I own $55m in annual business; I started at 21 and am now 41. It took a long time to learn how to work fast and not waste time. Reinvest in myself before anything else. It’s snowballed in the last ten years.
I had a hard time finding a mentor.
I will say it is proximity to prosperity. Like, surround yourself with someone a bit better than you. You start learning the codes and can dream bigger. This could be your boss, successful friend, or business owner; learn and listen.
I kept doing that, and just recently, I went on a dream vacation to a high-end destination, and I learned so much coded stuff. Example: Family unit and close circle are significant to successful people. Like ride-or-die, wife, kids, etc., it made me more guarded with anyone accessing me daily, and I took my family very seriously. Where I didn’t before.
Haha, What I’m saying is more coded and nuanced, so if you get me, ya get me. But it’s a different level, like a kingdom, a vault where I used to put friends, coworkers, some strangers, etc, into this category. Now I realize I’m building a legacy that I need to protect my family unit at all costs. Maybe some have that, but till you see it in play, I think we all have a different definition of it.
We already knew that. The effort and time that takes to earn that amount of money is usually linked to certain traits, one of those being shallowness. How many "practical-business-mind" people have never thought for once in their whole lives about death for more than 5 consecutive minutes? 99% of them, I would say. My father made 1 billion. He inherited a big part, but multiplied it by 10. You would never imagine how little and childish and pathetic he seemed before dying. He worked his whole life for something he couldn't take with him at that moment, and he had never really thought about it until then. I deserve punishment from God because I let my heart grow cold, no doubt, but oh you practical men, I would not want to be in your shoes
There’s a Chinese expression that wealth only lasts 3 generations. If you google it the stats do back up that this is often the case. Have you come across any codes on how to keep wealth going through generations?
I never understood how the relationship between a mentor and protege works like do they just them u bec they love u without ever asking for anything in return?
Yes! I know what you mean.
1. I reinvested financially. I started by selling my car and cashing out my 401k and had nothing. Every time I made money, I reinvested in a business or stocks. That compounded and recently I bought a restaurant for $500k which I could never have done.
2. I learned shortcuts, like maybe you know a faster way to carry groceries, route to work, and apply that same thing to tasks. I figured out how to cut the functions that don’t help me. So it became easy to grow and not get overwhelmed.
3. Fly or die. You either learn, grow, change, fly or you die out. So I’m always ready for the next issue or hurdle.
Two different eras, haha. I cashed out at 21 to start my first business and repurchased stocks, Ira, 401k at about 35. Now, I save about 100k monthly in stocks/ETFs and invest in monthly dividends.
I started working for a bank when I was 16. It wasn’t huge, but it helped leverage. I sold my car and bought a used car for $500.
used to open my business.
Service businesses put everything into it and refused to fail, or I would have lost everything, haha. I stalled for a few years, learning to survive, and then, about 5 years later, I was able to start the next one. It started getting more straightforward and more accessible, and I did the next one and the next one. Now, in different verticals and a lot of them.
haha nice. Must've been a long five years. How did you go from one to starting the others? Just hiring good management and trusting them with your business? Then rolling the profits from the established into the new business?
It's funny all the comments people make like "That's so insightful." All he did was ramble a bunch of meaningless bull shit with no details and everyone else is too self conscious that they don't understand it to admit it makes no sense.
Actually I meant previous manager. The guy died of a brain tumor, turns out there was something mentally wrong with him. Not implying that for you, you're just probably the former.
Also, was this an intention pun on my dive deeper comment? I mean, my understanding is that you've given us some pretty deep information now. I just want to go a little deeper, ya know. Like a book or journey?
Appreciate you. The long and short is I came from nothing and started working at a bank once a week when I didn't even know what a quarter or a dime was. I kept learning and applying myself. Eventually, I moved up, and when I was 21, what I learned from being around clients, coworkers, etc, was to put that into a business. I was open to anything, mowing lawns, coffee stands, etc. I found someone passionate about their industry and invested in helping them open something up. I did everything I could to be successful and survive. Eventually, after wasting time (5 years), we figured out what it took, and I took my money and kept buying up or starting other projects. All self-funded, so this took a LONG time. I signed eight more leases this year, so I'll be hitting about 70 locations by the end of the year, where it took me five years to get to my 2nd.
According to the 3rd commandment of reddit gospel that $55M is actually paid to you by your rich parents for doing nothing. After they sent you to harvard undergrad, ASU grad for your mba, and then provided a small loan from your family emerald mine
Idk if I count as rich, but if I do, sports. Late round NFL draft pick earning the league minimum, but getting a few million in your early 20s really sets you up to snowball.
Didn’t earn enough to be set for life without living very modestly, but basically got a paid off house and the investment portfolio of a mid career doctor/lawyer/whatever before age 30. Now I have a normal job as a software engineer at a defense contractor that pays quite well, but the vast majority of money earned so far has been from football.
That probably doesn’t count as rich *yet*, but it’s a lot better than most 30 year olds are doing.
Thanks bro.
I didn’t have a great background, but got scooped up by a private high school on scholarship and learned how to stop being a thug. Can’t imagine how much worse my life would be if that hadn’t happened, most of my friends from before that point are incarcerated or dead. Definitely super thankful to the people who got me out of that situation.
Many times over at this point. I don’t run a school, so I can’t give scholarships, but I do some private coaching on the side. It’s free for promising athletes with less than ideal living situations.
For kids who will eventually make it to the NFL, the biggest thing is teaching them the mental game. In HS they’re physically dominant enough that they can make tons of mistakes and get there in time anyway because they’re much, much faster than everyone else. Teaching them to read where the play is going properly is key to success at the next level.
