I keep hearing about this Amazon thing. Maybe some day I will try it.

Can an 18 years old person save enough to have 1 million by the

age of 35?

Someone told me you can save enough to have 2.5 millions by the time you retire...not sure it is true.
Permalink WildRiver 
April 20th, 2017 9:44pm
Is the transition from Vietnamese to English that difficult?
Permalink Shylock 
April 20th, 2017 9:45pm
Yes and no.  Can a 18 years old...there I corrected it.
Permalink WildRiver 
April 20th, 2017 9:49pm
No. "Can an 18 year old person".
Permalink Shylock 
April 20th, 2017 10:00pm
Yeah it's easy. Go to a good engineering school. Get a degree by age 22. Your salary is $120,000. Rent a cheap apartment or live with roommates, live cheap. Put $72,000 a year in very modest and cautious stocks that have a long term return of only 4%.

After 13 years you have $1,225,034.44.
Permalink Pestular Croaker 
April 20th, 2017 10:06pm
In fact anyone who did the normal thing and started college at 18 and graduated 22 who also got an engineering degree must have really fucked up if they didn't do a lot better than this. It's hard to get that low a return on stocks over 13 years. Also you'll have to get no raises at all, no stock options, no bonuses, etc. You'll have to basically suck.

If you're not an absolute imbecile you should have vastly more than that.
Permalink Pestular Croaker 
April 20th, 2017 10:09pm
Yes, and your stock investment should have tripled in 2000 and tripled again in 2008. It was easy killing.
Permalink WildRiver 
April 20th, 2017 10:13pm
Of course, your timing has to be precise. You sold at the top and bought again at the bottom. It's always a huge win!
Permalink WildRiver 
April 20th, 2017 10:14pm
You're a complete fucking idiot.
Permalink Pestular Croaker 
April 20th, 2017 10:24pm
But think of how deprived you'll feel to save so aggressively instead of lavishly spending it all.

You definitely won't feel deprived by working at some soul crushing office job for your entire adult life.
Permalink Wabi-sabi 
April 20th, 2017 10:24pm
Yeah a lot of guys want to live the life. A friend of mine got the job at a big company in the bay. Within five years he'd gotten married, taken out a 2 million mortgage on a crappy house, and spent over $400k on a stupid Lamborghini which his wife wrecked the second month he had it. He's always broke and complaining about stuff like how he can't afford to sent his kids to college.
Permalink Pestular Croaker 
April 21st, 2017 12:35am
>> Go to a good engineering school. Get a degree by age 22. Your salary is $120,000. Rent a cheap apartment or live with roommates, live cheap. Put $72,000 a year in very modest and cautious stocks that have a long term return of only 4%.

You've just confirmed that the fair value, market price for a knowledge worker is $48k / year!

Anything that an employee can save from his salary is excess wage and action should be taken immediately to correct the abnormal situation.
Permalink Io 
April 21st, 2017 6:47am
$40k there is taxes, so you have to live on $8k. Not a problem if you're in good health, living with roommates, company has a free lunch policy plus snacks.
Permalink Pestular Croaker 
April 21st, 2017 9:05am
You've just confirmed that the fair value, market price for a young knowledge worker is $8k / year!
Permalink Io 
April 21st, 2017 9:16am
> You've just confirmed that the fair value, market price for a knowledge worker is $48k / year!

Fortunately there are all of these other, similarly skilled workers with severe consumerism addictions to drive up the cost of labor.

😎😎😎
Permalink Wabi-sabi 
April 21st, 2017 9:18am
No, he should pay for apprenticeship for an indeterminate period before being eligible for financial rewards.
Permalink Lotti Fuehrscheim 
April 21st, 2017 9:18am
>> No, he should pay for apprenticeship for an indeterminate period before being eligible for financial rewards.

Excellent observation from Lotti.

You've just confirmed that the fair value, market price for a young knowledge worker is actually *minus* $8k / year!
Permalink Io 
April 21st, 2017 9:52am
Easiest way to retire early is to not join the workplace in the first place. Cure the cause, not the symptoms!
Permalink Io 
April 21st, 2017 10:20am
I don't think it's worth it.  Your best years are between 18 and 35 and you're going to waste it by eating ramen noodles and living in a shithole.
Permalink Kenny the Robot 
April 21st, 2017 11:06am
>You've just confirmed that the fair value, market price for a young knowledge worker is actually *minus* $8k / year!

That is somewhat true.  For an entry-level worker, the cost of training them can be more than the value they produce.

That's why indentured servant H1-bs are preferable to US citizens (even for similar qualifications and salary).  You know they can't leave in a couple years for a better job.
Permalink FSK 
April 21st, 2017 7:13pm
"I don't think it's worth it.  Your best years are between 18 and 35 and you're going to waste it by eating ramen noodles and living in a shithole."

I've known so many people who think like that, their life is a constant struggle to satisfy some immediate gratification, they never get off that treadmill. Most of them are now complaining that they will never be able to afford to retire and they are correct about that.
Permalink libtard_uk 
April 22nd, 2017 3:30am
It's highly likely that even if you save a lot you won't be able to retire.

So what? you'll go down fighting.
Permalink Yoda 
April 22nd, 2017 11:41am
>stocks that have a long term return of only 4%.

These no longer exist.
Permalink Double Rainbow 
April 23rd, 2017 10:17am

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