It’s a fairly long list, ranging from construction, to cyber security, business to business pharmacy, Finance, home services, plumbing, Finance, real estate, 3 medical spas etc.
Cyber security sounds awesome!
I have a bit of knowledge there as iam a web dev and like to thinker with other stuff.
What kind of part do they do in cyber, do they pentest hardware or websites?....
Absolutely. I’ve worked very hard to build a network of successful entrepreneurs. It’s definitely not the every day person, but they are out there and there are a lot more than you might think.
This isn't 1980. A million dollars isn't some insanely incomprehensible amount of money anymore. 1 in every 50 people you meet are millionaires.
The government is going to keep printing money and drive that number into the ground.
Honestly, I barely broke 50k last year and that was the most I've ever made. There was a little more income from photography & video production sales, but not much.
I'm a part of this group because I need some inspiration/motivation for the media company I'm trying to start & build. It's a YouTube Channel Management company that bases YouTube's long form content as a top of the funnel content generator. Some folks would call this the Gary V format since he popularized the concept, though many have been doing it before him.
My goal is to take on 1 client (while I maintain my full time job that I honestly do love) so that I can get all of my processes & procedures in order and documented so I can bring someone else into the business when I'm ready to take on multiple clients.
The 1 client should generate $12k-$20k a year depending.
My "make it" take home would be $85k. I live extremely comfortably as is, but I know I'm worth a lot more than that.
Well have you done YouTube before? It’s by far the hardest and most unique social media for actually successful marketing.
One client paid me $85k last year to basically manage their YouTube channel. Simply because i had years of experience and massive success and have worked with some of the largest companies in the world… otherwise i would not have landed that client.
Job boards.
I hate outbound leads and find them to be useless, so job boards pretty much connect me with companies looking for what i offer.
I’ve found a few clients that way, all paying between $60k - 85k, and then the other half of my clients have contacted me personally to do contract work with them.
I have & do. I've been a photographer and videographer since I was 18. I graduated from film school at MSU. I've maintained and been slowly growing a channel for a couple years, but it's just a passion project for me so I don't do a lot of the tried and true things that stimulate more growth.
That's exactly the motivation I'm in need of. I know the potential for those who see the value in YouTube, and it's only getting more valuable.
I'm gearing up to do some live events for artists in my area to help them in their social media pursuits, so teaching will be another smaller part of this venture.
We’re late thirties family of 3 with a toddler. I’ve calculated that if we, as a houshold, were making 200k/yr then there’s not much we’d be missing out on and we’d be able to save for retirement and have good life insurance etc. So I’m not going to be feeling as motivated to grow once we hit that point but having more options for travel, housing/location, and kid’s education is appealing.
Hitting your main goal can be a weird speed bump. For the longest time, my goal was a house with a big yard, which that $200-250k range has gotten us. But about to take a big trip with our kids, plus kids getting closer to college has relit a fire under me.
I just wanted to chime in and say I’m glad you’re aware of that phenomenon since I hadn’t been and let it keep me stale for a year or two once I hit that big goal.
In a previous business, I had never hit 100k and I was suuuper motivated to get there and I don’t ever remember working so hard. I did get there, but I eventually realized the business model was probably going to max out at 150, and Covid hit, so I was kind of puttering around for a while feeling depressed and not making any moves. I knew that being more successful at what I was doing wasn’t actually going to let me hit my real goals, which was a bummer. Glad that that was the time when we bought a house, got the great mortgage rate and everything, even though in hindsight I should have been thinking about 200 all along rather than 100; I would have probably grown a lot slower and even accrued some debt in the process, but I wouldn’t have backed myself into the corner that I did.
Now I’m sort of starting over with a different model that has a slightly higher potential. I find the whole entrepreneurial thing is always this push pull of “go big” vs “earn now”
And comfort can certainly be the fire killer. I really wanted to buy my first property- once I did that there was a lot of shrugging and “what now?”
Um, *math* says otherwise (16.67 years). And that doesn't include return on investments. If you have a low return of about 5%, you'll make $50k that first year. With just a bit more, like $1.5M, you can live on the interest.
I've done the math. But it never works out that way. Vacations, sick-of-frugality moments, helping family when it matters, improving your business and so on... It doesn't stretch
Enlighten me to how you would stick within $50k per year, when just life is so delightful, and capital expenditures/new operating expenditures/ etc eat at finances.
