://nymag.com/nymetro/news/bizfinance/finance/features/834/

I agree with the sentiment that serial entrepreneurs tend to continue working all their lives regardless of wild success or complete failure.  Ron Popeil is still on TV and he's about 80.

scantee

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Re: the Magic Number - $100 million to retire?
« Reply #1 on: December 23, 2017, 03:04:33 PM »
Quote
"I did my MBA in 1990," says Dan Perla, a good-natured 34-year-old who runs his own hedge fund.

Oh really?

runbikerun

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Re: the Magic Number - $100 million to retire?
« Reply #2 on: December 23, 2017, 03:25:05 PM »
The article was published in June 1999, so...

sol

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Re: the Magic Number - $100 million to retire?
« Reply #3 on: December 23, 2017, 03:35:13 PM »
The article was published in June 1999, so...

That significantly changes my interpretation of all the people in that article who were retiring on their millions in "start-up web ventures".  Hope it wasn't in pets.com.

runbikerun

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Re: the Magic Number - $100 million to retire?
« Reply #4 on: December 23, 2017, 03:48:47 PM »
The article was published in June 1999, so...

That significantly changes my interpretation of all the people in that article who were retiring on their millions in "start-up web ventures".  Hope it wasn't in pets.com.

Yeah, I suspect a lot of people in the article were quite a bit further from their magic number a year or so after the article was published.

FINate

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Re: the Magic Number - $100 million to retire?
« Reply #5 on: December 23, 2017, 04:16:49 PM »
Sad. Killing yourself for dreams of houses in Monaco, Texas and Manhattan seems so foreign and pointless having now experiencing the simple joys of modest FIRE.

I can understand wanting to make lots of money for philanthropic reasons. For example, the idea of a well funded nonprof providing interest-free payday loans to the poor (thereby driving traditional payday loan companies out of business) is appealing to me, would be meaningful effort.

But to work more just to buy more shit, just to impress people...meh, I don't get it. 

BlueMR2

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Re: the Magic Number - $100 million to retire?
« Reply #6 on: December 23, 2017, 06:26:19 PM »
Well, I *would* love to live in Monaco...  However, not gonna kill myself to do it.  Quite content where I am now!

MgoSam

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Re: the Magic Number - $100 million to retire?
« Reply #7 on: December 23, 2017, 10:06:54 PM »
I don't have any desire to live in Monaco. I can just imagine being miserable there. A place filled with the superrich where if I had a billion I would probably feel poor compared to some squash buddies, and meanwhile knowing that everyone not rich is only super nice to me because they want a good tip.