increasing net worth
hey guys, im 27 and want to increase my net worth to around 250k by age 30. this is my current spread roughly: 60k cash 72k in stocks 20k in 401k 6k in roth ira which totals to a little over 155k net worth. no student loans or debt. im a consultant so im svaing a ton of money on daily expenses by living off per diem. i increased my 401k contribution to 10% and also contribute 10% into the company stock program which will match 40% until 6000/yr what more can i do to make more money? im leetcoding and will start a masters in comp sci to make a career change into SWE. TC: 105k
Get a new job that pays more
I’m targeting to leave SAP by January when my RSUs fully vest
So you have $155K and save ~$3K/month and want to have $250K in three years? Sounds like you’ll definitely make it so long as you don’t get negative returns on your assets.
Do a dual prong approach of increase income (new job, side hustle) and decrease expenses Only put enough in your 401k to get a match. No point putting more in (unless you like the idea of locking up your money until you're 59.5)
What side hustles can you recommend?
What area you in?
Philadelphia
See if your company supports internal career switches. You don't need a MSCS to get a SWE job
How much is your spending/savings rate?
I don’t know about exact rates but I use my Thursday per diem to buy groceries to last me the weekend. And I cut out alcohol entirely. Broke up with gf so wallet is feeling heavier again If I had to guess I’d say I’m saving around 2.8k a month
2.8k per month is excellent saving. Are you not in bay area?