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Contra to a popular belief, saving doesn't make you rich. It makes your future more secure though. Of course, you must not spend recklessly (e.g. buy 20 Ferrari

Contra to a popular belief, saving doesn't make you rich. It makes your future more secure though. Of course, you must not spend recklessly (e.g. buy 20 Ferraris or a yatch). Investing that yields high reward is not saving. Making money is more important because as you move up the ladder your earning will grow exponentially. Any ladder probably achieves the same impact (e.g. a director earns 10 more times than a senior engineer). No amount of saving can get you that much money. If you can move up the ladder quickly (or even slowly), making money will outpace spending.

codingdave 5y ago
> director earns 10 more times than a senior engineer. Where the heck do you work?? I certainly hope OP is communicating ways to be successful and secure, not how to strive to be in the 1%. For most high school students, "rich" means being able to easily pay their bills, have a decent home, and have plenty of disposable income. Only people who are already quite rich define "rich" as having the luxury of choosing whether or not to buy yachts.
- ergocoder 5y ago
  At Google, for example, a director can easily earn 3m a year, while a senior engineer earns 300k a year. A VP can easily earn $10M to $50M a year. At that level, the compensation varies a lot, but it can be 3x-10x from the director level. Stock compensation is really great. Facebook, Apple, Twitter, Airbnb, Coinbase, Salesforce (maybe), Oracle (maybe), Square (I could name 10 more) would probably offer similar compensation ladder > I certainly hope OP is communicating ways to be successful and secure, not how to strive to be in the 1%. For most high school students, "rich" means being able to easily pay their bills, have a decent home, and have plenty of disposable income. Only people who are already quite rich define "rich" as having the luxury of choosing whether or not to buy yachts. Being born as an average citizen in a developed country would probably put you in the top 1% of the world already. Very likely. If this is the case, what is the point of the question?
  - comp_throw7 5y ago
    Nit: directors (parallel to L8) at Google earn closer to 1m/year, not 3m per year, i.e. 3x what Sr. Engineers (L5) do.
snickersnee11 5y ago
Love that example. Glad I do not spend money recklessly.

codingdave 5y ago

> director earns 10 more times than a senior engineer. Where the heck do you work?? I certainly hope OP is communicating ways to be successful and secure, not how to strive to be in the 1%. For most high school students, "rich" means being able to easily pay their bills, have a decent home, and have plenty of disposable income. Only people who are already quite rich define "rich" as having the luxury of choosing whether or not to buy yachts.

ergocoder 5y ago
At Google, for example, a director can easily earn 3m a year, while a senior engineer earns 300k a year. A VP can easily earn $10M to $50M a year. At that level, the compensation varies a lot, but it can be 3x-10x from the director level. Stock compensation is really great. Facebook, Apple, Twitter, Airbnb, Coinbase, Salesforce (maybe), Oracle (maybe), Square (I could name 10 more) would probably offer similar compensation ladder > I certainly hope OP is communicating ways to be successful and secure, not how to strive to be in the 1%. For most high school students, "rich" means being able to easily pay their bills, have a decent home, and have plenty of disposable income. Only people who are already quite rich define "rich" as having the luxury of choosing whether or not to buy yachts. Being born as an average citizen in a developed country would probably put you in the top 1% of the world already. Very likely. If this is the case, what is the point of the question?
- comp_throw7 5y ago
  Nit: directors (parallel to L8) at Google earn closer to 1m/year, not 3m per year, i.e. 3x what Sr. Engineers (L5) do.

snickersnee11 5y ago

Love that example. Glad I do not spend money recklessly.