Just started working for Apple (with real TC), how to boost up net worth fast?

Apple
ggfsdty

Go to company page Apple

ggfsdty
Apr 30 14 Comments

Been working for 9 years before Apple and due to low income, my net worth is only around 200k -250k.

Apple pays me 290k TC - including stock refreshers. Are RSU and refreshers the game changer for net worth increase? My RSU is only like 40k a year.

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 TOP 14 Comments
  • Apple
    stonksdown

    Go to company page Apple

    stonksdown
    Never sell AAPL and your NW will automatically go up. (Not financial advice)
    Apr 30 1
  • @everyone commenting here to not sell AAPL: I completely get the long term value of holding AAPL, but for those of you in California how do you afford to buy a house? Is it ok to maybe sell your first+second year stock grants for down payment of your first home here? Otherwise it will take ages if you just want to save with base alone. So i guess my question is if holding AAPL a better long term financial decision or buying a house instead. My thinking is that AAPL will always go up and if my performance is ok I will always be able to get more refreshers but I’m afraid that I may never be able to afford a house in Cali
    Apr 30 3
    • Wife and I are starting to grow our family so need more rooms/backyard. We were thinking of buying a place last year but decided to wait, the same place is now 300k more and interest rates have also doubled so it certainly feels like we are being priced out and can never afford! Paying $3500+ a month also seems like throwing money out
      Apr 30
    • You do realize you still have to pay property taxes and interest?
      There is no way housing is a good investment right now with how high interest is and the impending recession with already high prices, chances you will make money if you sell are pretty low.

      The whole needing more rooms and a backyard with children is a thing I ll never understand, probably because I’m not american enough.
      Apr 30
  • There's no secret. If you want o increase net worth there's 3 levers to play with:
    A) Find ways to increase tc
    B) Find way to reduce expenses (Inc. taxes)
    C) invest wisely
    Looks like your tc is ok, focus on B now. C becomes more relevant once you have saved more money.
    Apr 30 4
    • Recurring expenses can add up crazy fast and easily outweigh your trips in how badly it's hitting your ability to save. Check your monthly outlay for cable/streaming, if you have a big cable plan and a few streaming services, you might be paying hundreds a month for stuff you barely use.
      Apr 30
    • GoDaddy / Eng
      GoMommy

      Go to company page GoDaddy Eng

       GoMommy
      Can look into credit card churning to subsidize flight and hotel costs with your high spend. Each card sign up bonus can equate to basically a free round trip ticket
      Apr 30
  • Apple
    JnYcv81

    Go to company page Apple

    JnYcv81
    You already have the wrong mentality if you’re trying to get rich quick. Building NW is a lifetime grind. Occasionally you get lucky, like most AAPL employees getting paid in stock that’s gone up several X in only a few years.
    Apr 30 0
  • Salesforce / Eng
    ohana-mama

    Go to company page Salesforce Eng

    BIO
    260k
     ohana-mama
    Whats the breakdown like? Invest percentage of your monthly in ETFs and forget about it for years
    Apr 30 0