That guy, too.Yep. He's doing pretty darn well with extra time to spend with his family. Sounds like a self-absorbed knob to me.Thoughts on this?
I can tell from one tweet that this is not a guy I would like to hang out with.
Oh relax, I'm talking about the twitter poster.
He’s simply selling his “consulting”. In your OP you say he’s not one of the buy my book guys. But he’s got an agenda, just covers it up better.I am engineer and am purely a W2 worker, so in essentially the same spot. I get to do rocket science, raise my kids, take vacations, and still save for retirement. This ain't a bad outcome.I'm not tracking. Guy surely has a comfortable middle class life and can pack away 24k a year. At 7% return until 65 that's 2.6M at retirement + SS. Dude is golden.
That was me. Guy makes 150k, can save 2k a month and has a low stress life and time with his kids.
The fact this guy calls that situation "difficult" because he won't be able to be truly "wealthy" was eye opening for me.
Guy says a couple of tweets later in the thread when someone commented about the 2+ million for retirement:
That is not at all significant wealth.I would guess in 25 years retirement isn't an option with $2.4 million in the bank.
Eh, that's not inflation adjusted (with inflation it will be more than 2.4M). Fact is 2.4M, inflation adjusted or not, with a pension (social security) will be a fine retirement in 30 years. Saying otherwise is pretty silly, IMO.
Agreed. I think it highlights how far expectations have drifted from what I think is a "difficult" situation.
At best, it's insulting it feels.
But I also know there a huge contingent (especially on twitter) of the wannabe billionaire bro guys all about that hustle life. This guy is in a situation that's better than 98% of all people in the world and the dude is calling that a "difficult" situation. And then mocking anyone who disagree with him as angry broke people. Wild.
Agree. No reason to attain “true” wealth, when one can be perfectly happy and fulfilled with those kind of “difficult” circumstances.I'm not tracking. Guy surely has a comfortable middle class life and can pack away 24k a year. At 7% return until 65 that's 2.6M at retirement + SS. Dude is golden.
That was me. Guy makes 150k, can save 2k a month and has a low stress life and time with his kids.
The fact this guy calls that situation "difficult" because he won't be able to be truly "wealthy" was eye opening for me.
2 kids + wife - this is the most important thing in that post and in his life. Hopefully he's in a loving marriage and everything else doesn't matter.
One thing I've noticed is how little empathy is applied in many situations like financial future.
I know people who find happiness in being in the very top % of financial success. And are willing to make the sacrifices needed to get there.
I know other people who are in the situation of the guy making comfortable money, saving well for retirement, and having a stress level they're great with and time for family.
I don't presume to tell either group what will make them happy.
Thismean, to me, this is a silly couple sentences. "too easy AND profitable" ...."get out of this situation" . How many people in the US would want to be in this situation of too easy and profitable?
Get out of a too easy and profitable situation to what? Too much stress and no time to enjoy your money? But just enjoying what you have doesn't get clicks
I am not saying this because I am in need, for I have learned to be content whatever the circumstances. I know what it is to be in need, and I know what it is to have plenty. I have learned the secret of being content in any and every situation, whether well fed or hungry, whether living in plenty or in want.
It's easier than it's ever been.Edit....obviously some people can do this. But you need an actual good idea and a market that can support it. Very very few people can become wealthy (or even comfortable) via their hobby/passion project
I'll stick up for this guy a little bit. The world needs people who feel "trapped" by a steady $150K/yr job. We maybe don't need a huge number of those people, but we need a few.He’s a consultant. That explains most of it.
He’s also a consultant for people looking to own a business and strike it big. He operates in a bubble and talks to people in that bubble. What he says makes sense in that bubble.
Otherwise he comes across as a ****. I deal with people like this in my job. If you don’t want to work your life away to make huge money, you’re lazy. Not everyone wants that.
I’m not going to have generational wealth. I’ll retire comfortably and baring a disaster, leave a nice amount for my kids. I’m perfectly happy about that.
Everything is about perspective.
