Why isnt everyone in biglaw retired by 35?
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Poast new message in this thread
Date: January 18th, 2017 7:25 PM Author: racy black woman
J.D. PROGRAM EXPENSES
FOR NON-RESIDENTS
FALL
2016
SPRING
2017
ACADEMIC YEAR
2016-2017
Tuition and Fees (Total)
$26,326.75
$26,326.75
$52,653.50
Student Services Fee
(formerly University Registration Fee)
$537.00
$537.00
$1,074.00
Tuition (formerly Educational Fee)
$5,610.00
$5,610.00
$11,220.00
Berkeley Campus Fee
$537.25
$537.25
$1,074.50
Class Pass Fee
$70.00
$70.00
$140.00
Professional Degree Supplemental Tuition
$13,435.00
$13,435.00
$26,870.00
Law Instructional Materials Fee
$15.00
$15.00
$30.00
Non-Resident Supplemental Tuition
$6,122.50
$6,122.50
$12,245.00
Living Expenses (Total)
$12,427.00
$12,427.00
$24,854.00
Rent & Utilities*
$6,558.00
$6,558.00
$13,116.00
Food*
$3,506.00
$3,506.00
$7,012.00
Personal (maintenance, clothing, recreation, etc.)
$790.00
$790.00
$1,580.00
Transportation
$1,573.00
$1,573.00
$3,146.00
Books & Supplies
$763.00
$763.00
$1,526.00
Health Insurance Fees**
$2,073.00
$2,073.00
$4,146.00
Total Non-Resident Student Budget***
$41,589.75
$41,589.75
$83,179.50
(http://www.autoadmit.com/thread.php?thread_id=3495249&forum_id=2#32402145) |
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Date: January 18th, 2017 7:29 PM Author: demanding bisexual institution mood
135K after tax on average per year.
100K after tax after rent on average per year.
100K x 10 years before your student loans are paid off and all other expenses.
650K in an index fund =/= retirement.
(http://www.autoadmit.com/thread.php?thread_id=3495249&forum_id=2#32402172) |
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Date: January 18th, 2017 7:33 PM Author: demanding bisexual institution mood
26K a year is enough now. it wouldn't be enough as you age because of inflation. 26K a year 20 years from now is like 15K.
if you need 26K now, you'll need 40K in 20 years, 70K in 40 years.
all the FIRE blog math ignore inflation.
(http://www.autoadmit.com/thread.php?thread_id=3495249&forum_id=2#32402209) |
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Date: January 18th, 2017 7:47 PM Author: demanding bisexual institution mood
You're talking returns. I'm talking expenses.
Yes $1m yields 40k indefinitely but you'll need more than 40k in the future if you need 40k now because inflation.
The 4% withdrawal rate everyone talks about is tested over 30 year retirements based on 100% equities and really great economic growth years. You net more than 4% irl and the excess helps pay for higher expenses because of inflation.
Retirement at 35 needs to prep for 60 years.
(http://www.autoadmit.com/thread.php?thread_id=3495249&forum_id=2#32402321) |
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Date: January 19th, 2017 4:30 PM Author: transparent thriller orchestra pit
Could you help an xo brother looking to do the same? I want to do this but I'm unsure about the strategy.
Single family homes, condos, duplexes, or something else?
Are tenants a pain in the ass? I'm afraid of 2 AM calls to plunge toilets.
What income demographic are you aimed at?
(http://www.autoadmit.com/thread.php?thread_id=3495249&forum_id=2#32408738)
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Date: January 19th, 2017 3:02 PM Author: Onyx sanctuary
Why didn't Tom Brady retire at 35 with a few hundred million in the bank?
Eye of the Tiger
(http://www.autoadmit.com/thread.php?thread_id=3495249&forum_id=2#32407943) |
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