Pick your salary

[TheStation]

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Who the [censored] picked 200k... Are you within 12-15 years of your death?

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you'd be living in relative poverty for the first 5 years with the doubling method....

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I think knowing the location of this job could change things, mainly the differance in cost of living in lets say the middle of missouri and los angeles

Depending on where it is, the $2,500 and $5,000 years will be super tough but at $10k it would become bearable in some places with super low cost of living

Also the OP said no outside sources of income becuase I would have said to just run up some credit cards but that seems like cheating

[TheBlueMonster]

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TBM,

Relative poverty? By year 5 you make a decent living to get by. If you can use some debt for the first 4 it becomes EZ.

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if you can live comfortable on 7500 for two years, it's very easy. But again, it's just you and the salary you chose.

[Thremp]

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I think "no outside monetary support" could mean no place to stay or food provided by anyone you know, etc and especially no money.

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correct

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Ah, so we're barred from the common fiscal tools of society. Much more interesting question.

[MDoranD]

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i think i could find enough friends and family members to help out with my expenses for the first 4 or 5 years knowing they would be paid back more than their share a few years after that.

I Take the 2500 a year to be making 8 figures a year in 13 years all day.

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the rule is you're not allowed outside help. You're completely on your own.

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When you say no outside help, do you mean i have to sustain myself off this 2500 regardless of my savings right now and possessions i own...or are we assuming you must give up those savings and objects to take this job?

[alec2927]

i would move to a 3rd world country for a few years with the doubling method

[tagtastic]

I still think I go the $2500 route, even if that means a few years in homeless shelters/etc. I imagine the experience would be meaningful.

Which one of these options would lead to a more fulfilling life at the end of it? I imagine the guy who's made both $2500/yr, $more money than currently exists/yr and everything in between would have a richer life to look back on.

[Toro]

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If you take the 200K job, after 7 years you would have grossed 1.4M and if you have used those 7 years wisely, could theoretically retire. If you take the 2500 job, after 7 years, you only have 317K and must work at least a few more years before you can retire. Yes, the upside is higher on the 2500 job, but if your goal is to get to retirement, the 200K job might be better.

You're also going to have a much more comfortable decade of preparation for retirement spending 40-50K per year and saving 150K.

The 200K option isn't that bad, unless you want to retire super rich.

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You're overrating the 200K. After taxes and living expenses you could not retire after 7 years.

[TheBlueMonster]

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or are we assuming you must give up those savings and objects to take this job?

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yup

[NT!]

depends on what happens if i quit the job. do i have to work only this job until i retire? do i have to work until normal retirement age (since it's 'the rest of my life')?

what about those of us who have live in womenfolk or wives?

[Homer]

If I could just move in with my parents and/or live off of savings for the first 5-6 years, then $2500 is obviously an easy choice. However, if this is some sort of theoretical question in which that is the only money I get and can get no help from anyone or use other cash, then I would take $200k/yr.