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Ask HN: How do I get $2.2M dollars?

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41–50 of 110 posts

Re: Ask HN: How do I get $2.2M dollars?

#41

So you will need to generate 3.6% on your 2.2 million to take 80k a year. No idea what your tax rate is so i cant comment on how far out i am here. I doubt you can consistently make that kind of return year in, year out. Accounting for 2% inflation its looking even worse. There is a pretty good discussion here which expands further - https://www.reddit.com/r/investing/comments/5xmr3y/does_anyo...

I am aware of a real existing portfolio (not mine) which started with a sum slightly higher than 2.2 million in 1997 and invested in 70% medium risk mutual funds 30% lower risk bonds and real-estate. The portfolio has made a very consistent 6% per year since 1997. Almost exactly 3.6% after inflation.

Re: Ask HN: How do I get $2.2M dollars?

#42
post #12

The way for me is the stock market - building trading robots, this is the way to get your FU money and believe me it is well worth it and it is the ultimate freedom in life... I would recommend starting with Interactive Brokers or similar API (it is free), small linux VPS, some data for back testing and off you go, for around $100 you can start + a lot of time of course... Start by testing any trading strategy you ca…

What's your net worth?

Re: Ask HN: How do I get $2.2M dollars?

#43
post #12

The way for me is the stock market - building trading robots, this is the way to get your FU money and believe me it is well worth it and it is the ultimate freedom in life... I would recommend starting with Interactive Brokers or similar API (it is free), small linux VPS, some data for back testing and off you go, for around $100 you can start + a lot of time of course... Start by testing any trading strategy you ca…

Cryptocurrency currency bots can be way more profitable in my opinion, I'm working on this myself. The complexity is no joke, to build a truly robust system, but hopefully it will be worth it

Re: Ask HN: How do I get $2.2M dollars?

#44

I'm surprised no one has mentioned this, but if you want to attain your goal, you're basically swearing off having a serious relationship. It's very rare for you to meet someone serious about saving money. Before you know it, they're complaining that you never do anything even though you have plenty of money (relatively). Are you sure you won't want a relationship? You're young enough that within a decade you'll be a…

You seem to delight in not actually helping the OP with their considered and specific goal. I strongly recommend avoiding specific personal advice when people have clearly thought through what's best for them (and have stated so) when you have neither met them nor attempted to understand their specific personal life.

Re: Ask HN: How do I get $2.2M dollars?

#45

I'm surprised no one has mentioned this, but if you want to attain your goal, you're basically swearing off having a serious relationship. It's very rare for you to meet someone serious about saving money. Before you know it, they're complaining that you never do anything even though you have plenty of money (relatively). Are you sure you won't want a relationship? You're young enough that within a decade you'll be a…

You do not have to limit as a hermit to save up tons of money.

Daily "spending money" to go to the movies or the bar with friends is very very little when compared to the average salary of a Google engineer.

The way to save up money is to get a job that pays 2X or 3X more than a comparable job (or in other words, don't work for startups. Go work for one of the big 5 tech companies).

You are wasting your time if you are worrying about saving 20 dollars here and there by not going out to a bar with friends.

Re: Ask HN: How do I get $2.2M dollars?

#47

I'm surprised no one has mentioned this, but if you want to attain your goal, you're basically swearing off having a serious relationship. It's very rare for you to meet someone serious about saving money. Before you know it, they're complaining that you never do anything even though you have plenty of money (relatively). Are you sure you won't want a relationship? You're young enough that within a decade you'll be a…

> you're basically swearing off having a serious relationship.

Ha! What nonsense. It is cheaper for two people to live together, to cook together, to go on holiday together, to travel together, to game together, to invest together...

I'm struggling to think of anything that isn't cheaper when done as a couple. Even if you find the cheapest living space possible - it becomes a lot cheaper if someone else is contributing 50% of the costs.

Re: Ask HN: How do I get $2.2M dollars?

#48
post #36

the problem with living on a fixed income is some big unexpected inflationary event. This happened to my parents in the 70s. They retired in the early 70s and then BOOM inflation went nuts and what was a comfortable retirement turned into subsistence. doesn't seem likely anytime soon, but it is still a risk.

I don't see why this would be an issue, as you still have the principal, and such events can be amortized into the adjusted "income" you pay yourself out with.

Re: Ask HN: How do I get $2.2M dollars?

#49

I'm surprised no one has mentioned this, but if you want to attain your goal, you're basically swearing off having a serious relationship. It's very rare for you to meet someone serious about saving money. Before you know it, they're complaining that you never do anything even though you have plenty of money (relatively). Are you sure you won't want a relationship? You're young enough that within a decade you'll be a…

I agree with the spirit of your post ("make sure you actually want what you say you want"). But I wouldn't go so far as to say that you need to swear off relationships. Anecdotally, I (M) have found someone (F) who is just as serious as me about saving money, and we're very happy together.

In order to repeat finding someone like that, I'd suggest the following: open yourself up to all dating channels (in-person, online, Tinder, etc), make yourself visible, and be honest about your objectives. If you don't wanna be too direct about your frugality, you can casually name drop Mr. Money Mustache as a personal hero and anyone with similar interests will get the hint. Then once actually dating, aggressively cull anyone that doesn't meet your money-saving criteria.

As you might expect with all things dating, this is time-consuming, difficult, and discouraging at times. But if you're reading this, you're technically minded and you already understand that it's all just a numbers game, and success is just a matter of time. Adopt a systematic approach and you'll get there eventually

To end on another positive anecdote: I've met at least a handful of female candidates that are equally frustrated with the average guy not being seriously able to save money. So when you finally find the right person, the relief is mutual and it kicks off the relationship on a strong positive note.

Hang in there and good luck.

Re: Ask HN: How do I get $2.2M dollars?

#50
post #44

I'm surprised no one has mentioned this, but if you want to attain your goal, you're basically swearing off having a serious relationship. It's very rare for you to meet someone serious about saving money. Before you know it, they're complaining that you never do anything even though you have plenty of money (relatively). Are you sure you won't want a relationship? You're young enough that within a decade you'll be a…

You seem to delight in not actually helping the OP with their considered and specific goal. I strongly recommend avoiding specific personal advice when people have clearly thought through what's best for them (and have stated so) when you have neither met them nor attempted to understand their specific personal life.

Is there no value in criticism? Sometimes the correct answer is that you're asking the wrong question.
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