On financial independence

To achieve financial independence, a state in which one’s asset generates more interest than one’s expense, it is generally assumed that one has to save early and save big, due to the power of compounding. This depends on one critical assumption, that the rolling return over 30 years remains largely the same regardless of the entry point in a 30 year period. Although accurate prediction of future returns is difficult to perform, computer simulations could be more easily applied to past data to confirm the assumption.

Data TBD by Miaomiao. 

Personal Goals:

  • Control monthly expense under 5k.
  • Based on this expense and the 4% rule, 1.5 M is needed to achieve perpetual financial freedom.
  • Achieve financial independence by age 40.
  • Save 71k per year after year, plus 401(k).

Skills to be developed by MM:

  • Trading/investment skills
  • General machine learning

Skills to be developed by TT:

  • Deep learning
  • Computer vision
  • Skills that is not employer specific, such as software development skills, apps development, English skills, speech skills.
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On financial independence

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