Reached 1M Goal
As Tesla peaked yesterday, my net worth briefly hit the coveted 1M mark. I never imagined I would reach this level at this stage of my life. People say the first million is the hardest, and the subsequent millions are a bit easier. I hope that is true. Unlike many Blinders here, I went to third tier school in USA and graduated with a non CS degree. I mostly self learned programming. I can’t solve more than 90 of the LC questions. Even on the easy ones, it takes me 40 mins and the only solution I come up with are brute force solutions. I never got any RSU from any company and my max sign up bonus ever received is $5000. I did graduate debt free and got rejected on the first phone interview at Amazon. But I wanted to thank the Blind community for helping me to form a strategy to reach this goal. Last year I followed a post somebody sharing his/her experience and that post helped me formulate mine. TC: $120k
What’s your YOE?
5
Congrats OP this is a huge milestone, how old are you?
29
Yeah any guidance on that old post will be helpful here
Screenshot posted on the first comment.
Tesla sneaking down again, oops 😛
With Tesla in the portfolio, that is expected. Always ready to see a correction as much as 40%
Nice. Very similar strategy to me. Briefly peaked around 1.2 earlier this year but probably played around with options too much and am hovering around 950k now. The best trades are the ones I never sold and held for years (NVDA ENPH AMD BTC)
Congratulations! That’s huge! What’s your portfolio allocation? How long did it take for you to reach 1M?
For the investment noobs here: Do not underestimate the power of compounding. It’s difficult to get the portfolio larger than your annual income. After that, it grows by itself. All it takes is three 10x plays to get from $1000 to $1M. (I know I’m leaving taxes, lowering risk/averaging with other stocks, etc. for simplicity). So start early and invest big in your initial days.
What would you do if all cash at this point? Say1M
You mean what if one has a cash of 1M?
Congrats 🎉🎉🎉
Congrats. You are 29 with a lot of career ahead. With Leet code and system design practice you can get a higher paying job that will allow you to double this in the next four years. Your achievement is great but don’t just sit on it. Unsolicited advice yes, but this is what I would do if I were you. All the best.
That’s actually true. 1M might be significant compared to OP’s TC but people can achieve rather easily these days through leetcoding.
I did think about this. I didn’t get here financially by working for somebody else but rather focusing on my investments. Now that I am at 1M mark, I feel like I should focus more at my investment and find a simple job to pay for ongoing bills instead of high pace, high TC job. What’s crazy is that just few months ago, I was barely above $500k. What’s even more tempting is to play with volatility. On average my portfolio goes up or down by about 2 months of my salary before taxes.
Can you share that post please ?
I don’t have the link but here is the screenshot. I hope this helps.