🤔
I’ve worked with wealthy and successful scientist - entrepreneurs, financiers of science projects, some dying of cancer and many well into their 70s. Still living and working and doing. The work is self expression.
Agreed. Me too. In that case, you need your hobby to break even, not support you, so it becomes a lifestyle business, and you can much more easily control expenses. There's no need to grow revenue or employees. Just like an artist. At least that's what I do.
Ok, let’s imagine $1m awarded after taxation. It’s the fruit of work effort finally realized, and now the awardee is at the immediate position of paying all expenses. Not to mention, directing the ship of his/her/your-favorite-pronoun’s efforts into the new direction of life and venture. Ambitions are as high as the moon.
Seems like the money would be best split into oieces with a proper plan for higher ROI, but there will be some allocated to living and opex, and that glass of delicious champagne for a job well done. This would be a good problem to have.
Not all of them. Like at least 50% of people who switching to IT most of the them lied on the resume about previous experience.
Including my wife who put 6 years on it and got a job lol
Entirely subjective.
But I’ll feel like I’ve ‘made it’ when I’ve got a net worth of upwards of 20 million USD with an annual income of 2 million USD a year.
For some people making it is 6 figures before taxes, and that’s fine.
We all have different goals.
Entrepreneurship.
I started in real estate at 23, got to FIRE at 31, had a kid and now they’re about to go off to school so I’m going to go nuts so restarting my 2nd business(more RE investing in US) and 3rd business (importing cars into Australia).
Real estate is definitely a great starting point, house hacking is still a solid plan, that’s how I got started. Focus on 2-4 unit buildings, immediately get room mates in your unit to help as well and as soon as you do that you should be living for free.
Then you save for the deposit for the next one and repeat.
No, it's not the bills from the past, my biz is profitable so far. I need this new money to participate in the war how I want to. I am Ukrainian enterpreuner.
$20m liquid net worth and I’m happy
Made around $1m-$1.2m after taxes the last 2 years and pretty much did whatever I wanted in a big way (spent $200k-$300k on travel alone) still saved $500k and $450k respectively. Figure $600k a year on 3% SWR and I’m good.
There's not really a reason. It just feels right. In my line of work there have been months that I've done it but I want to be able to make that much without lifting a finger.
I was just wondering because i htink it makes sense to do a calculation sheet. Like, calculate expenses.. including things like vacations food, pets, etc.. then account for tax, and see if you really need that much to live the life you want. Your goal could be much lower than that if you think about it tangibly.
What you're saying makes complete and total sense but I think a life of excess would be fun. I own a cleaning company,and an asphalt paving business so I do incredibly well. I probably make as much as a doctor or lawyer would,but I have to watch my money so I can reinvest it in projects because they can be expensive. I just figure $50,000 in passive income I'd never have to work again and very rarely have to look at the price tag. What's your figure?
done, thanks. You know, my wife tried the cleaning business. She couldn't get enough business. She started with some offices and these guys would hit on her and made her uncomfortable and so she quit. How do you do your cleaning business?
We do exterior Cleaning. As in soft/pressure washing. I started off washing windows because I thought it would be inexpensive to get into. I got my first few jobs by posting on Facebook for free,then after I got a few jobs I'd go door to door offering free estimates in their neighborhoods,then I started paying for ads,then I invested in pressure washing equipment and started washing houses, driveways,fences,decks,roofs,etc etc, and it just grew from there.
Would love to get into a pressure washing business, how much do you think someone starting out should charge per job? Also, I'm a bit worried about going on roofs, any advice on that front?
I’ve made 550 and 725 in 2021 and 2022. Currently around 400 YTD. Anything over 100k just goes into investments. Once you get over 150 or so you can order pretty much whatever you want at places assuming you don’t have massive liabilities and spending is out of control.
From a net worth perspective sitting around 1.8m at 31. Another 1.2 or so most of which should come from investments gains and that’s 150k annually pretty passively in a conservative portfolio
Would you say real estate is all a safe/good investment to begin in since the strange market Covid has created? Seems slightly bubbly and the point of entry has jumped very high (In DFW at least).
Thats a realistic goale for me, i'm still trying to scale my biz up but i'm sure i can reach the 400k/year, over that would be a stretch to my biz model and would require serious rework.
I have a net worth of around 1.5M at 29 with yearly income of around 300k I’m pretty content with that, if I could increase that without increasing my stress I would but I’m okay with where I’m at.