For some, this is an ideal situation.
For some, this is a difficult situation.
I wouldn't get worked up about anyone taking either position here.
This might be one of the worst takes ever. Not everyone is uber-ambitious to say nothing of the fact that there are people in difficult situations that would kill to change places with his client.Do you agree with the author that his consulting client is in a "difficult" situation?
I didn’t read this as “life is difficult, it sucks” but more of a “Jessica Alba or Scarlett Johansson” difficult.This is a very popular entrepreneur guy on Twitter. He's not a flake or "Look at my Lambo - buy my course so you can get one too" guy.
He's a well-respected influential entrepreneur with a large following.
x.com
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I did a consulting call today with a 33 year old guy who makes $150k a year at a fully remote job.30-40 hrs a week. 2 kids + wife.
This is a really tough spot to be in.
Makes $2k a month more than he spends every month.
Zero chance at long term wealth but too easy and profitable to leave.
Golden handcuffs.It takes a serious level of ambition to get out of this situation and go buy or start a company.
It’s hard to get excited about scraping and fixing toilets or power washing sidewalks when you make $75 an hour at your day job.
And it’s impossible to feel comfortable buying a company if you don’t start out lower and work your way up (with that stuff that isn’t exciting when you get a taste of decent money).
Difficult stuff.
Thoughts on this?
Do you agree with the author that his consulting client is in a "difficult" situation?
Everything is about perspective.
For some, this is an ideal situation.
For some, this is a difficult situation.
I wouldn't get worked up about anyone taking either position here.
Of course. Nobody is "worked up" that I see. I do think it's an interesting discussion though.
As it hits on a big topic that I don't know gets enough discussion: How do you define "enough"? How to define happiness seems like it gets a lot of play but the offshoot of "contentedness" is in the mix somewhere as well.
I guess that begs the question - why do we need to define what is "enough"?Everything is about perspective.
For some, this is an ideal situation.
For some, this is a difficult situation.
I wouldn't get worked up about anyone taking either position here.
Of course. Nobody is "worked up" that I see. I do think it's an interesting discussion though.
As it hits on a big topic that I don't know gets enough discussion: How do you define "enough"? How to define happiness seems like it gets a lot of play but the offshoot of "contentedness" is in the mix somewhere as well.
No, we are assuming he's going to be able to keep his remote job for the next 30 years.Are we assuming the $2k a month is the guy's only savings? Or is there a 401k or 403b or SEP or anything else part of it?
I don't understand why we're hung up on this. There are lots of steady jobs that pay this sort of salary. They're well above the national average of course, but earning $150K isn't that special. There are certainly way more of those jobs than there are "hustle your way to a private yacht" jobs.No, we are assuming he's going to be able to keep his remote job for the next 30 years.Are we assuming the $2k a month is the guy's only savings? Or is there a 401k or 403b or SEP or anything else part of it?
I guess that begs the question - why do we need to define what is "enough"?Everything is about perspective.
For some, this is an ideal situation.
For some, this is a difficult situation.
I wouldn't get worked up about anyone taking either position here.
Of course. Nobody is "worked up" that I see. I do think it's an interesting discussion though.
As it hits on a big topic that I don't know gets enough discussion: How do you define "enough"? How to define happiness seems like it gets a lot of play but the offshoot of "contentedness" is in the mix somewhere as well.
That you are asking the question goes back to my point - it's going to be different for everyone, and it's dangerous to pass your judgement unto someone else. What makes you happy, won't make someone else happy - and vice versa.
So, there really is not much of a discussion to be had.
If something makes you happy - great. If it does not make someone else happy - also fine.
One thing I've noticed is how little empathy is applied in many situations like financial future.
I know people who find happiness in being in the very top % of financial success. And are willing to make the sacrifices needed to get there.
I know other people who are in the situation of the guy making comfortable money, saving well for retirement, and having a stress level they're great with and time for family.
I don't presume to tell either group what will make them happy.
There’s another life lesson that can be learned from this. You need to decide what you want out of life.
