Has been extremely painful but man it feels good. Can’t tell anyone irl other than my FA so sharing here. Debating whether to try to retire instead of grinding out another few years

(This is all pre tax and in CA so a lot less than it seems

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49143677)

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49143683)

8 figures is fuck you money, so even if you don't retire right away it gives you the choice to do so on your terms.

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49143695)

Unfortunately not quite in sf Bay Area but it doesn’t hurt

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49143846)

So need another 20 pre tax to really be comfortable, end up at 20m after tax excluding primary residence which is 800k/year safe withdrawal rate

Then I tink I’m done

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49143850)

LJL at $9.5M for that

LJL at $3k in insurance + $10k in property tax for it, per month, every month, forever

And LJL that the boomers who currently live there pay less than half of that in property tax per month

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49144161)

This is Bay Area life. Tons of opportunity but insane wealth

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49144211)

How old is the company? I assume you were on the ground floor, founder or employee 1, something like that?

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49143827)

Last few years I’ve basically been absent

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49144213)

House first. I live in a piece of shit 3m home that would be 150k in flyover. Debating tear down or just buying new, don’t have energy to tear down and rebuild while doing this job

Other than that may buy a nice watch and a vacation and fly biz cvlsss on vacations. And help out family as needed

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49144216)

Likely grinding for 2-4 more years for the earn out then really some

And if I burn out before then whatever guess we aren’t flying private

One debate is whether to just build a new house on our lot for 3-4m instead of buy a new one for 8

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49144240)

Need another 10 or so after tax and can be done

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49144277)

He could take his $12 million and move ANYWHERE not CA/NYC and easily live phat on $500k.

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49144493)

the point is you have more than enough for fuck you for life money if you choose to move outside CA. who cares about a "network" if you can just... retire? you have enough to buy both sets of parents extremely nice houses in addition to your own if you move anywhere else. if you're not at least considering that as a realistic option you're just lying to yourself to stay in the rat race

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49145094)

$20MM is enough to have 3 generations set for life if properly invested. What kind of legacy do you want to leave behind?

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49145947)

This happened to me. I do whatever the fuck I want now. I mostly hang out with my kids and write shitty novels. I used to play around with cool tech but I am not terribly interested in AI and it moves too fast for someone who isn't fully invested in keeping up with all the new gay shit

I help out on the steering committee of a programming language. That's enough tech for me these days.

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49144518)

How much did you make, how did you think about retirement ability/withdrawal rate et c?

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49145077)

I have friends who are early retiring off 3m to live in a van (no kids), doesn’t sound that fun to me

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49145078)

Not too many startups where early employees get 8 figures.

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49145042)

even if you don't want to leave the state, have you considered a ning?

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49145060)

“ California followed suit in 2023 when Gov. Gavin Newsome signed a bill effectively banning ING trusts. As PwC noted in its explanation of the law, the state now treats California residents who transfer assets into ING trusts as the owners of those entities and subjects distributions from the trusts to state income taxes”

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49145074)

Living in an $8M house means you'll feel the pressure to have a lifestyle that matches, which means you'll probably spend a lot more than you anticipate. $8M houses are for people worth $50M+ and with multiple properties. Not someone with 50% of their assets tied up in one house.

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49145304)

Seconded on the east bay though. If you pick the right area (Piedmont/Kensington) there are some very nice homes; but the issue is the culture especially if you have kids…but then again that’s more of an endemic issue in the area.

There’s always Marin too.

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49145353)

I am not retiring right now though still got young kids in diapers

Probably gonna do it a couple more years try to double the number and then can be comfortable wherever, but very mindful of the fucked up rich kid dynamic

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49145390)

Maybe angel investing if I’m still in the area but right now the idea of it makes me lol. Would be happy to be completely detached from ecosystem

(http://www.autoadmit.com/thread.php?thread_id=5756431&forum_id=2)#49145451)