The math on this makes no sense at all.
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- Live off of $15k a year. Don't buy a house. Don't buy a fancy car. Just save.
- Do this for a year.
- Land a job that makes you $100k a year. Save the rest. Max out your 401k contribution.
- Celebrate by living off of $30k a year.
- Do this for three years.
- Land a job that makes you $140k a year. Save the rest. Max out your 401k contribution. Get a Roth, put $5k a year into that.
- Celebrate by living off of $60k a year.
- Do this for three years.
>
He is talking about SAVING, $500,000. Then needing to liquidate your 401k, just to take off a year?
If he is capable of living on 60k before this, he should be able to live almost 10 years just on his savings without liquidating the 401k.
>
- Live off of $15k a year. Don't buy a house. Don't buy a fancy car. Just save.
- Do this for a year.
- Land a job that makes you $100k a year. Save the rest. Max out your 401k contribution.
- Celebrate by living off of $30k a year.
- Do this for three years.
- Land a job that makes you $140k a year. Save the rest. Max out your 401k contribution. Get a Roth, put $5k a year into that.
- Celebrate by living off of $60k a year.
- Do this for three years. >
He is talking about SAVING, $500,000. Then needing to liquidate your 401k, just to take off a year?
If he is capable of living on 60k before this, he should be able to live almost 10 years just on his savings without liquidating the 401k.