If 10 million is the new 1 million, how are any of us gunna make it?

Northrop Grumman HowCouldYu
May 6 59 Comments

Like what the hell? I’d say blind accounts for some of the 1% in terms of high salary earners (not necessarily CEO’s or billionaires). But even the highest earner on here at Google isn’t making 1mil a year (maybe he/she is); but the overwhelming majority of us aren’t... how tf is my generation (millennials) going to buy a house or make ends meet? I know the answer is work until I die, but isn’t that sad?

How can I get to 10mil

comments

Want to comment? LOG IN or SIGN UP
TOP 59 Comments
  • You can buy a house if you earn just 200k and are wise with spending habits.

    Yes, a house in the Bay Area. You can make “ends meet” just fine.

    But yeah, then you hear people making 400k and sending both kids off to private school, after school tutoring, have a full time nanny, international vacations twice a year, a BMW and a Tesla, and and and....

    Then they complain about not affording anything in the Bay Area. Well, *sure*.
    May 6 0
  • Facebook
    Bdudhrysb

    Facebook

    PRE
    Microsoft
    Bdudhrysbmore
    Early 30s, 10 years in the industry with an average annual TC of 130-140k. Current net worth, 2.4 mil. First mil was the hardest then the snowball effect takes hold.

    It’s totally possible to get to 10 mil before 60 if that’s what you really want.
    May 6 18
    • Accenture / Data __asdf
      good stuff! i'd like to have my first rental property so i'm saving up for that. btw, where are all these 3 properties? and what percentage did you put as down on each of them?
      May 6
    • Facebook
      Bdudhrysb

      Facebook

      PRE
      Microsoft
      Bdudhrysbmore
      The two cheaper ones are in a small college town, it’s all I could afford. The third is my home in Seattle.

      One of the properties has had the same tenant the whole time, nearly 7 years. It rents a bit below market rate, haven’t upped the rent in a while because I like the tenant and don’t want them to leave. Despite my efforts I haven’t had the same success with the other.
      May 6
    • Facebook
      Bdudhrysb

      Facebook

      PRE
      Microsoft
      Bdudhrysbmore
      Probably wouldn’t buy in a small college town again :) beyond that I don’t know where to go with the next place, Seattle market looks promising with MSFT and AMZN growth, as well as transport and infra spending. It’s really bad for diversification though, to have my job and my investments highly correlated. Maybe Denver? Really dunno.
      May 6
    • Facebook
      Bdudhrysb

      Facebook

      PRE
      Microsoft
      Bdudhrysbmore
      Put down 20% on each. Kept some cash in stocks and have rebalanced to pay them off ahead of schedule.
      May 6
    • Accenture / Data __asdf
      i have a buddy that lives in austin, he now has 3 duplex. one of those he is living in and rents out the other half. that's total of 5units rented out at about 1.2K/month. the two duplexes he bought just this year at 300K each. the one he lives in he got it long time ago when he was still single. when his two kids grow up he can sell one of the duplex to pay off their college. his also a frugal guy and dumps all savings to 401, roth, espp. then whatever he saves becomes a downpayment for another property. he plans to have 20 units and eventually retire from tech
      May 7
  • Microsoft / Eng
    MgIr74

    Microsoft Eng

    PRE
    Amazon
    MgIr74more
    10 million net worth? Frugality, index funds, and lots of job hopping.
    May 6 2
    • LinkedIn / Finance ZerotoIPO
      Add in the power of leverage in a rising housing market
      May 6
    • Juniper Pliny Jr
      The market doesn't appreciate meaningfully enough before resetting itself 10 years backwards with only the Banksters manipulatingly profiting.
      May 7
  • Oscar 🐨koala
    If you make 200k for the rest of your life, 1M house is nothing.
    May 6 12
    • Oscar 🐨koala
      The best 💤
      May 6
    • Northrop Grumman HowCouldYu
      OP
      @2muchblind ha well I am 26 so you’re not too far off the mark. I agree with these choices but sometimes I just wanna go do the side hustle/own company thing. Idk I just get fed up seeing management in the office be so dumb
      May 6
    • Yup, my words exactly at 26, lol.

      You should do a side hustle thing to see what it’s like. Initially keep your day job for the sense of stability (unless you have enough saved up).

