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You can't get Rich with a capital R through safe, traditional investing working even a SWE job. You can get upper-class rich, seven figures rich, comfortable h

You can't get Rich with a capital R through safe, traditional investing working even a SWE job. You can get upper-class rich, seven figures rich, comfortable house, vacation home, early retirement rich, but you can't get Private Jet Rich, Masters of the Universe Rich, Look At Me Rich. If you want to be Rich you need to to resort to something like playing the lottery, or starting a unicorn startup, or exploiting large numbers of people for your own profit, or crazy "technically it's not a pyramid" schemes like crypto and DeFi.

whimsicalism 5y ago
or inheritance
ranma4703 5y ago
Sounds like we should tax people enough that they can't get "private jet rich", in order to disincentivize those harmful behaviors. Nobody should have the power that having a billion dollars gives you
- nybble41 5y ago
  > Nobody should have the power that having a billion dollars gives you Let's pretend for a moment that I agreed with you on this. Your proposal to address the situation is to take all that money, which is currently at least somewhat distributed, and concentrate it in a single organization which already claims a license to steal, kidnap, and murder. I really don't think you've thought this through…
6gvONxR4sf7o 5y ago
> You can get upper-class rich, seven figures rich, comfortable house, vacation home, early retirement rich, but you can't get Private Jet Rich, Masters of the Universe Rich, Look At Me Rich. SWE at the staff level will get you low to mid eight-figures rich [0] by the time you're old with safe, traditional investing. Sure you aren't Masters of the Universe Rich, but you're still filthy rich. And how many crypto people are going to beat low-to-mid eight figures? Maybe if you put $100k into bitcoin in 2013, but I'd bet there are more SWEs making $500k+ than there are people who put that much into crypto early enough (and weren't already filthy rich). [0] Low-to-mid eight-figures in today's dollars. Nine figures in future dollars. Assume $500k income, putting half away from 35 to 65, getting 7% (4.1% after 2.9% inflation).
- saalweachter 5y ago
  > ...by the time you're old... I think this is a deal-breaker for get-rich-quick types.

whimsicalism 5y ago

or inheritance

ranma4703 5y ago

Sounds like we should tax people enough that they can't get "private jet rich", in order to disincentivize those harmful behaviors. Nobody should have the power that having a billion dollars gives you

nybble41 5y ago
> Nobody should have the power that having a billion dollars gives you Let's pretend for a moment that I agreed with you on this. Your proposal to address the situation is to take all that money, which is currently at least somewhat distributed, and concentrate it in a single organization which already claims a license to steal, kidnap, and murder. I really don't think you've thought this through…

6gvONxR4sf7o 5y ago

> You can get upper-class rich, seven figures rich, comfortable house, vacation home, early retirement rich, but you can't get Private Jet Rich, Masters of the Universe Rich, Look At Me Rich. SWE at the staff level will get you low to mid eight-figures rich [0] by the time you're old with safe, traditional investing. Sure you aren't Masters of the Universe Rich, but you're still filthy rich. And how many crypto people are going to beat low-to-mid eight figures? Maybe if you put $100k into bitcoin in 2013, but I'd bet there are more SWEs making $500k+ than there are people who put that much into crypto early enough (and weren't already filthy rich). [0] Low-to-mid eight-figures in today's dollars. Nine figures in future dollars. Assume $500k income, putting half away from 35 to 65, getting 7% (4.1% after 2.9% inflation).

saalweachter 5y ago
> ...by the time you're old... I think this is a deal-breaker for get-rich-quick types.