graduating next year, have been leetcoding for about 4 months straight, i want the best way to be financially stable, i.e have 250k saved up in ~5 years, is this possible and how I do I go about it? (Any tips on saving, courses or lessons, getting better at my future job (data science) etc will be helpful.
Will be interning at FB summer 2020
My whole life I have had one goal, that is to make more money that my parents combined. I come from immigrant family who made around 60k combined but now about 150k. They usually have disagreements about money, because one makes more than the other. And due to lack of money, my siblings and I are usually subjected to the usual disagreements they engage in, we are academically strong, I attend a state school and 2 others are/will be attending Ivyies. I decided that I want to major something i enjoy, computer science and just work my ass off till I make it. I don’t really understand the concept of saving cuz we lived paycheck to paycheck, but I want to save money, show them that it’s possible and live happily. Been leetcoding cuz this is the game right now, so any advice would be appreciated, wether it’s on saving, getting better at my future job, making connections etc.
- State Farm sweeeeeeProud of you man. I feel like lots of Blinders have been in your shoes. Keep up the great work.
- Amazon badonkaKeep up the attitude, that is a big part of starting off the right way the financial aspect of your life. You can def save 250K+ in 5 years in FANG or similar. Aim to save 30% of your paycheck plus not selling stock for 5 years. That can take you to 500K+ in networth. Keep leetcoding and with some luck you’ll be there ✌🏽😉
- Facebook Pat&MatI came from somewhat similar background from yours. Except I was the immigrant. I went from making 1200$ (not a typo) to 300k+ per year. I would say put your hear into learning a lot about your job. My advice would be to plan to be a senior engineer in 5 years and get an 400k+ offer.
Meanwhile read some books about budget managment, investment and self help. Here is a list of good books by John Sonmez (I definitely recommend reading his book )
- Uber DollarSignWhen you make it, don’t spend it all out trying to copy other people on your Instagram
- Red Hat johnniewicThe very thought of having to save and be prepared for something is very good, you’ll be alright!
But don’t fall into this “who saves the most” game, you won’t end up with much money. Try to re-invest in yourself so that your earning potential is increased. These could be health, (mental/physical)and things that make you happy in your personal life so that you could be best/happy in your professional life.