      You have time to experiment. The learning will be good. It’s now or, like, 25 years from now.

      Me? I’m happy for what I did during my 20s but am perfectly happy now working for a big company for 600+.
      May 6
    • Northrop Grumman HowCouldYu
      OP
      @2muchblind any words of wisdom for someone in your shoes at 26? I feel like life it’s this giant puzzle and everyone started with most of the puzzle complete (i.e. they had family money) and the rest of us are just expected to never quite solve it. It’s so frustrating man. I am trying to move to FAANG, but I don’t think it’s going to calm my ambition. I am energetic, personable, more salesman-y than your average engineer, and I want it all. I feel like management and YoE and working for someone else are just these road blocks in life... idk... if you wanna DM I would be more than happy to listen and take some advice because i wrestle with these thoughts everyday. I should just pursue a side gig
      May 6
    • 👍 DM’d
      May 7
  • Autodesk igglybuff
    Add value to your company + job hop every 2-3 years.

    Marry an ambitious significant other.

    Save and invest in Real estate + index funds.

    I see no reason why you can’t get to $10M in 20 years on Bay Area comp and career trajectory.
    May 6 0
  • Apple Dr.Dre
    Take your 1 million and move to Thai or Vietnam, your buying power becomes $$10 - $20 millions instantly. Problem solved 😜
    May 6 2
    • Northrop Grumman HowCouldYu
      OP
      I feel like that’s not true anymore for Thailand, it’s cheaper than America but not bye as much as it used to be
      May 7
    • Microsoft / Eng Stack🖕flo
      Definitely true for Thailand, you just need to leave bkk
      May 8
  • Microsoft tfsUEwWt
    get into FAANG. marry someone who is in FAANG.
    May 6 2
    • Getting into FAANG at this time cannot lead to 10m in any reasonable time. Getting into the next FAANG could. (Of course, not Uber)
      May 6
    • Facebook
      Bdudhrysb

      Facebook

      PRE
      Microsoft
      Bdudhrysbmore
      60k saving a year for 30 years at 10% (market average) is 11 million.
      May 6
  • Microsoft gfba68
    10 mil isn't the new 1 mil. With inflation, maybe 2.5 mil at MOST. 10 mil is possible in your 50s in tech, but I'll probably stop when I get to 5
    May 6 0
  • Microsoft tfsUEwWt
    stop spending $1000 on a phone
    May 6 1
    • Ericsson / Eng rawr🙈🙉
      God damn this one triggered me as someone who wants to buy the new iPhone in September 😂😂
      May 7
  • Fannie Mae
    :3

    Fannie Mae

    BIO
    .
    :3more
    The problem with Blind is that everyone sees other people in the rat race and they feel like they have to do it themselves. The problem is people start thinking that's a great substitute for happiness. Sure money helps you be able to afford nice things but at some point you have to realize that everything is all good enough. People making more than you are just think they're mentally doing better.
    May 7 0
  • Google / Eng unusedname
    Why do we need 10 million ? People can always move and live happily in the most part of US with 1 mil
    May 7 4
    • 1m? How
      May 7
    • Microsoft gfba68
      The median household income is only a little higher than you could expect to get from $1mm. Those people manage it, why can't You? There are many areas where $40k is plenty.
      May 7
    • Dude, I mean how to be happy with only 1m, micro soft
      May 7
    • Microsoft gfba68
      like I said, ask one of the tens of millions of people who manage it on much less
      May 7
  • dave ramsey
    May 7 0
  • Google coolguy00
    invest in Bitcoin, it's your only chance! highest earner at G makes a ton more than a mil.

    just because your parents owned a house doesn't mean you have to own one too. there's overpopulation, etc.

    you seem depressed tonight Northrop.
    May 6 1
    • Northrop Grumman HowCouldYu
      OP
      I’m always depressed lol
      May 7
  • Google / Eng unusedname
    Rat race
    May 10 0
  • Microsoft / Eng Stack🖕flo
    25 mil is the new minimum for success. 10 isnt shit. Need at least 500 tc and investing, should be pretty easy to hit.
    May 8 0
  • Salesforce kdt2bn3s
    Why 10 mil? Most houses are cheaper. What level of spending are you targeting?
    May 7 0
  • Autodesk igglybuff
    Or just invest in le bitcoin 😉
    May 6 0