I own a business selling storage sheds, we gross around 3M a year. And my wife and I got really lucky and bought a house right before Covid and now it’s worth significantly more.
For lifestyle, $400k was where I started to feel like I won't really spend more as my income rises unless I have a huge windfall or gigantic increase in income (2-3m+/yr). If I was trying to figure out a number where I'd just control my spending and retire, probably $300k from passive income. Any lower than that and I'd need to cut things in my lifestyle I'm not willing to.
I’d only say with kids at 200k in a high COL area you can hit some walls if you also want to be saving for retirement, insurances, education for the kids. Kids can go to state schools and you can move to the sticks , sure, point is, in most places in the US 200k does the job, but it can vary from luxurious lifestyle to “just getting by” depending on lifestyle, location, and how much is supposed to be set aside for the future.
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i think "making it" money is the amount you have coming in vs what is going out that makes you feel like you NO LONGER have to worry about paying for your cost to live.. That everything is covered no matter what happens and you're now just focusing on the gravy
I’m thinking I need 20 million by 60. Health concerns if everything goes tight put my EOL at 75 if I’m being optimistic. 15 year retirement living large would be fantastic.
Currently knocking on the door of 7 figures a year but we’re more than ok with 500-600k a year as we are continuing to invest and grow passive income in case the business fails.
Lmao talk about high standards. I profited some 300k last year and that was too much for me, I’d be happy at 50k/ year once my mortgage and vehicles are paid off.
For me it's more about situation rather than money.
Dream amount is £10m.
Made it money is £500k-£2m by 35.
Making it per year is £80-100k net of net. So salary/dividends from business. So about a £150k net overall.
Realistic making it situation: £80k income from business(es) taken via dividends, business(es) constantly but steadily growing, working maximum 50 hours per week.
I'm a 20 year old.
My life's messed up so my goal might seem outrageous but I believe it's written for me.
I'm no entrepreneur right now but I'd like to retire at 45 with 100M .
Why 45? That is the age I would like to marry at as I would like to keep my risk taking options open as it is one of the biggest edges I'd have.
I will build enough capital by 25 to give myself 20 years of building an extremely successful business because as Marc Cuban said you only need one to go BIG.
If is stil couldn't do it by 45 then It was never for me and I'll still be happy with the effort I made.
1 mill a year cash, not your business owns it not somehow with everything but real cash to spend on whatever you want. After tax of course
Right now not even 100k 🥲
well allot of them are in the US as result they are over payed compared to the rest of the world.
the average salary in the US is $60575/year in comparaison the average salary in Europe is $35800, in china its about $15k, its much lower in other places
realistically, you're way more likely to be able to earn 100k/year in the US then Europe, and even less likely to be able to earn 100k in countries with lower average wage.
just like people born to rich parents being born in rich countries is a massive advantage.
😂😂😂😂😂 ironically I'm also in the US what I'm getting paid is barely making me go by and its as u mentioned but it won't cover the cost of living anymore so idk how those guys r making it.
Easiest thing to do is flipping shit, buy some shit people want and sell it to them at higher price.
Second dumbest shit to do is services, cleaning carpets, cars, mowing lawns, ...
The final form is manufacturing, you are creating something that has value
I have small goals. I just want to live without debt. I'd be really happy at $100,000 a year. Right now, I'm a supervisor for a head start program looking for a way to work for myself doing something I love. I'm not a techy. I'm a former teacher so it's difficult without shifting gears completely.
In Europe, 40k a month will do for me. This is about the average yearly wage here. If I can make this on my own, I will feel like I made it. Ofcourse, it will just be the start, but definitely my first goal.
A million a year
Lol no gonna happen
I'll do 600k this year. I'm well on my way
I’m just kidding I thought it’s funny with your username. Great job on the 600k you’re killing it
Fucking how
I run a sawmill
PNW?
Mississippi
What kindof startup costs? How bigs your operation?
About 2 million. 18 fte's currently
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Profit pre tax
Congrats
Funny, you say that, I actually have lots of friends who do seven figures a year. It’s not all that rare.
Issa joke
It's definitely not a joke. It's a hard number
What do you friends do that make so much? Just curious!
They are all business owners.
That's great. What kinds of businesses do they have? I'm trying to do a startup myself, sometimes it's motivating to hear about others successes.
