I was initially talking about the total amount earned throughout a career. As a student I lived off roughly 10k USD/year (in Norway). Today I spend quite a bit more, but if my goal in life was to “get rich”, let’s say I could live off 20 k per year. Making ≈200k and paying 40 % tax (the ceiling in Norway is around there), I would still net 140k/yr after “cost of living”, which would bring me to around 5.6 mill (net) throughout a career.
I was initially talking about the total amount earned throughout a career. As a student I lived off roughly 10k USD/year (in Norway). Today I spend quite a bit more, but if my goal in life was to “get rich”, let’s say I could live off 20 k per year. Making ≈200k and paying 40 % tax (the ceiling in Norway is around there), I would still net 140k/yr after “cost of living”, which would bring me to around 5.6 mill (net) throughout a career.