Being a software dev is only ever going to bring in a certain ceiling of lifestyle, with the exception of winning the lotto in a startup. Outside of luck how does one reach the next level affording a penthouse in NYC? Surely there has to be a way to reinvest your 200-500k annual salary to elevate yourself beyond index funds.
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There’s not. Sorry to disappoint. If there was a formula to safely invest a 200-500k salary to get a penthouse in NYC everyone would own one. More than a million people make >500k / year. The only way to elevate the lifestyle is to win the lotto which can happen a few ways: - rich parents - win the actual lotto - startups - executive titles from project lotto - general luck - investing luck
It's not clear that people who take the risks with large payouts actually fare better on average. Survivorship bias. NYC penthouse is luck. But to bust through the wage earner ceiling, I'd say a little bit of nepotism and sociopathy help.
To get filthy rich you need equity in something early that grows big
marry an orthopedic surgeon Neurosurgery – $773,201. Thoracic surgery – $684,663. Orthopedic surgery – $633,620. Plastic surgery – $556,698. Vascular surgery – $552,313. Oral and maxillofacial – $545,471. Radiation oncology – $544,313. Cardiology – $537,777.
People in tech make more. And less debt
You have to take risks, most Blinders are extremely risk averse.
Most humans are risk adverse Fixed
Piggybacking off of this, there are plenty of people who made less than 100k a year and weren’t afraid of losing some money in calculated risks. Those same people are now “retired” with passive income streams that take care of their monthly expenses. Most people are so afraid of losing a little bit of money that they miss out on making a lot of money.