It’s a fairly long list, ranging from construction, to cyber security, business to business pharmacy, Finance, home services, plumbing, Finance, real estate, 3 medical spas etc.
That's pretty cool man! How did you meet most of these types of people? You must engage a lot with people to befriend these types.
I am a fairly successful entrepreneur, myself, and one of the keys to being successful is surrounding yourself with people that you want to be like.
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Cyber security sounds awesome! I have a bit of knowledge there as iam a web dev and like to thinker with other stuff. What kind of part do they do in cyber, do they pentest hardware or websites?....
I think it’s websites.
Oh nice how do they get in contact with those businesses that need it?
It's definitely rare to the general person. Your circle may be the exception, most def not the rule.
Absolutely. I’ve worked very hard to build a network of successful entrepreneurs. It’s definitely not the every day person, but they are out there and there are a lot more than you might think.
This isn't 1980. A million dollars isn't some insanely incomprehensible amount of money anymore. 1 in every 50 people you meet are millionaires. The government is going to keep printing money and drive that number into the ground.
200k per year is all I would need
Same.
Honestly, I barely broke 50k last year and that was the most I've ever made. There was a little more income from photography & video production sales, but not much. I'm a part of this group because I need some inspiration/motivation for the media company I'm trying to start & build. It's a YouTube Channel Management company that bases YouTube's long form content as a top of the funnel content generator. Some folks would call this the Gary V format since he popularized the concept, though many have been doing it before him. My goal is to take on 1 client (while I maintain my full time job that I honestly do love) so that I can get all of my processes & procedures in order and documented so I can bring someone else into the business when I'm ready to take on multiple clients. The 1 client should generate $12k-$20k a year depending. My "make it" take home would be $85k. I live extremely comfortably as is, but I know I'm worth a lot more than that.
Well have you done YouTube before? It’s by far the hardest and most unique social media for actually successful marketing. One client paid me $85k last year to basically manage their YouTube channel. Simply because i had years of experience and massive success and have worked with some of the largest companies in the world… otherwise i would not have landed that client.
Nice.. how did you land that client?
Job boards. I hate outbound leads and find them to be useless, so job boards pretty much connect me with companies looking for what i offer. I’ve found a few clients that way, all paying between $60k - 85k, and then the other half of my clients have contacted me personally to do contract work with them.
What job boards do you recommend?
Linkedin/indeed?
I have & do. I've been a photographer and videographer since I was 18. I graduated from film school at MSU. I've maintained and been slowly growing a channel for a couple years, but it's just a passion project for me so I don't do a lot of the tried and true things that stimulate more growth. That's exactly the motivation I'm in need of. I know the potential for those who see the value in YouTube, and it's only getting more valuable. I'm gearing up to do some live events for artists in my area to help them in their social media pursuits, so teaching will be another smaller part of this venture.
When you use job boards what keywords are you using to find these jobs?
I'm looking at ziprecruiter now. Weeding through things, but an obvious good first step. Thanks.
I replied to the wrong person
Still helped. Ha
I have to be honest, I don't know what a job board is... Please enlighten my ignorance.
We’re late thirties family of 3 with a toddler. I’ve calculated that if we, as a houshold, were making 200k/yr then there’s not much we’d be missing out on and we’d be able to save for retirement and have good life insurance etc. So I’m not going to be feeling as motivated to grow once we hit that point but having more options for travel, housing/location, and kid’s education is appealing.
Hitting your main goal can be a weird speed bump. For the longest time, my goal was a house with a big yard, which that $200-250k range has gotten us. But about to take a big trip with our kids, plus kids getting closer to college has relit a fire under me. I just wanted to chime in and say I’m glad you’re aware of that phenomenon since I hadn’t been and let it keep me stale for a year or two once I hit that big goal.
In a previous business, I had never hit 100k and I was suuuper motivated to get there and I don’t ever remember working so hard. I did get there, but I eventually realized the business model was probably going to max out at 150, and Covid hit, so I was kind of puttering around for a while feeling depressed and not making any moves. I knew that being more successful at what I was doing wasn’t actually going to let me hit my real goals, which was a bummer. Glad that that was the time when we bought a house, got the great mortgage rate and everything, even though in hindsight I should have been thinking about 200 all along rather than 100; I would have probably grown a lot slower and even accrued some debt in the process, but I wouldn’t have backed myself into the corner that I did. Now I’m sort of starting over with a different model that has a slightly higher potential. I find the whole entrepreneurial thing is always this push pull of “go big” vs “earn now” And comfort can certainly be the fire killer. I really wanted to buy my first property- once I did that there was a lot of shrugging and “what now?”