Seems like a tough decision to me.
How many have multi decade job security?I don't understand why we're hung up on this. There are lots of steady jobs that pay this sort of salary. They're well above the national average of course, but earning $150K isn't that special. There are certainly way more of those jobs than there are "hustle your way to a private yacht" jobs
It's easier than it's ever been.Edit....obviously some people can do this. But you need an actual good idea and a market that can support it. Very very few people can become wealthy (or even comfortable) via their hobby/passion project
There’s another life lesson that can be learned from this. You need to decide what you want out of life.
Yeah I won't speak for the twitter guy, but I'd bet he meant tough decision, not situation. Might even be a bit pedantic to argue one vs. other, particularly since it was a tweet and folks are looser with word choice. But you're right, the guy's situation is not difficult. He's even fortunate to be in the situation to consider those options.Seems like a tough decision to me.
Understanding what I think the consulting guy was trying to say, I think it's this. Tough decision.
That's wildly different than a tough situation. I know people (as I'm sure everyone else here does) that are in tough situations that are not in the same universe of "Do I leave this cushy 150k a year job and try for something bigger?".
Yeah what's wrong with that?I'm not tracking. Guy surely has a comfortable middle class life and can pack away 24k a year. At 7% return until 65 that's 2.6M at retirement + SS. Dude is golden.
The four decades in a job you don't like part of it.Yeah what's wrong with that?I'm not tracking. Guy surely has a comfortable middle class life and can pack away 24k a year. At 7% return until 65 that's 2.6M at retirement + SS. Dude is golden.
Yeah I won't speak for the twitter guy, but I'd bet he meant tough decision, not situation. Might even be a bit pedantic to argue one vs. other, particularly since it was a tweet and folks are looser with word choice. But you're right, the guy's situation is not difficult. He's even fortunate to be in the situation to consider those options.Seems like a tough decision to me.
Understanding what I think the consulting guy was trying to say, I think it's this. Tough decision.
That's wildly different than a tough situation. I know people (as I'm sure everyone else here does) that are in tough situations that are not in the same universe of "Do I leave this cushy 150k a year job and try for something bigger?".
Another question some have touched on, though. $150k does not seem like a lot of $. Granted, I live in the Bay Area so my perspective is skewed.
And I think the guy should go for it. He's 33. Plenty of time to take a chance and recover if it doesn't work out.
Another question some have touched on, though. $150k does not seem like a lot of $. Granted, I live in the Bay Area so my perspective is skewed.
There’s another life lesson that can be learned from this. You need to decide what you want out of life.
I was sort of faced with this in 2007 or so. My copywriting biz was rolling, and I had some big projects for some big companies. I hired more freelancers and was well on my way to leading an agency. And I was hating it... I hate having people under me. I don't like "leading" in the classic job sense.
So I put the brakes on. Went back to solopreneur, and have happily been there ever since. It limits me monetarily, but I'm ok with that. I make enough.
Yeah I was looking at the end result.The four decades in a job you don't like part of it.Yeah what's wrong with that?I'm not tracking. Guy surely has a comfortable middle class life and can pack away 24k a year. At 7% return until 65 that's 2.6M at retirement + SS. Dude is golden.
Right....people need to figure out what they want outta life.If the only way to have a decent life is for everyone to own their own business, then who is left to be the employees?
Just sounds like content bait from another Twitter grifter.
"Most jobs don't have multi-decade job security. Therefore, it's reasonable to bail on one of those jobs to chase that wild goose over there."How many have multi decade job security?I don't understand why we're hung up on this. There are lots of steady jobs that pay this sort of salary. They're well above the national average of course, but earning $150K isn't that special. There are certainly way more of those jobs than there are "hustle your way to a private yacht" jobs
I didn't say these jobs don't exist. But how many people with these jobs are one merger away from job hunting?
I may have missed it, but I didn’t see anything in the OP about Mr. $150K being unhappy.It's possible to be well paid, unhappy and locked in. That is a difficult spot to be in. I know many unhappy well paid professionals.