How to get rich as a software engineer

DoorDash UAkD66
Aug 3 38 Comments

Many (especially young folks) engineers want to know how to become wealthy. They think that increasing TC is how to get rich - but that’s not the only formula. A plumber can actually end up with more wealth than an engineer.

In order to become rich, you need to do three things: Avoid debt, Get a high TC job, and Earn money while you sleep (passive income).

A plumber that makes $50k a year but saves $30k is more wealthy (long term) than an engineer making $100k but saving $10k.

I made this video for folks that are interested in this subject. Keep in mind that it’s a long video (~30 min) so be sure to grab your popcorn before watching it.

https://www.youtube.com/watch?v=0ScITp-jW-s

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TOP 38 Comments
  • Google / Eng LevelZ
    I think the single biggest and predictable way to get rich is this:
    Delayed Gratification

    If you have it, you will become rich. All other behaviors will come from that single trait:
    - Work hard
    - Invest for long term
    - Take risks
    Aug 3 2
    • Oracle / Eng I@M
      Take risks how?
      Aug 3
    • Amazon i9ju7u
      Tsla $420 12/27 calls
      Aug 3
  • Indeed indood
    You hade to make a 30 minute video titled “3 things that make software engineers rich?” I could answer this question in one word. LeetCode.

    Lol jk. Good job!
    Aug 3 0
  • This comment was deleted by original commenter.

    • Amazon Yfer6>
      How, give insight?
      Aug 3
    • Oracle / Eng I@M
      How?
      Aug 3
  • Intuit LowestTC
    Did you follow your own advice? If yes, how rich are you?
    Aug 3 9
    • DoorDash UAkD66
      OP
      Buy lands in remote area in India
      Aug 3
    • NASA qKln23
      How much does rural land bring in from India a month? Like $30?
      Aug 4
    • I guess he hopes for appreciation rather than cash flow, given the remote area in India.
      Aug 4
    • Oracle / Eng I@M
      Remote area does mean rural india
      Obv he will wait for appreciation to make profit
      Aug 4
    • DoorDash UAkD66
      OP
      The trick is to buy massive lands in rural areas that are very close to the big cities. Then you wait for a few years for the value to appreciate. If you choose the right location (and have family friends that can help you look out for the land), it will pay you very well.

      But for most people, buying a piece of a growing business (ie stocks) is much more convenient. It will save them a lot of time and energy.
      Aug 4
  • Google emc2too
    What if the game is not about saving the most but it is spending the most and getting the most experience out of it? Basically if we keep saving and then die, what good is it?
    Aug 4 3
    • DoorDash UAkD66
      OP
      I talked to over 150 older people (50+) and all of them told me that one of the biggest regrets was not saving enough when they were younger.

      You don’t have to be stingy about everything - but most people make poor decisions that they could have avoided and saved money.
      Aug 4
    • Google emc2too
      But you did not have a chance to talk to the dead to hear their regrets.
      Aug 4
    • Verizon HelloMoon1
      The OP said how to, doesn’t mean it’s right for everyone.

      If spending it all is what you choose to do, who is to say that’s wrong?

      What is wrong, though, is expecting someone else’s dollars to cover you once you are no longer in the workforce, due to over spending.
      Aug 5
  • Twitter
    Oomnj

    Twitter

    BIO
    It’s all shitposts and jokes - get a sense of humor!
    Oomnjmore
    Nah you gotta buy high and sell low 🤦‍♂️
    Aug 3 3
    • Amazon / Eng nutboy39
      Time in the market beats timing the market.
      Aug 3
    • Amazon i9ju7u
      Watch me time the market and reap these tendies
      Aug 3
    • Amazon / Eng nutboy39
      Enjoy your losses
      Aug 4
  • OmegaFi jorquart
    Tldw?
    Aug 3 1
  • Verizon HelloMoon1
    Hate to break it to you. But even a single plumber in a van will dwarf 50k.
    Aug 3 0
  • Google emc2too
    You ship a product that pays you for decades. Passive income.
    Aug 3 2
    • DoorDash UAkD66
      OP
      Or you buy a piece of a business (ie stocks) that produces great products and hold it for a long time.
      Aug 3
    • Google emc2too
      The business will have a price that is already high though. But yes it is an option especially if held long time. In 2-3 decades a yearly dividend can be more than the original price paid for it.
      Aug 4
  • Shutterfly tnPx47
    I watched only a few minutes and already have at least 2 questions.
    Why the heck you tip 25% with CC? Why not do 15%?
    What if you need to drive to Arco station? You drive for a cheap gas, using the gas in you tank(and you paid for that gas too) Doesn’t make sense
    Aug 4 1
    • DoorDash UAkD66
      OP
      Hey these were just a few examples to illustrate how people spend money based on behavior and not proper calculations. Research shows that people spend 30-60% more on average when they use credit cards.
      Aug 4
  • This comment was deleted by original commenter.

    • DoorDash UAkD66
      OP
      Considering that my identity is revealed here, I don’t feel comfortable disclosing it. But if it makes you happy, it’s much more than $100k
      Aug 3
  • Why are you at DoorDash with that funny money, op? Get that real TC
    Aug 3 1
    • DoorDash UAkD66
      OP
      Why is it funny money? I’d much rather work at a (relatively) smaller, rapidly growing company than a bigger public company.

      Imagine joining Dropbox 5 or 6 years ago :)
      Aug 3
  • Oracle OlJs40
    Waiting for Oprah to call me and ask to be my sugar mommy.
    Aug 4 0
  • Long video, but I liked it. +1 to the author.
    Aug 4 0
  • GoDaddy Ti374j
    You need to HODL more
    Aug 3 0