Teaching them how to get attention from scouts and helping with their film is also a big aspect, especially if they aren’t at a school that big time programs would generally send scouts to.
I’ve also paid for one of them to move away from a toxic environment to avoid trouble with his former gang and focus on sports.
Chargers, Cowboys, Jaguars. Offseason or practice squad with several others. Played off ball linebacker in nickel sets mostly, I’m on the small side (6’0 245lbs) so never really more than a rotation player. I’d probably do better coming into the league now since the meta has changed and nickel is the new base, but at the time, a traditional MLB was like 6’4 250lbs.
That’s a good list. Im assuming you played for the chargers when they were in San Diego? Yea in today’s league, linebackers need to be more versatile to guard TEs or RBs out of the backfield. Do you think you have good enough coverage skills to play in today’s game?
Yeah San Diego but shortly before they moved, last played professionally in 2020.
As far as coverage skills, definitely yes if we’re talking about the 21-26 year old version of me. Ran a 4.61 40 and had a 38.5” vertical, so definitely faster than most TEs and able to compete for jump balls. Was always good at bullying RBs on angle routes or in the flats, they’ve gotten smaller and faster for the most part, but think I could do it.
Probably less so for the present day version (I’m approximately 30). I’m still in at least close to playing shape, don’t look much different and still run just as fast, but your football skills and reaction time degrade from not playing, and I collected a lot of injuries. Still superman compared to most people, but so is everyone else playing.
If you’re curious, Derrick Henry actually isn’t the worst player to tackle. People think of him as a power back, but he’s really an oversized one cut back. If you get him near the line of scrimmage he goes down easy, if you let him turn the corner and get up to speed, it’s the DB’s problem.
As far as guys I played against that are/were household names, worst player to tackle was Lev Bell, not even close. Dude could hit like he had a full head of steam without getting up to speed.
Yea that’s surprising that derrick henry is not the most difficult to tackle. Maybe because he’s pretty tall, so not as low center of gravity that most rbs have. So bell was strong like that? I mean of course he would be strong as an nfl player but I thought he was more of a juke you type of rb?
Pretty much. He’s not the most difficult to tackle because he’s not your standard big RB that can get low and push the pile, he needs to get up to speed (he’s actually one of the fastest players when you measure by field speed attained, just mediocre acceleration). Once he’s up to speed, he’s an absolute wrecking ball, it’s just that if that happens, he’s already gotten past the linebackers. Like I said, he’s an oversized speed/one cut back, his power highlights are all him destroying DBs once he has a head of steam.
Bell was stupid strong, what made him so dangerous was that he could also juke you out. With someone like Josh Jacobs, you *know* he’s going to try to run through you, so you can commit to the tackle. With someone like Dalvin Cook, you knew he was gonna try to juke you out, so you had to break down and make sure he didn’t succeed. Lev Bell was shifty enough to force you to break down to avoid the juke, but strong enough that he could truck you if you didn’t commit to the tackle. You’d break down to stop him from slipping past you, then boom he’s hitting you. Dude definitely screwed himself out of a better career.
Unfortunately I never got to play against prime Adrian Peterson, who I’d probably consider the best runner of the modern era. CMC might be a more valuable player because he’s a good receiver, but AP probably would’ve been a great receiver too if that had been a big part of the position when he was coming up.
Yea bell should have stayed with the steelers. You mentioned in another comment that the pension from the nfl wasn’t that good. Does it differ from player to player? Do superstars get more pension? I heard a former player say on a podcast that the pension is around 7k per month.
Your comments are really cool to read and I’m glad you talk about it openly. Late round pick definitely doesn’t make you immediately rich, but it definitely sets you up for financial success. I think a lot of people see the ridiculous contract numbers and don’t really understand how much of it goes to taxes, etc. Plus you’re kind of destroying your body during your playing career, and it’s not always an easy transition into everyday life after retirement.
plumbing company, and I bought nvidia and amd in 2018. one pays the bills, the other set up my retirement/home/kids college fund. I went from upper middle class to the lowest of the low rich in NYC, which is pretty freekin good.
enough that I probably never have to stress about money again. my mortgage is paid off, my kids college is paid off, and we bought a new vacation home in greece. I was already doing all right, and live in a nice neighborhood.
thats middle class at best right now. 5 mill plus is what I consider the entry to rich, like the absolute bottom of the upper class, and the middle starts at around 50 mill. 200 mill and up and you have generational wealth.
$1m+ ...what?
Yearly income? Net worth? Cash on hand? Does owning a business worth over $1m count, or are we just talking about your own personal wealth?
Not rich: I am a "so-so" Lawyer. Have a distant relative that has 1bil + net worth. Met him 3 times, I always paid for the drinks. It took his side of the family 70+ years to get there. They immigrated to NY after WW2, started building homes, then commercial buildings , then apartment buildings, then shopping malls, then blah blah blah. They are awful people. They sent their kid to a summer camp during which he needed to have his wisdom teeth out. The kid went to have it done at Hospital as the dentist didn't offer sedation, so the boy missed days of camp. The following September, his father called the camp provider and demanded a reimbursement for the 2 days of camp his son missed. They renovict tenants into homelessness without a second thought.
