Anecdotally:

I makes less than 100K usd per year. I have a wife (who also makes less than 100K), a car, a kid, and hobbies. I don’t live in the valley, or even the United States. I work 8 hour days, employed by somebody else.

I should be a millionaire by my mid thirties unless the stock market explodes. I don’t think I’m all that frugal, but we do try to save more than we make and live within our means.

I do recognize that I’m extremely fortunate - I have not suffered any significant setbacks in my life, my health is relatively good, and I have a good family structure, all of which have been immeasurably helpful.

I was skeptical, so I ran some numbers here: https://www.investor.gov/financial-tools-calculators/calcula...

Assuming 150k USD combined income and 20% savings rate:

- Initial Investment: $30k (20% of 150k)

- Monthly Contribution: $2500 (1/12 of $30k)

- Length of Time in Years: 15 years

- Estimated Interest Rate: 10% (Avg Stock Market return)

- Interest Rate Variance Range: 0

- Compound Frequency: Annually

After 15 years you have just over $1M. I'm assuming you were including your wife's income because otherwise it's nowhere near.

I think the takeaway here is: get a partner. Without a partner you need to be a high earner.

Two people earning $50K is better than one earning $100K by a wide margin

Huh? Why? In what way?

If you're talking about taxes, I don't think this is true at all (Social Security taxes phase out much faster for a single earner than for two).

Until you have to cover childcare so you can both work.