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