121–130 of 157 posts
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Athletes peak in their late 20s and early 30s. In intellectual endeavors (despite prominent counterexamples, half of whom were like Keats or Galois and died on ascent) most people peak in their late 40s or 50s. So there isn't the same call to quit after a few years of success.
Well, yes and no. Mathematicians for example are notorious for burning out young.
Let's quantify this, what number makes you rich?
Maybe I'd found a zoo.
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Knowing when to quit is also a skill. Especially applicable to professional sports.
Athletes peak in their late 20s and early 30s. In intellectual endeavors (despite prominent counterexamples, half of whom were like Keats or Galois and died on ascent) most people peak in their late 40s or 50s. So there isn't the same call to quit after a few years of success.
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$5m invested invested fairly conservatively can throw off 8%, or $400k / year. I'm sorry, but if you can't live on $33k / month, even in the Bay Area, you've got problems. A couple of those people in the article have homes worth over $1m that they own free and clear while they work 70 hours a week to make ends meet. Not smart. Mortgage the house to 70-80% (rates are dirt cheap right now) and invest the cash at the af…
Please link to a single "conservative" investment with an 8% yield.
I sold my startup a few months ago for enough cash that I never have to work or worry about money again. http://news.ycombinator.com/item?id=341565 I went to the most peaceful spot I could find, and relaxed. I did nothing. http://www.vimeo.com/1292105 After only a couple days, it was never more clear that I was never doing anything for the money anyway, and the reason I'm always working, driving, pushing, learning, g…
What I would really like to know is how much money it takes to get to that point. $5 million isn't enough according to a very interesting New York Times article: http://www.nytimes.com/2007/08/05/technology/05rich.html So how much does it typically take for someone in Silicon Valley to "solve the money problem"?
They all chose to live in Silicon Valley and continued to aspire to be hundred-millionares instead of enjoying what they have. Some people don't deserve their wealth.
Heck. I guess I'd do the same thing as now, except I'd have more resources to do it with.
Depending on HOW wealthy I am: - Clean up all friends/family student loans and credit - Build a new house, buy anything I want - Start a college fund for my nephew - Do it again
In your place, I'd make college funds for nephews (or anyone for that matter) obsolete, by making education really inexpensive if not free.
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What I would really like to know is how much money it takes to get to that point. $5 million isn't enough according to a very interesting New York Times article: http://www.nytimes.com/2007/08/05/technology/05rich.html So how much does it typically take for someone in Silicon Valley to "solve the money problem"?
BTW that NYTimes article you cite is boom-town trash. Published in 2007, just before things started going in the shitter. The mentality of the past 5 years was "more, more more" and it's almost sickening to read this account of how greedy these millionaires are/were. They all chose to live in Silicon Valley and continued to aspire to be hundred-millionares instead of enjoying what they have. Some people don't deserve…
So you're saying it's bad if rich people continue to build things instead of switching to being mere consumers?