r/financialindependence • u/fidgit86 • Aug 13 '21

What do you do that you earn six figures?

It seems like a lot of people make a lot of money and it seems like I’m missing out on something. So those of you that do, whats your occupation that pays so well?

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u/atypicaltool Aug 13 '21

I don't know I did. Single, started off at 100k, ended up at 170k with comp year 6, left after 9 years. Retired at 32. Lab tech btw. Investments did good, but no moonshots, at 1.6M now.

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u/magnafides Aug 13 '21

Just curious, where do you live and what are your expenses like? 1.6M isn't enough to retire at 32.

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u/atypicaltool 29d ago

Right now I'm kind of a vagabonder. I have a 55$ phone bill, and I guess a 50$ truck insurance payment. This is new so I can't give you an accurate budget. I also have a very aggressive portfolio and I sell option contracts. Yes 1.6M is more than enough to retire on depending on your budget.

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u/magnafides 29d ago

So are you saying that if someone is able to get by without a house payment/rent, a car payment, or any other real expenses they could retire on that amount of money? And they can get there by 32 if they take risky investments and are lucky enough to have those pan out? I mean, that's great for you but hardly a repeatable formula for early retirement.

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u/atypicaltool 29d ago

Everyone here claims a safe withdraw rate of 4%. 4% of 1.6M is 64,000 a year and this shouldn't eat into your principal. This is almost 5 times above the american poverty level. I think I'll be able to manage.

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u/atypicaltool 29d ago

Never in my posts did I state everyone or even most could achieve this. I was just answering OPs question. I realized I was fortunate in my income especially without a compsci degree. I would hope if most people chose they could live off of 64k a year. My brother retired early at 30 and raised a family of 4 on 33k a year including house payment without issue in California. I'm just a family of 1