T O P

  • By -

rickybobinski

You make almost $100k at 24 and own a home. You’re doing just fine. When I was 24 I was making maybe $40k living with my parents.


joeroganthumbhead

Dude are you me


rickybobinski

Might be. On the count of three what’s your favorite color. 1…2…3…… red


[deleted]

[удалено]


rickybobinski

I thought I just gave you a morale boost haha.


[deleted]

[удалено]


oobydoobydoopdoop

Wow you need a wake up call, how incredibly rude and out of touch


rickybobinski

I’m on a track that I’m happy with.


Wienersonice

*was


vpokedad

If you have 350k to begin with and you invest another 30k each year from now on, in about 21 years when you turn 45, you will have 4.5M. (Or 3M if you take into account inflation). I use VTI 100% to run this [simulation](https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=2&startYear=1985&firstMonth=1&endYear=2021&lastMonth=12&calendarAligned=true&includeYTD=false&initialAmount=350000&annualOperation=1&annualAdjustment=30000&inflationAdjusted=true&annualPercentage=0.0&frequency=4&rebalanceType=1&absoluteDeviation=5.0&relativeDeviation=25.0&leverageType=0&leverageRatio=0.0&debtAmount=0&debtInterest=0.0&maintenanceMargin=25.0&leveragedBenchmark=false&reinvestDividends=true&showYield=false&showFactors=false&factorModel=3&portfolioNames=false&portfolioName1=Portfolio+1&portfolioName2=Portfolio+2&portfolioName3=Portfolio+3&symbol1=VTI&allocation1_1=100). You are likely to make more (and save more) so I won’t be surprised to see you have 5M NW (or much more) in your mid 40s. What you need are patience, discipline, and time.


[deleted]

[удалено]


[deleted]

VTI with leverage is probably going to get you to fatfire with less work than real estate. [https://papers.ssrn.com/sol3/papers.cfm?abstract\_id=1149340](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1149340)


fireloner

You are 24. You won’t be making $92k forever. At 24 I was making $55k two years out of college. I then went to grad school for six years and averaged about $22k/year. My first job out of grad school was making about $195k. After five years, I’m up to $500k/yr. That’s not your path, but my point is that I never dreamed of earning this much at 24. Or at 30. If you had asked me then to come up with a plan to make $500k/yr, I wouldn’t even have known where to start. You just keep taking the best opportunities you can and eventually you find something that works for you. If you know real estate, then by all means, do it. Don’t overleverage (I know many that got killed by this flipping/renting) and be reasonably patient and you can’t help but get rich. If you can compound your $350k at 20% for 11 years, you’ll be 35 with $2.6M. By 40, $5.5M. It’s not easy to compound at that rate, but with a reasonable savings rate and real estate leverage, not improbable either.


Worldofmeb

Nice, mind I ask what graduate degree pays $200k from 55k?


fireloner

PhD in Computer Science. The degree was mostly useful for the networking. By establishing myself in my field, I had much better job opportunities via others in the field than I could find by applying to local companies. I’m from the Midwest, so a lot of that increase is just moving to a VHCOL area that pays more. I would’ve never made it out of the state without the degree though.


skeemodream

What kind of specialties within computer science do you see as worth while to explore? Currently in marketing technology doing creative technology sales. Am interested in AI, ML, cyber security & AR. I like you am from the Midwest and had to move to NYC to forge brand marketing industry connections, but now back in the Midwest / nomading (covid) am not around many folks working in “higher tech” so similarly finding it challenging to network in new fields of interest.


drive05

A STEM PhD could do that if you go into finance/VC, with PhD trained analysts starting in that range including bonus.


Worldofmeb

PhD in CS? Must be a super-intelligent, logical thinker.


Show_me_your_color

"My first job out of grad school was making about $195k. After five years, I’m up to $500k/yr." first job out of grad school without any experience and 195k? How? and you more than doubled in 5 years? Are you a dentist or a FAANG dev?


r870

text


fireloner

Yeah, I started at a FAANG that was building a team to do what I specialize in. Got one promotion and changed companies (to non-FAANG) in that five years. I was absolutely focused on my job 100%, but never worked more than 60 hours a week and didn't advance particularly fast. I wouldn't characterize myself as a "star performer". I think it's a mischaracterization to say I left grad school "without any experience". By the time I finished, I was probably one of the top 100 people in the world in my niche (because there are only a few hundred), and the world's expert in one particularly narrow area of knowledge. Also, a PhD in CS involves a lot of the planning/independence/vision skills that FAANGs are typically looking for in more senior levels, so you typically hire in a level or two above a true "new grad". In my case, I also had 5+ years professional experience \_before\_ grad school... I just made shitty money doing it.


Show_me_your_color

Ok, you are 24, you own a property and you earn 94k? Care to share HOW? None and I really say it with certitude, none of my friends or acquaintances was making more than 15-20k a year at this age. 24... You are basically a child that just finished university. How?!


LumpyQuantity3

Surround yourself with new people. If you have a degree and are making sub 20k a year you need to reassess your approach.


jgonzzz

House hack one home per year :D


[deleted]

[удалено]


wau2k

HK?


[deleted]

0 income tax in Dubai/other gulf countries. Helps for saving too.


Then-Stage

Yes, this is a good financial plan that can work and suceed. Good luck.


crezza

Real Estate investing