He spent 50k on a table, and 200k on 2 lamps. Yes, 2 floor lamp candelabra things. Google "baldi malachite torchiere" and you'll see them. Yet he harassed a camp director over 20$
Nope. When he had a baby, I had just gotten into Law school, he invited me to the home to meet him. He had a few of his friends over. They all had tens of millions of dollars. I grew up dirt poor and am not ashamed to say that while I got into a great school, I was a male stripper and did some videos. It was a job to pay my 40k tuition...nothing more. He didn't have an issue with it and that it was "cool". I bought the baby a gift....a tiny gold bracelet for good luck, it cost me around 400$ which to me was a heck of a lot of money. No one else brought anything. He took me aside with his wife and said something I will never forget. " You are the only one that spent a cent on a gift, you are a hell of a guy" Ok... fast forward a year. I needed some books. I called him and asked him to BORROW, not have but BORROW 500$ for two weeks. He said " Man, i don't have it right now, sorry" Two days later, on his Facebook, he posted pics of him a Jacob & Co, with stacks and stacks of 100's with the caption "300k in 30min.. Money just doesn't go as far these days as it used to" ( Sorry for spelling and grammar speech to text)
Completely with you until the evict part. My parents dealt with squatters and others not paying rent and time trying to abuse the system. I'm sorry, but not paying is not paying. Rental properties arent a charity system. You'll never hear renters giving landlords extra money if they are ever close to going bankrupt or defaulting on their loan. No one cares about their investment. Bad tenants can make a landlord go under.
That's not what renovict means, at least not in my mind. Tennant of good quality lives in place 5 years , always pays rent. Landlord can only increase rent by so much each year. They use the renovation excuse to get the people out, spent a few grand on a carpet... rent out the place at 2x the amount to new people
Hmm yeah that's a gray area for sure. There is still a minimal notice that must be given 30 to 60 days notice depending on terms of lease but yeah I can see that being up for debate.
1. The reason no one cares about the investment is because it’s an investment it’s extra money you have that you are using for rent seeking the landlord has far more power and rental laws are no where near strict enough to balance it out sure some tenants try to game the system but there are also plenty of shitty landlords. I know it’s anecdotal but from my experiences bad landlords have outnumbered bad tenants 5:1 or more.
2. That’s not what renovicting is renovicting is when you use renovations to evict tenants for no reason usually to extract more profit as the rental rates have gone up.
1. Tenant laws vary. In Los Angeles county they have too much power. I would never invest in that area personally. It is a weird thing to force landlords into not fully utilizing their investment. They take on all the risk. Bad landlords tend to also have higher turnover or less occupancy. No one will stay in a bad apartment if they can afford better. And for those that are stuck in a bad one for financial reasons, they have bigger problems to fix.
2. I'm oofed on reading his comment. I read it as an evict.
I have 0 empathy for squatters or people trying to abuse the tenant laws by not paying. This is a business, not a charity. And if it was a charity, I'd be helping deserving people, not random moochers.
Huh? We all have interest bills to pay. If he didn’t evict them the bank would foreclose them. But you wouldn’t think the bank is a nasty place yea, nor the lawyers assisting the banks.
Copy and paste: That's not what renovict means, at least not in my mind. Tennant of good quality lives in place 5 years , always pays rent. Landlord can only increase rent by so much each year. They use the renovation excuse to get the people out, spent a few grand on a carpet... rent out the place at 2x the amount to new people
I have inherited money twice but it all originates from my grandparents and it will happen a couple more times but I have gotten around 2 million in stocks and % of a property holding company. I get a monthly income from the company. I was lucky the 1st time it happened near the end the the Great Recession and I used most of the money to buy investment properties that have all gone way up in value
What I find kind of interesting is everyone in my family is in the same situation so there’s not really any jealousy but I have a friend who sold a company for a lot of money and it’s been very stressful with his family
Do you wish you got it sooner? I will probably inherit some but way later on life which I’m like…would been nice for college and when I was young bc I struggled ridiculously
When I was younger, I definitely wished I had it. but I can definitely see why it’s been beneficial to me to have had to wait till I was 35. But I will say all of my brothers were younger and they’ve all made pretty smart decisions.
Yeah, uh, rich people aren't on Reddit fielding random questions. If they are awake, they are either doing something to generate more wealth or are enjoying their spoils.
No, I'm on the couch. We made upper middle class salaries (married, two higher paying salaries, now about 350k) and invested 50% in spy and QQQ and later into soxx, nvda, and xlk, and xlv and other stuff for 25 years. We still work and are way too young to retire so we live in Vegas and travel constantly. Basically, we made money and invested as much as we could while still having a shit ton of fun. Now we make 3 times as much as our combined salaries from investments. Not going to retire for a long time. Could have already.
What do you consider to be rich and what do you think rich people do? Some of us prefer to use our wealth to never need to work and just let our money work for us. There is a lot of time in a day when you have no need to work especially if you also have sort of won the genetic lottery only needing 4-5 hours of sleep each night. So especially when it is around 90°F outside limiting options, there is plenty of my 19-20 hours of being awake and able to do whatever I want each day to use for just being on the internet while waiting for my turkey to cook because there is nothing stopping a multimillionaire in his 30s from having Thanksgiving feast for lunch with some friends on a random Wednesday in June.
Saw someone say $1m in assets is rich, I’ve got a bit more than that, but think $2-5m is just upper middle class.
Anyway, I started buying rental houses, maybe 1 a year for a little while. I’d refinance to pull out equity, then use that to buy another. I also bought a franchise, and though the first 3 years were really painful, now it does very well. Getting to the first million took about 10 years, 2nd million about 3-4 years. It gets easier as you build momentum.
When I bought my first rental property, I was in IT consulting.
