I am genuinely curious, what do you see as the big difference between a $5-6 million net worth (what I'm targeting in 2 years) and an $8 million net worth? It seems to me that either should allow one to rule out having to go back to work again in the event of a bad scenario. Or put another way, if I find myself having to go back to work after having saved $5-6 million, would an additional $2 have really made a difference? Thanks
If you spend 100k even 5-6M is borderline ridiculous imo. That's 50 years of living expenses, assuming a portfolio just keeping up with inflation. But you know that already.
Another perspective: 1M per annum vs. 4M net worth is basically a 25% "return on investment". In turn you do have to work full-time. That's really good. Once you hit 8M it drops to 12%, still good but less impressive.
Anyway, the only thing in my view what you need to consider from a financial perspective is what will extra money do for you other than providing you with a decent living? e.g. Do you want to fund startups, donate to charity, collect art, etc ..
If there is nothing there, only work if you enjoy it. You are one of the very lucky ones: wealthy enough to be free, young enough to have all the options to enjoy it.
(In case you were wondering: I'm 34 with +/- 750k usd or so)