Millionaire by 30

Bloomberg / Eng
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Bloomberg Eng

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Jun 2 54 Comments

Every story I hear about this was one of
1. Inheritance
2. Being extraordinarily lucky (e.g. have a ton of Bitcoin in 2017, Cofounder of company that got acquired).

What's your secret? Sure, not budgeting and will prevent you from meeting that goal but won't help you hit it.

Reason for asking: It seems that ever 25 year old around me is already a millionaire.

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TOP 54 Comments
  • Twitter finetody
    FANGT at 22. Millionaire easy by 30.
    Jun 2 2
    • Bloomberg / Eng
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      Bloomberg Eng

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      OP
      Are you counting appreciation ?
      Jun 2
    • Twitter finetody
      In what? No.
      Jun 2
  • HPE / R&D
    Ingenieur

    HPE R&D

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    Ingenieurmore
    Why do you want to be a millionaire by 30?
    Jun 2 4
    • Reliance Industries soninishan
      Why do you want to earn money
      Jun 2
    • Amazon yWwy48
      Easily the most stupid question ever on Blind. And that is saying something.
      Jun 2
    • Twitter finetody
      @amzn actually your response is really stupid. HPE is going for the deeper meaning of life question. He is far above you in all ways.
      Jun 2
    • Amazon yWwy48
      Hahaha...deeper meaning in life :) thats what we discuss on blind right.
      Jun 2
  • You can’t really become a 25-year-old millionaire without your parents’ money, at least in tech.

    Even working for FAANG during stock hypergrowth can’t have given you that much.

    The only exception is if you have a successful app or startup — and there are very, *very* few 25-year-olds that have successful startups.

    Personally, I had no parental money. Property investments in Bay Area + startups + FANG.
    Jun 2 8
    • DigitalOcean bisou
      Just some perspective on an alternative route (also more than a few of my friends are retired 25 year old millionaires 😛 from a non-household name IPO)
      Jun 2
    • New / Other
      Reigen

      New Other

      BIO
      4 years teaching cs looking for first real swe job.
      Reigenmore
      @digitalocean can't think of too many companies that went from small startup to ipo in 3-5 years. Care to give some examples?
      Jun 2
    • DigitalOcean bisou
      Not necessarily joining a small start up - my point was you can join a small to mid-sized company (with under or grounded valuations) poised for an IPO, and make much more than FAANG comp.
      Jun 2
    • Bloomberg / Eng
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      Bloomberg Eng

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      OP
      It's to hear about the great successes and more power to them. You don't hear about the average company that exited for 50M, giving the founders a few million and the employees a few tens of thousands, not to mention the time value of money. 1M payout may sound good but not when it takes 10 years to realize and St great risk.
      Jun 2
    • DigitalOcean bisou
      Who said anything about ten years? Most of these people made their money as employees and worked in the window of 3 years
      Jun 2
  • New / Product xzUE84
    Investment banking 2 years, PE 5 years. Easy 1 mil plus coinvestments
    Jun 2 3
    • Bloomberg / Eng
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      OP
      Ok but that path is limited to well-connected and/or lucky few
      Jun 2
    • New / Product xzUE84
      Not in the same ballpark as bitcoin? Most of my friends from college are in the same networth range. Didnt go to an IVY.
      Jun 2
    • Twitch / Data select *
      I'm not sure about that. I think takes a bit longer and its definitely not easy given you're working 110 hours a week for the 10 years
      Jun 2
  • Amazon SoNex
    No risk no millions :)
    Jun 2 0
  • LinkedIn Gumbo123
    I joined LinkedIn in 2015 as a new grad and my net worth is just short of a million dollars right now.
    Jun 2 9
    • LinkedIn Gumbo123
      $904,361.05 to be precise

      I basically don’t spend any money at all
      Jun 2
    • Bloomberg / Eng
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      Bloomberg Eng