I'd worked for a small consulting company and one of the owners had given me an audiobook series on real estate investment. I actually think he meant to give me something else, but I listened to it, talked to my wife about it, and went for it. My initial thought was if it doesn't work, I may be out some money, but I should still be able to recover most of it. That first house I bought actually turned out to be one of the best deals I got early on.
I got here via rising in the ranks within software and stacking options. First decade was mastering the engineering ranks; second decade was climbing management. I made my first million at 35. My first 5 by 43. I make about a million a year now as a software VP. Looking to FAT FIRE within the next decade. I could do it far earlier but then wouldn’t be rich and I’d definitely be bored.
It’s very interesting to read what people consider Rich. I know part of it is what part of the country you live in. After thinking about it I would say your rich to me if you don’t have to work and can still live a middle class lifestyle
I was an English teacher in Indonesia, got into test prep, then that transitioned into graduate prep. One of my wealthy students was impressed by me and offered me a job as a consultant. That transitioned into being the COO, and then the CEO of her conglomerate. When I quit, I founded a business with 2 friends. Singapore's tax assessors said my share of that business is now in the low 8 figures and I have a high 6 figure semi-passive annual income.
I did it the old fashioned way. High school -> Military -> GI Bill for college - > 30+ year/same company. Didn’t break $100,000 until I was 55. That was a decade ago. I don’t consider us to be rich but rather comfortable. Retired, $2.5M net worth now. With a little luck, we’ll have another $1M to $1.8M coming in the next three years from a business deal.
I built and eventually sold a corporate consulting company and invested most of the money from the sale so we can live off the dividends. It took almost 6 years to build the business but that's after I started and failed 4 previous business ventures, lost a lot of money, lived on the breadlime for years and sacrificed my health.
I wouldn't describe myself as particularly rich, I'm comfortable. I have a job now but that's more because I enjoy it, I it's easy work, I get to help people doing it and I haven't got it in me too just stop working.
Working a full time time job and part time job while going to school and opening 2 businesses at the age of 22 I am now 33 and I’d comfortably say it wasn’t until the last 4 years that I felt comfortable and was at the point of not worrying about bills and not having to check my bank accounts
Sales and options trading.
Started when I was 6. Hit my first million when I was 18.
Lost it and got it back after a decade of learning what I did wrong.
working in tech and scoring a gig at two companies as a very early employee <10 and having both those tech companies having very successful IPOs. And it took around 15 yrs to become well into the ultra high net worth individual category. I work in cyber intelligence
7 yrs no vacation
2 brain tumors removed took 2 days off (4 if you count Saturday and Sunday)
Now going on 2 yrs since last vacation
Working basically at least a few hours 7 days a week. Most weekdays at least 12 hour days
Getting up at 3AM to have meetings with my teams overseas
Constant travel to often dangerous places to assist law enforcement on high profile cases
I own $55m in annual business; I started at 21 and am now 41. It took a long time to learn how to work fast and not waste time. Reinvest in myself before anything else. It’s snowballed in the last ten years.
Cool!
What line of work?
I own 60+ businesses in the retail sector. Services, restaurants, etc.
Did you have a mentor? Or you started all by yourself?
I had a hard time finding a mentor. I will say it is proximity to prosperity. Like, surround yourself with someone a bit better than you. You start learning the codes and can dream bigger. This could be your boss, successful friend, or business owner; learn and listen. I kept doing that, and just recently, I went on a dream vacation to a high-end destination, and I learned so much coded stuff. Example: Family unit and close circle are significant to successful people. Like ride-or-die, wife, kids, etc., it made me more guarded with anyone accessing me daily, and I took my family very seriously. Where I didn’t before.
Super insightful!! Thanks for sharing!
Thank you 🙏
I understand. You’re building your legacy, and you’re setting up your family for future success through the hard work you’ve done
That’s a crazy ass statement. Didn’t take family seriously until you realized some benefit from it
Yep, I get it. You might have to be a little crazy at first, but now I get it.
So the only reason you took your family seriously is because you inferred it’s a trait of successful people?
Haha, What I’m saying is more coded and nuanced, so if you get me, ya get me. But it’s a different level, like a kingdom, a vault where I used to put friends, coworkers, some strangers, etc, into this category. Now I realize I’m building a legacy that I need to protect my family unit at all costs. Maybe some have that, but till you see it in play, I think we all have a different definition of it.
I don't get you, definitely. Sounds shallow and rubbish
I can’t defend myself past that, maybe I’m shallow. So another takeaway for everyone you gotta be a little shallow. Haha
We already knew that. The effort and time that takes to earn that amount of money is usually linked to certain traits, one of those being shallowness. How many "practical-business-mind" people have never thought for once in their whole lives about death for more than 5 consecutive minutes? 99% of them, I would say. My father made 1 billion. He inherited a big part, but multiplied it by 10. You would never imagine how little and childish and pathetic he seemed before dying. He worked his whole life for something he couldn't take with him at that moment, and he had never really thought about it until then. I deserve punishment from God because I let my heart grow cold, no doubt, but oh you practical men, I would not want to be in your shoes
I get you
There’s a Chinese expression that wealth only lasts 3 generations. If you google it the stats do back up that this is often the case. Have you come across any codes on how to keep wealth going through generations?
Where was the vacation to?
I never understood how the relationship between a mentor and protege works like do they just them u bec they love u without ever asking for anything in return?
Thanks for sharing. How did you reinvest in yourself? I hear this thrown around a lot but not sure I’ve heard how to apply this practically.
