How much is enough for you to coast and not worry about job

[r2somewhere]

$3M for us. We are at about $2M and probably would be coasting already if it were not for the constant layoff threat and AI threat to career. We want to hustle to $3M and then coast.

People define coast differently. For us, it means not constantly interviewing and only focusing on job. And the kind of job too. Had enough of startups and FTE with perf reviews and that nonsense. Coasting will mean only contract jobs.

I am surprised you feel the constant threat of layoff and AI, given that you have been always upskilling/leetcoding etc.
I have been totally opposite, the last time I learnt something was SQL some 18 years ago and now it has been ages since I did any coding.
Yet, I have survived in banking, with just 4 jobs in the last 16 years. Current job is 9 years already and all I do is restart the server, when someone complains of performance issue, lol.

Everyone is threatened at least in US. I joined a company where people in 50s were working there for decade+. Even these people started getting laid off and forced retired in last 2 years. And reason given is AI. I feel this is the last hurrah for me. Got to scramble to 3M to give myself options. Picking up side hustles now that I have a gc to accelerate the process.

[desi4ever]

Everyone is threatened at least in US. I joined a company where people in 50s were working there for decade+. Even these people started getting laid off and forced retired in last 2 years. And reason given is AI. I feel this is the last hurrah for me. Got to scramble to 3M to give myself options. Picking up side hustles now that I have a gc to accelerate the process.

Dude with 3M, why would you need to side hustle ? Just you and your spouse - No kids, right ?

[r2somewhere]

Everyone is threatened at least in US. I joined a company where people in 50s were working there for decade+. Even these people started getting laid off and forced retired in last 2 years. And reason given is AI. I feel this is the last hurrah for me. Got to scramble to 3M to give myself options. Picking up side hustles now that I have a gc to accelerate the process.

Dude with 3M, why would you need to side hustle ? Just you and your spouse - No kids, right ?

We dont have 3M, thats our target. We are at 2M now. Hope to get to 3M with side hustles (picked one up already, doubled income). Yes, no kids. At 3M, we will stop with the side hustles and do only contracts until we coast to 5M. Then stop working in tech completely.

[desi4ever]

We dont have 3M, thats our target. We are at 2M now. Hope to get to 3M with side hustles (picked one up already, doubled income). Yes, no kids. At 3M, we will stop with the side hustles and do only contracts until we coast to 5M. Then stop working in tech completely.

Even 2M you should be fine depending on what stage of your life you are at and your spending habits/future goals. I'm sure you would have crunched your numbers. Just saying.

[r2somewhere]

We dont have 3M, thats our target. We are at 2M now. Hope to get to 3M with side hustles (picked one up already, doubled income). Yes, no kids. At 3M, we will stop with the side hustles and do only contracts until we coast to 5M. Then stop working in tech completely.

Even 2M you should be fine depending on what stage of your life you are at and your spending habits/future goals. I'm sure you would have crunched your numbers. Just saying.

At 37, I feel 2M wont be enough for another 40-50 years. I havent even gone through mid life crisis yet! Also, the worsening prospects for workers in general makes me think this is the last few years to make some money.

[wd40]

We dont have 3M, thats our target. We are at 2M now. Hope to get to 3M with side hustles (picked one up already, doubled income). Yes, no kids. At 3M, we will stop with the side hustles and do only contracts until we coast to 5M. Then stop working in tech completely.

Even 2M you should be fine depending on what stage of your life you are at and your spending habits/future goals. I'm sure you would have crunched your numbers. Just saying.

At 37, I feel 2M wont be enough for another 40-50 years. I havent even gone through mid life crisis yet! Also, the worsening prospects for workers in general makes me think this is the last few years to make some money.

I agree, unless you are into travelling or have some serious hobby, it is difficult to pass time. Especially when you have worked so hard all your career. It is difficult to go from 100km/hr to screeching halt in one shot. It makes sense find some relaxed meaningful and interesting project and keep working.

[r2somewhere]

Even 2M you should be fine depending on what stage of your life you are at and your spending habits/future goals. I'm sure you would have crunched your numbers. Just saying.

At 37, I feel 2M wont be enough for another 40-50 years. I havent even gone through mid life crisis yet! Also, the worsening prospects for workers in general makes me think this is the last few years to make some money.

I agree, unless you are into travelling or have some serious hobby, it is difficult to pass time. Especially when you have worked so hard all your career. It is difficult to go from 100km/hr to screeching halt in one shot. It makes sense find some relaxed meaningful and interesting project and keep working.

Its not time, its money. I have no issues passing time.

[JINSAKAI]

I wish / dream to join the 100M Club before I die. Actions I am taking is to maximize the income ( by diligently ) + get better returns (with some luck). Risks are Stock Market may go haywire and I may not able to achieve even 1/20 of the goal. Probably if my play accounts (I miss net-worth updates from WD40 who is inspiration for me) perform well for next few years, then I can create my separate thread "How I did it ?"

[SAPPORO]

I wish / dream to join the 100M Club before I die. Actions I am taking is to maximize the income ( by diligently ) + get better returns (with some luck). Risks are Stock Market may go haywire and I may not able to achieve even 1/20 of the goal. Probably if my play accounts (I miss net-worth updates from WD40 who is inspiration for me) perform well for next few years, then I can create my separate thread "How I did it ?"

Easy way to get there in your lifetime is to sell all the risky investments at their peak now and put them all in S&P 500 index fund. 1.5M should become 100M in 40-45 years with average 10% return every year.
Hard way is to get there (or not) is to keep the risky investments and have fun with it!

[JINSAKAI]

I wish / dream to join the 100M Club before I die. Actions I am taking is to maximize the income ( by diligently ) + get better returns (with some luck). Risks are Stock Market may go haywire and I may not able to achieve even 1/20 of the goal. Probably if my play accounts (I miss net-worth updates from WD40 who is inspiration for me) perform well for next few years, then I can create my separate thread "How I did it ?"

Easy way to get there in your lifetime is to sell all the risky investments at their peak now and put them all in S&P 500 index fund. 1.5M should become 100M in 40-45 years with average 10% return every year.
Hard way is to get there (or not) is to keep the risky investments and have fun with it!

Agreed, I am planning to rollover all individual stocks / risky ETFs from into VOO this year, luckily my non-play 401K account is already into SP500 ( FXAIX )