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      OP
      How much did you graduate with?
      Jun 2
    • Twitch / Data select *
      How did you get that high of a tc? Implies like 500k per year income if you factor in taxes eating away half of that
      Jun 2
    • LinkedIn Gumbo123
      Bloomberg - $15k or so
      Jun 3
    • LinkedIn Gumbo123
      Right now yes I’m around $450k
      Got it by working super fucking hard
      Jun 3
  • Facebook bdfunbff
    Lots of people do it joining startups pre ipo. Lots of millionaires below the age of 30 in Facebook, Twitter, Airbnb, Lyft, Uber etc.
    Jun 2 2
    • Bloomberg / Eng
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      Bloomberg Eng

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      OP
      Yeah but it's like winning the lottery to choose the right one
      Jun 2
    • Facebook bdfunbff
      Not really like winning the lottery. A few years before the IPO it was pretty clear these companies were doing well and had huge growth. Also, it wasn’t too hard to spot these early since a lot of FB/G engineers moved to these companies early on.
      Jun 3
  • Monster unholy!
    Haha OP dismisses or ignores the the privilege that allows one to be 1M at 30. It's not all "luck." That's what they want you to believe.
    Jun 2 1
    • Google / Eng QrJx75
      Agree, OP sounds like he/she has a fixed mindset
      Jun 10
  • Riot Games / Eng
    Whsitnd

    Riot Games Eng

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    Microsoft
    Whsitndmore
    I did it, no parental money, just got into the housing market after the crash and rode the wave, plus got into Microsoft out of university.
    Jun 2 0
  • New / Other
    DuQvV7y

    New Other

    BIO
    Did stuff. Hustled hard. Retired
    DuQvV7ymore
    Details here from an AMA from someone who hustled to over 1m at 30 and retired at 43 (non-FANG).

    His only inheritance was a congenital heart defect.

    https://us.teamblind.com/s/jNKKtXVa
    Jun 2 3
    • Amazon govndbs
      In your AMA, you stated you had $900k at age 36. How come you stated 1m at age 30 here...?
      Jun 4
    • New / Other
      DuQvV7y

      New Other

      BIO
      Did stuff. Hustled hard. Retired
      DuQvV7ymore
      Lol. Networth growth is not a straight line.

      Further down the thread notes when I hit 1m. The line you referenced even notes why I dipped below (that tiny 2008 recession).

      Cheers
      Jun 4
    • Amazon govndbs
      Thanks for the explanation!
      Jun 4
  • Facebook public2
    1m is very little, any high value job can put that together in 4 or 5 years.
    Jun 2 2
    • For senior roles sure. But not entry or mid-level. Even if your average TC is 400k for each of those 5 years (which is a LOT for entry and mid level), your take-home is 200k, and after COL you’re down to saving maybe 150k/year, and that’s scrimping by.
      Jun 2
    • Facebook public2
      That's why I said high value job (eg tech or finance) where even new grads with little to no experience make more than 200.
      Jun 2
  • Amazon bruce80
    The key to remember is that the same strategy that gets to $1M doesn't necessarily work to get to $10M. In tech, anybody can get lucky (Bitcoin, IPO) which will deliver $1M. $10M takes skill and multiple wins.
    Jun 2 1
    • Google / Eng QrJx75
      Or... Time
      Jun 10
  • Google come2daddy
    You have clubbed owning Bitcoin and Successfully selling a startup in same bracket. Whatever news gossip tells you, building a successful startup which can be sold with million dollar payout to founders is not only luck.
    Jun 2 1
    • Bloomberg / Eng
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      Bloomberg Eng

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      OP
      Luck is a necessary but not sufficient condition
      Jun 2
  • LinkedIn stuffy🐷
    1M is not that much...
    Jun 2 1
    • Uber djib46gd
      Foul you you lucky badly
      Jun 2
  • Uber djib46gd
    Zuckerberg was 30 BILLOOK bu 30. Try beating that
    Jun 2 0
  • Unity / Eng Chckn&Beer
    No need for FANG, Juul for 4 year millionaire path, or Pax now
    Jun 2 0
  • Reliance Industries soninishan
    Can you please give some more highlight on this path
    Jun 2 0