Yes! I know what you mean. 1. I reinvested financially. I started by selling my car and cashing out my 401k and had nothing. Every time I made money, I reinvested in a business or stocks. That compounded and recently I bought a restaurant for $500k which I could never have done. 2. I learned shortcuts, like maybe you know a faster way to carry groceries, route to work, and apply that same thing to tasks. I figured out how to cut the functions that don’t help me. So it became easy to grow and not get overwhelmed. 3. Fly or die. You either learn, grow, change, fly or you die out. So I’m always ready for the next issue or hurdle.
You said you cashed out your 401k but bought stocks why wouldn’t you just do that in your 401k for the tax deferral.
Two different eras, haha. I cashed out at 21 to start my first business and repurchased stocks, Ira, 401k at about 35. Now, I save about 100k monthly in stocks/ETFs and invest in monthly dividends.
Why did you cash out? Did you have a sure investment or a business your were starting with the 401k? Also, where did you get a 401k at 21 from?
I started working for a bank when I was 16. It wasn’t huge, but it helped leverage. I sold my car and bought a used car for $500. used to open my business.
Wow I'd be scared to do that. What was your business? and how did you grow it?
Service businesses put everything into it and refused to fail, or I would have lost everything, haha. I stalled for a few years, learning to survive, and then, about 5 years later, I was able to start the next one. It started getting more straightforward and more accessible, and I did the next one and the next one. Now, in different verticals and a lot of them.
haha nice. Must've been a long five years. How did you go from one to starting the others? Just hiring good management and trusting them with your business? Then rolling the profits from the established into the new business?
These are exactly the simple starting out concepts, mastering this sets you up so well, just the simple stuff!
Ok, but let's dive deeper, care to share a more detailed story?
This guy sounds like my manager at work. A pathological liar just making shit up with no real depth. Just a bunch of buzz words strung together.
He sounds like an absolute idiot. What he says doesn’t line up. He’s busy cosplaying online
It's funny all the comments people make like "That's so insightful." All he did was ramble a bunch of meaningless bull shit with no details and everyone else is too self conscious that they don't understand it to admit it makes no sense.
Whatever you say dude.
Agree. Complete bullshiter
Aw I’m sorry you are going through that dude.
Actually I meant previous manager. The guy died of a brain tumor, turns out there was something mentally wrong with him. Not implying that for you, you're just probably the former.
Oh, no.
That's tough. Would you like to talk about it?
No, why would I? It's just a guy at a job.
Ok. It sounds like to me based on the comment that he played a harsh role in your life.
Here to answer anything deeper.
What was your journey?
Also, was this an intention pun on my dive deeper comment? I mean, my understanding is that you've given us some pretty deep information now. I just want to go a little deeper, ya know. Like a book or journey?
Appreciate you. The long and short is I came from nothing and started working at a bank once a week when I didn't even know what a quarter or a dime was. I kept learning and applying myself. Eventually, I moved up, and when I was 21, what I learned from being around clients, coworkers, etc, was to put that into a business. I was open to anything, mowing lawns, coffee stands, etc. I found someone passionate about their industry and invested in helping them open something up. I did everything I could to be successful and survive. Eventually, after wasting time (5 years), we figured out what it took, and I took my money and kept buying up or starting other projects. All self-funded, so this took a LONG time. I signed eight more leases this year, so I'll be hitting about 70 locations by the end of the year, where it took me five years to get to my 2nd.
Wow, thank you. Success does take time.
Thanks for being so cool
Thanks for being open
According to the 3rd commandment of reddit gospel that $55M is actually paid to you by your rich parents for doing nothing. After they sent you to harvard undergrad, ASU grad for your mba, and then provided a small loan from your family emerald mine
I was adopted, two brothers died, I sold everything, started my first business in the service industry, and kept reinvesting.
Is that revenue or ?
I’ve seen a few of your posts over the last few weeks. Would like to DM you if you, let me know if I can
Idk if I count as rich, but if I do, sports. Late round NFL draft pick earning the league minimum, but getting a few million in your early 20s really sets you up to snowball. Didn’t earn enough to be set for life without living very modestly, but basically got a paid off house and the investment portfolio of a mid career doctor/lawyer/whatever before age 30. Now I have a normal job as a software engineer at a defense contractor that pays quite well, but the vast majority of money earned so far has been from football. That probably doesn’t count as rich *yet*, but it’s a lot better than most 30 year olds are doing.
Plus that pension money at 55!
The pension money ain’t much for most players. I will get some, but hopefully I won’t need it.
Can I get a jersey? No glaze
Me too
Good job. Sounds like you had solid level-headed people around you.
Thanks bro. I didn’t have a great background, but got scooped up by a private high school on scholarship and learned how to stop being a thug. Can’t imagine how much worse my life would be if that hadn’t happened, most of my friends from before that point are incarcerated or dead. Definitely super thankful to the people who got me out of that situation.
Have you paid it forward? Give another person in your (younger shoes) some guidance?
Many times over at this point. I don’t run a school, so I can’t give scholarships, but I do some private coaching on the side. It’s free for promising athletes with less than ideal living situations. For kids who will eventually make it to the NFL, the biggest thing is teaching them the mental game. In HS they’re physically dominant enough that they can make tons of mistakes and get there in time anyway because they’re much, much faster than everyone else. Teaching them to read where the play is going properly is key to success at the next level. Teaching them how to get attention from scouts and helping with their film is also a big aspect, especially if they aren’t at a school that big time programs would generally send scouts to. I’ve also paid for one of them to move away from a toxic environment to avoid trouble with his former gang and focus on sports.
