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Originally Posted by Baraka_Guru
Wow, that sounds risky. Where do you draw the line between investing and speculation? I guess it's a good thing you have less than 30% of your assets there. Would this be your retirement hobby? Tracking pork belly futures?
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I've found that I'm pretty damn good at it, so it'd be part hobby and part income.
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Originally Posted by Baraka_Guru
Anyway, where you'd be sitting in your scenario would work, in theory. But how will you climb into that position by retirement without a less cash-oriented strategy? What is your plan?
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The whole thing? It's a bit complicated. I'll give you the summarization:
I know that either by chance or by ability I've been able to find myself in relatively lucrative positions since I graduated. Considering that I'm going to be pursuing a career in the law in the next few years, I believe I can make a decent living between maybe 32 and 70. I already know a lot of people in the business now, and they've suggested that while I'll probably made as much after I graduate as I make now (about $80k a year), it's likely to increase a great deal if I follow a few bits of advice I've been given. A good friend of mine who has his own private practice earns around $500k a year. I'm hoping to make about $250k (or it's equivalent based on inflation) by 45-50. If I can maintain that income for a solid 15 years or so, I should be fine.