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.
Investment banking 2 years, PE 5 years. Easy 1 mil plus coinvestments
Ok but that path is limited to well-connected and/or lucky few
Not in the same ballpark as bitcoin? Most of my friends from college are in the same networth range. Didnt go to an IVY.
Can you please give some more highlight on this path
Why do you want to be a millionaire by 30?
Why do you want to earn money
Easily the most stupid question ever on Blind. And that is saying something.
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.
Early employee at a pre IPO company will get you close too. Lots of my former colleagues are worth at least a million just from stock appreciation the last place I worked at. Stock also flew after IPO so that helped. I find that to be a risk mitigated approach to getting close to that money. Look at companies like PagerDuty, Slack, Fastly, and Okta. There’s a great opportunity to make gobs of money in between very small start ups and FAANG
That’s true. However, there’s more risk involved; if they give you more stock than FAANG, it probably means IPO is further away. In today’s climate there’s a lot more risk than a few years back, with all the trade and recession issues. Case in point: Uber.
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.
Lots of people do it joining startups pre ipo. Lots of millionaires below the age of 30 in Facebook, Twitter, Airbnb, Lyft, Uber etc.
Yeah but it's like winning the lottery to choose the right one
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.
No need for FANG, Juul for 4 year millionaire path, or Pax now
No risk no millions :)
Zuckerberg was 30 BILLOOK bu 30. Try beating that
FANGT at 22. Millionaire easy by 30.
Are you counting appreciation ?
In what? No.