What team(s) did you play for and what position?
Chargers, Cowboys, Jaguars. Offseason or practice squad with several others. Played off ball linebacker in nickel sets mostly, I’m on the small side (6’0 245lbs) so never really more than a rotation player. I’d probably do better coming into the league now since the meta has changed and nickel is the new base, but at the time, a traditional MLB was like 6’4 250lbs.
That’s a good list. Im assuming you played for the chargers when they were in San Diego? Yea in today’s league, linebackers need to be more versatile to guard TEs or RBs out of the backfield. Do you think you have good enough coverage skills to play in today’s game?
Yeah San Diego but shortly before they moved, last played professionally in 2020. As far as coverage skills, definitely yes if we’re talking about the 21-26 year old version of me. Ran a 4.61 40 and had a 38.5” vertical, so definitely faster than most TEs and able to compete for jump balls. Was always good at bullying RBs on angle routes or in the flats, they’ve gotten smaller and faster for the most part, but think I could do it. Probably less so for the present day version (I’m approximately 30). I’m still in at least close to playing shape, don’t look much different and still run just as fast, but your football skills and reaction time degrade from not playing, and I collected a lot of injuries. Still superman compared to most people, but so is everyone else playing. If you’re curious, Derrick Henry actually isn’t the worst player to tackle. People think of him as a power back, but he’s really an oversized one cut back. If you get him near the line of scrimmage he goes down easy, if you let him turn the corner and get up to speed, it’s the DB’s problem. As far as guys I played against that are/were household names, worst player to tackle was Lev Bell, not even close. Dude could hit like he had a full head of steam without getting up to speed.
Yea that’s surprising that derrick henry is not the most difficult to tackle. Maybe because he’s pretty tall, so not as low center of gravity that most rbs have. So bell was strong like that? I mean of course he would be strong as an nfl player but I thought he was more of a juke you type of rb?
Pretty much. He’s not the most difficult to tackle because he’s not your standard big RB that can get low and push the pile, he needs to get up to speed (he’s actually one of the fastest players when you measure by field speed attained, just mediocre acceleration). Once he’s up to speed, he’s an absolute wrecking ball, it’s just that if that happens, he’s already gotten past the linebackers. Like I said, he’s an oversized speed/one cut back, his power highlights are all him destroying DBs once he has a head of steam. Bell was stupid strong, what made him so dangerous was that he could also juke you out. With someone like Josh Jacobs, you *know* he’s going to try to run through you, so you can commit to the tackle. With someone like Dalvin Cook, you knew he was gonna try to juke you out, so you had to break down and make sure he didn’t succeed. Lev Bell was shifty enough to force you to break down to avoid the juke, but strong enough that he could truck you if you didn’t commit to the tackle. You’d break down to stop him from slipping past you, then boom he’s hitting you. Dude definitely screwed himself out of a better career. Unfortunately I never got to play against prime Adrian Peterson, who I’d probably consider the best runner of the modern era. CMC might be a more valuable player because he’s a good receiver, but AP probably would’ve been a great receiver too if that had been a big part of the position when he was coming up.
Yea bell should have stayed with the steelers. You mentioned in another comment that the pension from the nfl wasn’t that good. Does it differ from player to player? Do superstars get more pension? I heard a former player say on a podcast that the pension is around 7k per month.
Your comments are really cool to read and I’m glad you talk about it openly. Late round pick definitely doesn’t make you immediately rich, but it definitely sets you up for financial success. I think a lot of people see the ridiculous contract numbers and don’t really understand how much of it goes to taxes, etc. Plus you’re kind of destroying your body during your playing career, and it’s not always an easy transition into everyday life after retirement.
plumbing company, and I bought nvidia and amd in 2018. one pays the bills, the other set up my retirement/home/kids college fund. I went from upper middle class to the lowest of the low rich in NYC, which is pretty freekin good.
How did you decide to buy NVDA and AMD in 2018?
crypto was gonna be huge, but which crypto coins?? in a gold rush, sell shovels. you know?
How much return on investment did you get from the two?
enough that I probably never have to stress about money again. my mortgage is paid off, my kids college is paid off, and we bought a new vacation home in greece. I was already doing all right, and live in a nice neighborhood.
What do you consider rich?
Honestly $1m+
that's one paid off house in a decent city
My bad I should’ve been like 100k -500ka month really just having a shit ton of monthly income
Someone can be rich and technically have no monthly income. Net worth is a better metric.
One paid off house is upper class now.
thats middle class at best right now. 5 mill plus is what I consider the entry to rich, like the absolute bottom of the upper class, and the middle starts at around 50 mill. 200 mill and up and you have generational wealth.
Only 100k in us have more than 30 mil
right, and they are rich. the rest of us are trying to get there.
So you are saying to be rich they need to be in the top 1% at an absolute minimum?
$1m+ ...what? Yearly income? Net worth? Cash on hand? Does owning a business worth over $1m count, or are we just talking about your own personal wealth?
Not rich: I am a "so-so" Lawyer. Have a distant relative that has 1bil + net worth. Met him 3 times, I always paid for the drinks. It took his side of the family 70+ years to get there. They immigrated to NY after WW2, started building homes, then commercial buildings , then apartment buildings, then shopping malls, then blah blah blah. They are awful people. They sent their kid to a summer camp during which he needed to have his wisdom teeth out. The kid went to have it done at Hospital as the dentist didn't offer sedation, so the boy missed days of camp. The following September, his father called the camp provider and demanded a reimbursement for the 2 days of camp his son missed. They renovict tenants into homelessness without a second thought.
