alt Hacker News$250k+ a year means ~$12k monthly salary.
A semi decent apartment in SV will cost you ~$3k
Bills(phone, internet, electricity, etc) another $1k.
If you are married, groceries at least $1k.
Even if we assume you don’t do anything else in life, and you are in perfect health best case scenario would be $6k savings a month or $72k a year.
It would take you 10 years to save $720k plus whatever you make from investments.
That’s not enough to even buy you a house in SV. How are you going to retire?
Unless you assume you will get $250k straight out of college and keep up salary raises for 25 years.
Sure, if you don’t have kids, age with no health problems, never enjoy anything in life, you may be able to retire at 50 in Thailand or Philippines.
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6k month over the past decade is circa 1.7m today depending on which index fund you chose.
Assuming a 4% draw down (conventionally agreed to be safe) is over 5.5k a month.
Rent? Ever heard of equity? If you make 250k you can afford a nice condo. Right away that blows a huge hole in your math.
Also $1k month on bills? Groceries too?
Judging by your inflated costs for everything, and ann idea that a house (versus more modest accommodations) is what the goal is, you’ve got Lifestyle creep. And, things certainly get a lot easier when your spouse also works.
why would you would be saving for house and renting at same time ?
2k a month for daycare or nursery school lol
$2k per month for groceries and utilities for a married couple is insanely high, in any part of the country.