- Joined
- Jul 20, 2014
- Messages
- 395
Rep Bank
$1,340
$1,340
User Power: 186%
My accounting professor just worked out the math on how much we'll have in retirement if we want to be able to spend 80% of our 30-year salary, and people are it all up. "I'll have $6,000,000 in 30 years?! I'll only be 55!" No. You won't.
We assumed a $60,000 starting salary will become $300,000 in 30 years and he assured us that it was a conservative estimate for public accountants. We also assumed a "conservative" estimate that our savings will grow at 8% with stock market investments.
It's pretty amazing how pervasive the Slowlane model is, even within the walls of a graduate business school. My classmates scoff at me when I suggest that they'd be better off trying to start their own business, or that there might even be an alternative to working for 30+ years for a shot at comfort.
Most businesses fail within 5 years? If you're doing it right, it won't take you that long!
You don't have any good ideas? Let other people TELL you what your idea should be!
In a class of 47 "business-minded" students, I swear I'm the only one actually thinking about starting one instead of becoming a cog in someone else's machine.
We assumed a $60,000 starting salary will become $300,000 in 30 years and he assured us that it was a conservative estimate for public accountants. We also assumed a "conservative" estimate that our savings will grow at 8% with stock market investments.
It's pretty amazing how pervasive the Slowlane model is, even within the walls of a graduate business school. My classmates scoff at me when I suggest that they'd be better off trying to start their own business, or that there might even be an alternative to working for 30+ years for a shot at comfort.
Most businesses fail within 5 years? If you're doing it right, it won't take you that long!
You don't have any good ideas? Let other people TELL you what your idea should be!
In a class of 47 "business-minded" students, I swear I'm the only one actually thinking about starting one instead of becoming a cog in someone else's machine.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