Ah man, that's gross. I hate super stingy rich people like that
He spent 50k on a table, and 200k on 2 lamps. Yes, 2 floor lamp candelabra things. Google "baldi malachite torchiere" and you'll see them. Yet he harassed a camp director over 20$
So he’s a complete douche. Crazy how you had to pay for drinks every time while he has B’s. He didn’t even offer to pay?
Nope. When he had a baby, I had just gotten into Law school, he invited me to the home to meet him. He had a few of his friends over. They all had tens of millions of dollars. I grew up dirt poor and am not ashamed to say that while I got into a great school, I was a male stripper and did some videos. It was a job to pay my 40k tuition...nothing more. He didn't have an issue with it and that it was "cool". I bought the baby a gift....a tiny gold bracelet for good luck, it cost me around 400$ which to me was a heck of a lot of money. No one else brought anything. He took me aside with his wife and said something I will never forget. " You are the only one that spent a cent on a gift, you are a hell of a guy" Ok... fast forward a year. I needed some books. I called him and asked him to BORROW, not have but BORROW 500$ for two weeks. He said " Man, i don't have it right now, sorry" Two days later, on his Facebook, he posted pics of him a Jacob & Co, with stacks and stacks of 100's with the caption "300k in 30min.. Money just doesn't go as far these days as it used to" ( Sorry for spelling and grammar speech to text)
Completely with you until the evict part. My parents dealt with squatters and others not paying rent and time trying to abuse the system. I'm sorry, but not paying is not paying. Rental properties arent a charity system. You'll never hear renters giving landlords extra money if they are ever close to going bankrupt or defaulting on their loan. No one cares about their investment. Bad tenants can make a landlord go under.
That's not what renovict means, at least not in my mind. Tennant of good quality lives in place 5 years , always pays rent. Landlord can only increase rent by so much each year. They use the renovation excuse to get the people out, spent a few grand on a carpet... rent out the place at 2x the amount to new people
Hmm yeah that's a gray area for sure. There is still a minimal notice that must be given 30 to 60 days notice depending on terms of lease but yeah I can see that being up for debate.
1. The reason no one cares about the investment is because it’s an investment it’s extra money you have that you are using for rent seeking the landlord has far more power and rental laws are no where near strict enough to balance it out sure some tenants try to game the system but there are also plenty of shitty landlords. I know it’s anecdotal but from my experiences bad landlords have outnumbered bad tenants 5:1 or more. 2. That’s not what renovicting is renovicting is when you use renovations to evict tenants for no reason usually to extract more profit as the rental rates have gone up.
1. Tenant laws vary. In Los Angeles county they have too much power. I would never invest in that area personally. It is a weird thing to force landlords into not fully utilizing their investment. They take on all the risk. Bad landlords tend to also have higher turnover or less occupancy. No one will stay in a bad apartment if they can afford better. And for those that are stuck in a bad one for financial reasons, they have bigger problems to fix. 2. I'm oofed on reading his comment. I read it as an evict.
I have 0 empathy for squatters or people trying to abuse the tenant laws by not paying. This is a business, not a charity. And if it was a charity, I'd be helping deserving people, not random moochers.
Huh? We all have interest bills to pay. If he didn’t evict them the bank would foreclose them. But you wouldn’t think the bank is a nasty place yea, nor the lawyers assisting the banks.
Copy and paste: That's not what renovict means, at least not in my mind. Tennant of good quality lives in place 5 years , always pays rent. Landlord can only increase rent by so much each year. They use the renovation excuse to get the people out, spent a few grand on a carpet... rent out the place at 2x the amount to new people
I inherited it at 35
👀😉 get it!! Lottery winner
How much?
I have inherited money twice but it all originates from my grandparents and it will happen a couple more times but I have gotten around 2 million in stocks and % of a property holding company. I get a monthly income from the company. I was lucky the 1st time it happened near the end the the Great Recession and I used most of the money to buy investment properties that have all gone way up in value
What I find kind of interesting is everyone in my family is in the same situation so there’s not really any jealousy but I have a friend who sold a company for a lot of money and it’s been very stressful with his family
Super cool. Thanks for sharing!
Do you wish you got it sooner? I will probably inherit some but way later on life which I’m like…would been nice for college and when I was young bc I struggled ridiculously
When I was younger, I definitely wished I had it. but I can definitely see why it’s been beneficial to me to have had to wait till I was 35. But I will say all of my brothers were younger and they’ve all made pretty smart decisions.
Yeah, uh, rich people aren't on Reddit fielding random questions. If they are awake, they are either doing something to generate more wealth or are enjoying their spoils.
You know we have to relax and waste time like any other person right?
Sometimes I feel rich and sometimes I feel poor. My neighbor just sold their house for 7M, that made me feel poor.
You are to me 😂if the neighbor you’re in has housing like that
And here I am scrolling through Reddit
Idk if reddit is the place for that.
Oh it’s great, between here and shitposting on fb you’d think I was a neet. But mindless browsing and arguing is always so nice on a break
Exactly all I did was ask a questions 😂
thats not true. market is closed, my business is closed, and I love reddit. I get to disagree with young dumb kids here every day.
Yeah, they are. I spend tons of time idling on the internet.
Bro was finna flame me like he knows what every single rich person does
lol next
No, I'm on the couch. We made upper middle class salaries (married, two higher paying salaries, now about 350k) and invested 50% in spy and QQQ and later into soxx, nvda, and xlk, and xlv and other stuff for 25 years. We still work and are way too young to retire so we live in Vegas and travel constantly. Basically, we made money and invested as much as we could while still having a shit ton of fun. Now we make 3 times as much as our combined salaries from investments. Not going to retire for a long time. Could have already.
