| Topic Name: |
Greed |
| Message Name: |
My favorite Wall Str |
| Date Posted: |
05/10/2000 |
| In Reply To: |
Okay, I am just guessing here, but this is my approximation at a good firm right out of business school, forget the stub and correct me if I'm wrong:
1st year $200,000
2nd year $300,000
3rd year $400,000
4th year $500,000
5th year $600,000
6th year $700,000
7th year $800,000
8th year $900,000
9th year $1,000,000
10th year $1,100,000
Total: $6,500,000
- 40% taxes = aprox $4,000,000
Figure add another million a year or so after taxes from here on forward and it would still take 16 years. But this doesn't include appreciation. It all depends what the stock market does. figure 10% a year and my guess is you would make it to 10 million in 10 years. Someone with an HP12C want to finish this analysis?
I think something you really REALLY need to take into consideration if you want to retire though, is that all this assumes that you're saving most of the money. What happens to a lot of people is they start spending and living big, and buying nice cars and houses. Most people here know about time value of money. With interest you will have much more money tomorrow if you save it today. You really have to know what you're doing with your money and look at interest rates, loan rate etc. |
| Message: |
My favorite Wall Street line:
"...That's because I never measured a man's success by the size of his wallet!"
If you love what you do, you'll never "work" a day in your life.
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