3 ms·

Hell of a lot of "ifs" and assertions here. IF you can get a 100k job at age 21 and IF you can save 30% per year (which us a lot) and IF nothing goes wrong with

Hell of a lot of "ifs" and assertions here. IF you can get a 100k job at age 21 and IF you can save 30% per year (which us a lot) and IF nothing goes wrong with your health, company failing, being laid off, etc etc. It's highly, highly unrealistic to assume 21 year olds earning 100K AND saving 30% of it, have you met many 21 year olds?

bordercases 4y ago
I don't get it – the ask is "how to do X?". The answering being, "if you are or you do Q, then you will get X" is perfectly well-formed. The conditions you mention are hazardous but also true for having a career or being materially free in general, rather than just for how to become a millionaire.
annyeonghada 4y ago
And IF you work in the US. In certain European country, like mine, teach workers[1] earn less than the average salary while working more hours than the average population. No golden handcuffs or millionaires here. [1]In general every non-medical degree will get you the same pay as a specialized skilled worker but skilled jobs and manifacturing are even less and often with horrible conditions so everyone goes to the degree route and hope to find somwthing or emigrate. I wish I had done Medicine as my mother said.
nexus2045 4y ago
No it’s not unrealistic. Any decently bright and hard working college student studying computer science can get that 100k+ even as an intern. So technically this saving can start before age of 21. By age 25 they can already make 300k+. But yes, this is assuming you are in North America.
- eddyschai 4y ago
  They can, but most don't.
soared 4y ago
It’s an oversimplification of my income for clarity. In this scenario you make 100k and never more or less (no raises, no other income sources). If you live outside of California or NYC saving 30% is very doable if you’re fiscally responsible, which if your goal is to be a millionaire is a good prerequisite. I made 36k out of college but now make 135k. I saved 0% at the start and save over 30% now. Assuming I’ll keep getting raises I’ll be a millionaire. My goal was to show OP that you don’t need to start a business to become a millionaire, working in tech for a long career with financial literacy will also get you there.
Justin_K 4y ago
With that attitude, you're going nowhere...

bordercases 4y ago

I don't get it – the ask is "how to do X?". The answering being, "if you are or you do Q, then you will get X" is perfectly well-formed. The conditions you mention are hazardous but also true for having a career or being materially free in general, rather than just for how to become a millionaire.

annyeonghada 4y ago

And IF you work in the US. In certain European country, like mine, teach workers[1] earn less than the average salary while working more hours than the average population. No golden handcuffs or millionaires here. [1]In general every non-medical degree will get you the same pay as a specialized skilled worker but skilled jobs and manifacturing are even less and often with horrible conditions so everyone goes to the degree route and hope to find somwthing or emigrate. I wish I had done Medicine as my mother said.

nexus2045 4y ago

No it’s not unrealistic. Any decently bright and hard working college student studying computer science can get that 100k+ even as an intern. So technically this saving can start before age of 21. By age 25 they can already make 300k+. But yes, this is assuming you are in North America.

eddyschai 4y ago
They can, but most don't.

soared 4y ago

It’s an oversimplification of my income for clarity. In this scenario you make 100k and never more or less (no raises, no other income sources). If you live outside of California or NYC saving 30% is very doable if you’re fiscally responsible, which if your goal is to be a millionaire is a good prerequisite. I made 36k out of college but now make 135k. I saved 0% at the start and save over 30% now. Assuming I’ll keep getting raises I’ll be a millionaire. My goal was to show OP that you don’t need to start a business to become a millionaire, working in tech for a long career with financial literacy will also get you there.

Justin_K 4y ago

With that attitude, you're going nowhere...