How do people here build net worth so quickly?
I see people here saying they have a met worth of 300k+ after 3/4 years of working. How is this possible? Could people in this category share their compensation and savings over the years?
be weary of these figures. People adding relo, 401k match, hsa, free food and beverage, flights to meetings, free laptop, what they could make if they worked weekends moonlighting, and fx effects of their home country.
He said net worth not TC
Oh, left out the Nw multiplier. TC x 12
My wife also works and we got lucky because the company she works for went public this year (combined NW is 430k with ~2 YOE, will be around 450k in Jan when some of my RSUs vest)
Join eToro and trade like Steve is how ppl get rich
Save money, then invest it. I buy houses. Note: Do not buy houses in the Bay.
Where do you buy houses?
Second
I have a nw of 500k after about 6 years without actively penny pinching, but that's primarily from company hopping and stock. Some of my friends have a lot more and it makes me feel bad, but then I remind myself that it's fine because it's still a lot.
I’ve saved 600k in 4 years with no penny pinching and ordinary performance at my company. I spend ~45k a year and invest the rest. My fiancé is a high performer so he’s been able to save more. There’s no magic about it. Just save and invest.
Just don’t buy useless shit. Also d yourself a favor and don’t trade derivatives, you’re not that smart just because you made a lot of money quickly because you’re gonna lose it even faster Source: me
Max 401k, HSA, etc. Forget about your stock grants and put them into savings. Put your bonus into your 401k and forget it exists. That should put you close to 100k of savings.
Seems like a net worth of ~300k after working 5 years isn't that hard to achieve given the recent circumstances. Let us count the ways: 1) Tech stocks have performed well, so good for employee equity grants and ESPP. 2) Generally investing in public markets has paid off handsomely for past decade, so 401k plans should be doing well. 3)Most FANG companies have great matching also. 4) If you bought real estate the appreciation in tech cities has been substantial. 5) Dual income plus starting out with some savings or family money helps too.
Make 150k, save 75k a year, without even investing a penny you save 300k
Very few people with less than 2 YOE are making 150k after taxes. 150k = ~110k
I was referring to before taxes. Even with a 30% tax rate you’d be left with 105k. Live off 30k and save 75k