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I don't know how long she's been married so being in a couple may have nothing do to with what she has accumulated. I wonder if she got ANY help from parents. Even if they just helped her out a little that still -- helped her get where she is. (Did she have no school loans?)
Also as a Harvard grad -- I'm sure her NYC investment firm employer wasn't paying her peanuts.
No doubt, what she's managed to accumulate IS great. But I doubt it's 100% because she lived like a pauper.
Reminds me of Wall Street types who make hundreds of thousands or more for a decade -- and then leave the rat race to live out their dream running a bicycle shop or organic farm in Vermont.
But that is you. I live in the high cost SF Bay Area, which some say is worse than NYC on less than that. Granted, I have great benefits such as low health care premiums, but still.
makes a big difference with your low cost healthcare , our healthcare and long term care premiums run 16k a year . oooph yeah , that is in after tax dollars , not pretax like when working too . rent in our stabilized apartment and healthcare alone is 36k a year . so 65k in pretax dollars would not cut it for us .
we would have to live in areas's we don't want as well as take on additional exposure healthcare wise on 65k . nope , no thanks , i would rather work as long as i was able if that was the case .
Last edited by mathjak107; 11-17-2016 at 02:15 AM..
Not to be totally un PC, but how many women want to live in a closet sized apt, in NYC, pinching every cent for their entire 20s, instead of living life a bit. There's this thing called balance...
Also, based on the article, it is apparant she comes from a well to do family, endured no student loans, etc. It is a LOT easier to live like that knowing there is an unspoken backup bailout if things go awry. It's still impressive, don't get me wrong, and kudos to her, but it is also practically a one off oddity of lucky investing, timing, sacrifice, and the right single minded determination of mindset. And when did this husband and dog materialize? I've never met anyone willing to go to those extremes to get there. Though it IS a similar story to the parasitic blogger FinancialSamurai. There is no real point to the article, except that if you are really lucky, come from the right family, can get accepted to Harvard and land a high paying job in investing at the beginning of the longest bull run in history, then you can amass a small fortune if you can handle living in NYC like A person making $24k a year. Meh.
If her "retirement" depends upon returns like the past 8 years, she's in for a world of hurt. Good thing she has a husband that still works.
Not even that, she's two years younger than me. I don't want to know how much two millions dollars will be worth if I reach my 70s (or up). Almost three million isn't a lot to begin with in NYC.
manhattan can be way way more expensive to live than the boroughs if you want a decent area in manhattan.
a one bedroom in places like kew gardens in queens , a rent stabilized apartment can go for about 1700 a month .
about 1/2 of all housing in nyc and the boroughs are multi family buildings over 5 family and are stabilized . unless you lived in the apartment along time rents are pretty much market .
a lot of rental buildings went through co-op conversions as a means to get out from rent stabilization eventually . many were non eviction plans so existing tenants who didn't buy remained as tenants and the apartments stayed stabilized until the tenant is out , then the apartment is no longer regulated . so each year as boomers relocate we are seeing less and less stabilized apartments left .
You take things too literally. I'm walking 1-1.5 every day, swim in the afternoon, gardening, trading, cooking 3 meals a day and travel often. But that is still technically doing nothing. My brain will rot if I retire in my 20s.
I may take things too literally or possibly you exaggerate too much. Your brain isn't going to rot retiring in your 20s and staying active
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