My wife (29F) and I (33M) are both in high-finance and our current HHI is $900k, with both of us averaging ~60 hours/week. As we track toward MD/Partner, we expect comp to scale significantly, though the grind will likely shift from execution to originations/management rather than getting smaller.
We are currently projected to hit our number of $8-10mm in 7–9 years, with ranges due to returns / comp progression.
If we stay until 50 (another 17 years), we’re looking at $25-30mm. The delta between $10mm and $30mm is obviously massive in terms of lifestyle and generational wealth, but it costs us our 40s.
For those who pulled the trigger at the first "number," do you regret leaving the highest-earning years of your life on the table? How did you reconcile the psychological hurdle of walking away just as your hourly rate peaked? In practice, is the jump from a $350k lifestyle to a $1mm+ lifestyle actually worth it?
Would love to hear from folks who walked away from mid-to-high six-figure (or seven-figure) roles. Did the freedom outweigh the "what if" of the extra $20mm?
We have kids and also kind of want them to see us work to know that this just doesn’t happen - torn on this point, welcome thoughts here too.
EDIT: From those that did FIRE and/or do the SAH thing, did the opportunity to remove your future family from the capitalism rat race cause you any doubt? I am (selfishly?) in the camp of that I want to be a SAHD and enjoy my children but my wife thinks that the kids / grandkids would be better off with the additional financial flexibility. Welcome thoughts on this concept too