New Grad trying to be a half-millionaire to millionaire between 25-28 years old

Dec 6, 2020 25 Comments

Hey software engineers and/or investors,

It would be incredible if I could get an understanding on how you became financially free or a half-millionaire or millionaire in savings/assets?

MY EDUCATION:
In 3 years, I’ll be graduating (at 21 years old) with my BS in Computer Science at a large EAST coast school with an okayish CS Program.

MY NETWORTH + FUTURE INCOME:
Ive been working fulltime during school and Ill have ~$25k in savings (~18k in student loans) and about a $40k credit limit. I recently received a fulltime offer of about $115k TC (91k base) in Los Angeles. The company is a fintech company.

I plan to save about $40-$50k per year since my housing + utilities would only be $1000/month. I already have a car that’s paid for(LA insurance + gas will be $200/month).

YOUR ADVICE + MY INTERESTS:#investments #personalfinance
What would be some logical strategies towards investing/building wealth/making more money?

These are my interests and I would be open to some of these:

1) Real Estate

2) Day Trade or do stocks

3) Continue Improving Coding skills to get into a hedge fund/unicorn/ or maybe FANG as SWE II after a few years

4) Become a real estate agent on the side

5) Work a contract software engineering job on the side

7) Start my own restaurant

8) Start a tech business

9) Become an actor (Ive always been interested in acting and I took acting courses in college and performed very well).

10) Start a Youtube Channel and receive ad revenue

Let me know of some ways I can potentially make more money with the extra free time I have now that I’ll be done with school.

#softwareengineer
#softwareengineersalary
#money
#investments
#financialtimes
#retirement
#compensation
#personalfinance
#investments

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TOP 25 Comments
  • Amazon
    Jassy Andy

    Go to company page Amazon

    Jassy Andy
    Try Sugar Babying. Easy way to earn some side income and have fun doing it!
    Dec 6, 2020 5
  • Google / Eng
    jdgs72

    Go to company page Google Eng

    jdgs72
    Invest in stocks long term. Don't day trade or try to time the market. Make sensible investments in companies you believe in. Diversify. Learn about long term capital gains. Only take out money for good reasons like, you decide to retire and take out money for living expenses or want to put a down payment on a modest house.

    You can invest in houses. Check out roofstock for inspiration.

    Do not start a restaurant. Starting any business is hard.

    Acting is not a good ROI. Do it if you enjoy it.

    Keep an little as you can in savings. Your money should be feeding your investments.

    If you join a startup, understand the offer and what can happen. Here are some terms to learn: stock option, strike price, dilution, exercise, early exercise, 83b, RSU, acquisition, down round, accredited investor, angel investor, VC, IPO. Consider joining a new startup every 2-3 years after options or RSUs vest. If a company is giving options, make sure the strike price is at a level that you can exercise immediately. File that 83b correctly.

    Hot pre-IPO and pubic companies are better than startups because startups fail.
    Dec 6, 2020 1
    • I love this! THIS IS SO HELPFUL.

      I’ll be considering other side hustles.... maybe photography (that’s my strongest passion). I like it more than Computer Science lol.

      But gosh, the part that says, “ If a company is giving options, make sure the **stock** price is at a level that you can exercise immediately. File that 83b correctly” seems kinda complicated.

      And Roofstock HAS BEAUTIFUL HOMES FOR INVESTMENTS. THANKS FOR THIS.
      Dec 6, 2020
  • leetcode
    Dec 6, 2020 0
  • Amazon
    AWS-Engr

    Go to company page Amazon

    AWS-Engr
    Make an app, throw ads on there, watch the money flow.
    Dec 6, 2020 5
  • Stripe
    jhonsycv

    Go to company page Stripe

    jhonsycv
    Getting into FAANG is the simplest way tbh.
    Dec 6, 2020 2
    • Amazon
      AWS-Engr

      Go to company page Amazon

      AWS-Engr
      I'd say Facebook or Google if you want to achieve OP's goal. Faang really only works out of stock growth is continuous.
      Dec 6, 2020
    • Stripe
      jhonsycv

      Go to company page Stripe

      jhonsycv
      Based on the past, you wouldn't even need FAANG. Twitter, Snapchat, Splunk, Tableau, Slack would probably get you a million in 4-5 years.
      Dec 6, 2020