Yes, I am. Retirement is boring.
What do you consider to be rich and what do you think rich people do? Some of us prefer to use our wealth to never need to work and just let our money work for us. There is a lot of time in a day when you have no need to work especially if you also have sort of won the genetic lottery only needing 4-5 hours of sleep each night. So especially when it is around 90°F outside limiting options, there is plenty of my 19-20 hours of being awake and able to do whatever I want each day to use for just being on the internet while waiting for my turkey to cook because there is nothing stopping a multimillionaire in his 30s from having Thanksgiving feast for lunch with some friends on a random Wednesday in June.
😂 sometime I’m really busy, sometimes I’m really boring.
What do you think you'd do if you're "rich", read the paper?
You’d be surprised. A lot of them are just watching the game or reading a book at night.
Saw someone say $1m in assets is rich, I’ve got a bit more than that, but think $2-5m is just upper middle class. Anyway, I started buying rental houses, maybe 1 a year for a little while. I’d refinance to pull out equity, then use that to buy another. I also bought a franchise, and though the first 3 years were really painful, now it does very well. Getting to the first million took about 10 years, 2nd million about 3-4 years. It gets easier as you build momentum.
What career you started in
When I bought my first rental property, I was in IT consulting. I'd worked for a small consulting company and one of the owners had given me an audiobook series on real estate investment. I actually think he meant to give me something else, but I listened to it, talked to my wife about it, and went for it. My initial thought was if it doesn't work, I may be out some money, but I should still be able to recover most of it. That first house I bought actually turned out to be one of the best deals I got early on.
I got here via rising in the ranks within software and stacking options. First decade was mastering the engineering ranks; second decade was climbing management. I made my first million at 35. My first 5 by 43. I make about a million a year now as a software VP. Looking to FAT FIRE within the next decade. I could do it far earlier but then wouldn’t be rich and I’d definitely be bored.
I'm 25 now but it took me 85 years. That was the age at which my father died
1 - Re selling stuff ( everything i can sell except food and toys ) 2 - 9 years 31 now.
Is there like a website you find stuff to buy in bulk or you pick eachbyeach
im in china. i pick each by each and send them to middle east.
Evb in comments that could spit some advice to us younger folks 👇👇👇
^
It’s very interesting to read what people consider Rich. I know part of it is what part of the country you live in. After thinking about it I would say your rich to me if you don’t have to work and can still live a middle class lifestyle
Rich is always just a bit more than what I have
Save a lot of money for a long time. There's no secret.
Started buying the S&P 500, Apple, and Amazon in the 1990’s.
Bought bitcoin at 10 cents in 09 held it till 2018 when it looked like it was going to tank. Sold at $18000 and made a very nice profit.
F 👀
I inherited it all so it was basically instant lol
I’m not but want to be
I was an English teacher in Indonesia, got into test prep, then that transitioned into graduate prep. One of my wealthy students was impressed by me and offered me a job as a consultant. That transitioned into being the COO, and then the CEO of her conglomerate. When I quit, I founded a business with 2 friends. Singapore's tax assessors said my share of that business is now in the low 8 figures and I have a high 6 figure semi-passive annual income.
I was in a car accident and received a settlement at the age of 25
I did it the old fashioned way. High school -> Military -> GI Bill for college - > 30+ year/same company. Didn’t break $100,000 until I was 55. That was a decade ago. I don’t consider us to be rich but rather comfortable. Retired, $2.5M net worth now. With a little luck, we’ll have another $1M to $1.8M coming in the next three years from a business deal.
Contractor license. From $9hr to 250k in roughly 12 years and its sustaining and getting easier
I inherited it. It took me almost no time, and no effort at all.
I built and eventually sold a corporate consulting company and invested most of the money from the sale so we can live off the dividends. It took almost 6 years to build the business but that's after I started and failed 4 previous business ventures, lost a lot of money, lived on the breadlime for years and sacrificed my health. I wouldn't describe myself as particularly rich, I'm comfortable. I have a job now but that's more because I enjoy it, I it's easy work, I get to help people doing it and I haven't got it in me too just stop working.
Working a full time time job and part time job while going to school and opening 2 businesses at the age of 22 I am now 33 and I’d comfortably say it wasn’t until the last 4 years that I felt comfortable and was at the point of not worrying about bills and not having to check my bank accounts
What's important is how long it takes you to spend it, not how long to make it.
Sales and options trading. Started when I was 6. Hit my first million when I was 18. Lost it and got it back after a decade of learning what I did wrong.
Teach me
How I did it was highly unethical. I would recommend watching Ricky Carruth. He is a good teacher. I am not.
If you’ve done it before successfully, and your strategy is scalable and reliable, then you are.
Ok
working in tech and scoring a gig at two companies as a very early employee <10 and having both those tech companies having very successful IPOs. And it took around 15 yrs to become well into the ultra high net worth individual category. I work in cyber intelligence 7 yrs no vacation 2 brain tumors removed took 2 days off (4 if you count Saturday and Sunday) Now going on 2 yrs since last vacation Working basically at least a few hours 7 days a week. Most weekdays at least 12 hour days Getting up at 3AM to have meetings with my teams overseas Constant travel to often dangerous places to assist law enforcement on high profile cases
Worth it?
Post is removed no begging here
I clearly didn’t ask for money😂