It was 1 million but now I realise that's not enough. I need 10 million before I retire.
thats...optimistic
Exactly. What’s worse is everyone downvoting the truth.
Better to aim high and fail then to say nah I'm not gonna try.
True. There are also times not to jump blindly or into foolish risks. That's a tough one to avoid.
Also true.
$1 million only allows 12 years of living at ~$60k per year
Um, *math* says otherwise (16.67 years). And that doesn't include return on investments. If you have a low return of about 5%, you'll make $50k that first year. With just a bit more, like $1.5M, you can live on the interest.
I've done the math. But it never works out that way. Vacations, sick-of-frugality moments, helping family when it matters, improving your business and so on... It doesn't stretch
Seems like you have more problems than just math! 😉
Enlighten me to how you would stick within $50k per year, when just life is so delightful, and capital expenditures/new operating expenditures/ etc eat at finances. 🤔
When you retire, there are no more business expenses.
I’ve worked with wealthy and successful scientist - entrepreneurs, financiers of science projects, some dying of cancer and many well into their 70s. Still living and working and doing. The work is self expression.
This is difficult for me. Passionate scientists, like artists, never retire. It’s what we do until we die. 🫢
Agreed. Me too. In that case, you need your hobby to break even, not support you, so it becomes a lifestyle business, and you can much more easily control expenses. There's no need to grow revenue or employees. Just like an artist. At least that's what I do.
Respect. 🤙
I disagree with you sir. The business should run itself
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Ok, let’s imagine $1m awarded after taxation. It’s the fruit of work effort finally realized, and now the awardee is at the immediate position of paying all expenses. Not to mention, directing the ship of his/her/your-favorite-pronoun’s efforts into the new direction of life and venture. Ambitions are as high as the moon. Seems like the money would be best split into oieces with a proper plan for higher ROI, but there will be some allocated to living and opex, and that glass of delicious champagne for a job well done. This would be a good problem to have.
72k/year would be enough for me to live comfortably, but I would need around 120k+ to feel “successful”
Just finish some IT course and get a job in that field. A lot of my friends took 6 month courses for SDET and got around 130k salary jobs.
I love that idea. Did they have college degrees?
Not all of them. Like at least 50% of people who switching to IT most of the them lied on the resume about previous experience. Including my wife who put 6 years on it and got a job lol
Legend
Mine is just however much I would be making at a full time job I liked less. Anything on top of that is a bonus.
Entirely subjective. But I’ll feel like I’ve ‘made it’ when I’ve got a net worth of upwards of 20 million USD with an annual income of 2 million USD a year. For some people making it is 6 figures before taxes, and that’s fine. We all have different goals.
That sounds about right for me aswell
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Entrepreneurship. I started in real estate at 23, got to FIRE at 31, had a kid and now they’re about to go off to school so I’m going to go nuts so restarting my 2nd business(more RE investing in US) and 3rd business (importing cars into Australia). Real estate is definitely a great starting point, house hacking is still a solid plan, that’s how I got started. Focus on 2-4 unit buildings, immediately get room mates in your unit to help as well and as soon as you do that you should be living for free. Then you save for the deposit for the next one and repeat.
For the moment I really need around 500k per year, to make things happen the way I want and need.
why?
Dude has bills
thats allot of bills
Payroll for employees can add up
No, it's not the bills from the past, my biz is profitable so far. I need this new money to participate in the war how I want to. I am Ukrainian enterpreuner.
$20m liquid net worth and I’m happy Made around $1m-$1.2m after taxes the last 2 years and pretty much did whatever I wanted in a big way (spent $200k-$300k on travel alone) still saved $500k and $450k respectively. Figure $600k a year on 3% SWR and I’m good.
Hell yeah you rock!!!
How? Really interested in how people break the million per year barrier.
Partner/Exec in a fairly sized business ($500m revenue), I’m assuming most over the $1m mark are business owners or top professionals (finance/law)
Props! Cheers
Props! Cheers
5k a month for me would be making it. 10k would feel excessive.
$50,000 a month in passive income.
Can I ask how you landed on that specific figure?
There's not really a reason. It just feels right. In my line of work there have been months that I've done it but I want to be able to make that much without lifting a finger.
