Single earners having NW 4M-8M @ 35-42 years of age is insane. No these posts are not from Tesla/Nvidia employees. Some are not even FAANG. Even if they are, rarely L8+. Coping hard by trolling? Or are they really finance/investing genius?
If you started working at 24 in 2013 in Silicon Valley and just DCAing into the SP500, you're a 35 years old millionaire today. It's been an insane bull run Also, some of these posts are Rajenomics based, where they count their unpaid house as NW
Money is just a game and some people are good at the game. You don’t need to have a good job to make tons of money
Yeah, if you hit the roulette 3 times in a row you can also make money
their parents have money and have been front loading bank accounts for them since before they were born. these people turned 21 and could buy themselves a million dollar home in their hometown, they aren’t like the rest of us
What? Enter FAANG in year 2012. Until the start of COVID, we got: 1. Crypto wagon 2. Yearly double digits growth in many tech stock 3. house value increase hell if parked your money in VTSAX, you should be sitting on couple mils
There are really very few ways - 1. Inheritance 2. Being a Tesla/ Nvidia employee who joined at a right time, didn’t sell on vest 3. Getting lucky in picking the right stocks or in fact options or crypto 4. Super Genius in climbing ladders, so reach E6+ in 5-6 years and have frugal lifestyle
There’s an element of luck to the stock market, but it’s not all luck… otherwise people wouldn’t play
bag holder spotted
even an average job with 250k tc will make you a millionaire in 7 years if you live in Washington where rent and tax is low
Selection bias - typical g*lt bragging
We just experienced the biggest economic boom of all time from 2012 or so until 2022. If you were a younger job seeker and were even remotely competent, you could do rather well which was a BAD thing for everyone involved. Not only are these people now have a NW that they truly didn't truly earn, they think that they actually are the only ones who deserved it. I didn't see this sort of behavior from people in their 40s and older during this time - they did their job and because of ageism they didn't do nearly as well. This app has a ton of people who don't understand this and it's painful to see, but there isn't much that can be done.
Blind is full of rich people. I am blind poor