Over the past few years, thanks to good spending habits, career progression, RSU apperication and the Fed printer, we've managed to save a decent sized nest egg of about $3M. At the same time, the techniques we used to get here are fundamentally no different from regular wage earners (before someone calls me ungrateful/entitled, I do appericate how incredibly lucky/privileged I am).
Currently most of our assets are in a mix of RSUs/ETFs/equity in our home/crypto/401k.
I feel to 10x in the next decade from here, the same techniques wouldn't work (as the chances of realistically getting to something like VP don't seem great, plus stocks may not keep up the gains from the past decade). What are some ways to move the needle significantly from here? The only things which come to my mind are joining/investing in a startup (perhaps starting something of my own, but I'm not sure if that's my calling), using leverage to build a real estate portfolio (I'm probably to poor to do this in a top markets like Bay Area, but can get something decent in LCOL markets). But using leverage in this late stage of the economic cycle seems risky too. What are some other ways to achieve this kind of growth? Not looking for WSB yolo kind of ideas (I have too much of an average luck to have my meme stonk pick 100x).
TC: Me 400k, wife 300k
NW: 3M
Age: 29, 29, and 1yo kid
EDIT: 30M is a ball park number, I really mean an order of magnitude increase from where I am, rationale in comments below.
Want to see the real deal?
More inside scoop? View in App
More inside scoop? View in App
blind
SUPPORT
FOLLOW US
DOWNLOAD THE APP:
FOLLOWING
Industries
Job Groups
- Software Engineering
- Product Management
- Information Technology
- Data Science & Analytics
- Management Consulting
- Hardware Engineering
- Design
- Sales
- Security
- Investment Banking & Sell Side
- Marketing
- Private Equity & Buy Side
- Corporate Finance
- Supply Chain
- Business Development
- Human Resources
- Operations
- Legal
- Admin
- Customer Service
- Communications
Return to Office
Work From Home
COVID-19
Layoffs
Investments & Money
Work Visa
Housing
Referrals
Job Openings
Startups
Office Life
Mental Health
HR Issues
Blockchain & Crypto
Fitness & Nutrition
Travel
Health Care & Insurance
Tax
Hobbies & Entertainment
Working Parents
Food & Dining
IPO
Side Jobs
Show more
SUPPORT
FOLLOW US
DOWNLOAD THE APP:
comments
Plan to have 1 more, maybe 2 more kids. 3M isn't much with 2-3 kids. 3M also doesn't feel much when you fly 10+ hours in coach on long duration flights, and business class fares are a non-trivial fraction of your NW.
Here’s some of my top tickers to inspire your journey that alone should be enough to enjoy above qqq returns.
Amzn. Nvidia, Vicr. Shop. Se. Ma. Cdns. V. Msft. Adbe.
1) got into real estate syndications (great tax benefits, reduced risk, increased diversification, almost no work) about 5 years ago, now I’m in over a dozen properties across the world. This pays for new investments.
2) Created online content and partnered with someone who knows how to market. This buys my lifestyle.
3) With investments and lifestyle taken care of, I jumped off the faang ship and got into an early stage startup that has enterprise clients, distinguished investors, a clear technical problem inhibiting their growth (that I can solve), and a clear value add that a 5 yo could explain to me in a few sentences. This is a risk with the potential of reaching the “next level”
For your online content, how did the returns vs time compare to your TC from a regular job? Online content/businesses etc. seem such crowded and low entry barrier fields, that it seems almost not worth doing it.
For your startup gig, how did you vet this, and have you made bank already?
The online content was super time consuming (~1500 hrs over 4-5 months which meant I had to quit my job). Now it provides enough passive income for me to not have to work - though it’d take roughly 20 years not working to hit 20M when including real estate returns.
Since I didn’t want a 20 year wait, I looked to startups. I vet them the same way I vet my investments (in fact, I wanted initially to invest in them but when they said no I decided to work for them instead). Basically I look at their integrity, annual recurring revenue, operational expenses, financing expenses, sales cycle, retention, pipeline value, runway, current investors, market size, and obviously a clear way for me to add substantial value. No exit yet, it should take a few years.
700k and a child wow
I wish I had your life
Just kidding, good luck on ur goal!