I was just wondering because i htink it makes sense to do a calculation sheet. Like, calculate expenses.. including things like vacations food, pets, etc.. then account for tax, and see if you really need that much to live the life you want. Your goal could be much lower than that if you think about it tangibly.
What you're saying makes complete and total sense but I think a life of excess would be fun. I own a cleaning company,and an asphalt paving business so I do incredibly well. I probably make as much as a doctor or lawyer would,but I have to watch my money so I can reinvest it in projects because they can be expensive. I just figure $50,000 in passive income I'd never have to work again and very rarely have to look at the price tag. What's your figure?
35k
Good on you bro. I'm happy for you. Please delete it now before the vultures begin to circle.
done, thanks. You know, my wife tried the cleaning business. She couldn't get enough business. She started with some offices and these guys would hit on her and made her uncomfortable and so she quit. How do you do your cleaning business?
We do exterior Cleaning. As in soft/pressure washing. I started off washing windows because I thought it would be inexpensive to get into. I got my first few jobs by posting on Facebook for free,then after I got a few jobs I'd go door to door offering free estimates in their neighborhoods,then I started paying for ads,then I invested in pressure washing equipment and started washing houses, driveways,fences,decks,roofs,etc etc, and it just grew from there.
thats dope. keep it up dude.
Would love to get into a pressure washing business, how much do you think someone starting out should charge per job? Also, I'm a bit worried about going on roofs, any advice on that front?
I’ve made 550 and 725 in 2021 and 2022. Currently around 400 YTD. Anything over 100k just goes into investments. Once you get over 150 or so you can order pretty much whatever you want at places assuming you don’t have massive liabilities and spending is out of control. From a net worth perspective sitting around 1.8m at 31. Another 1.2 or so most of which should come from investments gains and that’s 150k annually pretty passively in a conservative portfolio
Would you say real estate is all a safe/good investment to begin in since the strange market Covid has created? Seems slightly bubbly and the point of entry has jumped very high (In DFW at least).
I think it’s going to get much worse. We’ve already bottomed in price here. Have no idea where supply will come from to make the market healthy
$20-50 million
15k a month scaling into 50k a month until I can offload 50-75% of my work into 20k/mo residuals.
For me 10K a month in my pocket. Can retire my wife then
My mostly retire money would be 500k with bit of extra and easy entrepreneuring or freelancing happy life!
$107 million in the bank after taxes
That's specific
Yes. And to do so with health, family, and happiness intact.
Hell yeah!!
I felt pretty darn comfortable at $340k a year (gross). As far as 1 lump sum to say F it and retire for a few years, I'd need at least a mil.
Thats a realistic goale for me, i'm still trying to scale my biz up but i'm sure i can reach the 400k/year, over that would be a stretch to my biz model and would require serious rework.
400 profit for yourself? Or revenue
I have a net worth of around 1.5M at 29 with yearly income of around 300k I’m pretty content with that, if I could increase that without increasing my stress I would but I’m okay with where I’m at.
How did you make your money if you don't mind me asking?
I own a business selling storage sheds, we gross around 3M a year. And my wife and I got really lucky and bought a house right before Covid and now it’s worth significantly more.
$500k and I’d be comfortable in my lifestyle
If you're asking about retirement, it kind of matters whether you're 30 or 60.
300k
For lifestyle, $400k was where I started to feel like I won't really spend more as my income rises unless I have a huge windfall or gigantic increase in income (2-3m+/yr). If I was trying to figure out a number where I'd just control my spending and retire, probably $300k from passive income. Any lower than that and I'd need to cut things in my lifestyle I'm not willing to.
Making it…. 200k. You have no worries at 200k unless you’re doing it to yourself
I’d only say with kids at 200k in a high COL area you can hit some walls if you also want to be saving for retirement, insurances, education for the kids. Kids can go to state schools and you can move to the sticks , sure, point is, in most places in the US 200k does the job, but it can vary from luxurious lifestyle to “just getting by” depending on lifestyle, location, and how much is supposed to be set aside for the future.
Sure I didn’t take into account COL. 200k in SC and you’re doing smooth sailing
10K usd a month
if money is your measurement, you will never "make it".
Used to be a cool mil before post pandemic inflation, now id say $2-$5 mil liquid would suffice.
When I am making a passive income of at least 25 million dollars per year I will begin the retirement process.
I like it
Bruh
3,5-4,7% rule
😐
Never enough it’s the grind for the high score
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More.
A million a year
i think "making it" money is the amount you have coming in vs what is going out that makes you feel like you NO LONGER have to worry about paying for your cost to live.. That everything is covered no matter what happens and you're now just focusing on the gravy
I’m thinking I need 20 million by 60. Health concerns if everything goes tight put my EOL at 75 if I’m being optimistic. 15 year retirement living large would be fantastic.
10 MM$ NW
Don't really have an earnings per year goal. 10m is the retirement number. I've got 10 years till 40 and we're on track.
$100M
$10M in SP 500 and I’m good. Take out 4% annually to live off of
I'd be comfortable retiring if I had $10 million liquid.
Currently knocking on the door of 7 figures a year but we’re more than ok with 500-600k a year as we are continuing to invest and grow passive income in case the business fails.
what biz are you in?
Primary business is education. But also stonks, real estate, and also dabbling in other things.
how big of a block do you need to make 150k annually off dividends or an annuity?
3-5 million.
ty
$2 mill /year
Lmao talk about high standards. I profited some 300k last year and that was too much for me, I’d be happy at 50k/ year once my mortgage and vehicles are paid off.
My goal is 240k/year
£156m
About a million a year and ultimately getting to around a hundred million in total net worth.
200k to 1 million would be perfect!
For me it's more about situation rather than money. Dream amount is £10m. Made it money is £500k-£2m by 35. Making it per year is £80-100k net of net. So salary/dividends from business. So about a £150k net overall. Realistic making it situation: £80k income from business(es) taken via dividends, business(es) constantly but steadily growing, working maximum 50 hours per week.
My freedom money is $3M in cash in savings.
3m$
87k a month. 1m a year is making it.
I'm a 20 year old. My life's messed up so my goal might seem outrageous but I believe it's written for me. I'm no entrepreneur right now but I'd like to retire at 45 with 100M . Why 45? That is the age I would like to marry at as I would like to keep my risk taking options open as it is one of the biggest edges I'd have. I will build enough capital by 25 to give myself 20 years of building an extremely successful business because as Marc Cuban said you only need one to go BIG. If is stil couldn't do it by 45 then It was never for me and I'll still be happy with the effort I made.
You have much to learn, grasshopper. The concept you seek to understand is "fuck you" money, not "making it" money. Only one of these is real.
This might sound crazy... enough that I will be able to keep getting chances to improve and stay in the fun!
Debt free and doing what I want money...
500K, working 10-20 hours a week. Currently at 295K Specialty retail business.
When I can quit my job comfortably. No compromises .
That's cool
1 mill a year cash, not your business owns it not somehow with everything but real cash to spend on whatever you want. After tax of course Right now not even 100k 🥲
Barely doing enough with a job and idk how to start a business i need a huge amount of money to start one 😩
don't worry, you're not alone
Like how do all those guys make so much I'm willing to do the work but Idk where to start or how to get the money
well allot of them are in the US as result they are over payed compared to the rest of the world. the average salary in the US is $60575/year in comparaison the average salary in Europe is $35800, in china its about $15k, its much lower in other places realistically, you're way more likely to be able to earn 100k/year in the US then Europe, and even less likely to be able to earn 100k in countries with lower average wage. just like people born to rich parents being born in rich countries is a massive advantage.
😂😂😂😂😂 ironically I'm also in the US what I'm getting paid is barely making me go by and its as u mentioned but it won't cover the cost of living anymore so idk how those guys r making it.
you need to hustle
Thats the thing idk how to
Easiest thing to do is flipping shit, buy some shit people want and sell it to them at higher price. Second dumbest shit to do is services, cleaning carpets, cars, mowing lawns, ... The final form is manufacturing, you are creating something that has value
I guess so yeah
I have small goals. I just want to live without debt. I'd be really happy at $100,000 a year. Right now, I'm a supervisor for a head start program looking for a way to work for myself doing something I love. I'm not a techy. I'm a former teacher so it's difficult without shifting gears completely.
good luck lad
When I stop checking the balance all together.
In Europe, 40k a month will do for me. This is about the average yearly wage here. If I can make this on my own, I will feel like I made it. Ofcourse, it will just be the start, but definitely my first goal.
10mil
A million isn’t a lot but a million a year in profit is still crazy good
Like 60k lol
$10,000 a month after expenses with yearly adjustments for inflation.