4 ms·

Does working at Google for this long make one a millionaire?

xor25519 3y ago
not if you are a security guard
ska 3y ago
Conservatively, working any job that lets you put 25k/year into a tax shelter like a 401k for 20 years will make you a millionaire, or at least damn close. This covers a large number of tech jobs in the US if you choose to.
- jdthedisciple 3y ago
  Well that route is comparatively barely impressive. And you haven't even taken into account inflation. In contrast, I have the impression that some FAANG employees make it within 5 years or less, considering some of the salaries there...
  - ska 3y ago
    The point is it shouldn't be impressive to people in tech, more par for the course if you work 20 years and save. I was responding to the question as written. To your point though, if you do want to amass 1mm liquid quickly without a fancy certification (e.g. neurosurgeon), absolutely FAANG and wall st. are among the most risk free ways to do that. Or you can go the route of pissing a lot of it away because you make "good money" now; your choice.
underdeserver 3y ago
In the sense that someone living a reasonable medium class life in the bay area could save more than $1 million, definitely.
- jdthedisciple 3y ago
  Not sure if I'm reading your comment correctly. Are you implying it's hard to save up living in the bay area?
askafriend 3y ago
VPs at Google make $2-3M+ every year...
- jdthedisciple 3y ago
  That is crazy... I just always wonder how many millionaires have been made simply via FAANG employment.
DannyBee 3y ago
I mean, working this long anywhere will make you a millionaire, but also keep in mind things often happen in 20 years that can cost a lot: Caring for sick parents/loved ones Your own medical/etc issues Kids Divorce Market changes etc I mean, without getting into my personal life, for example, , google gave options and not equity for years, and there were times those options were underwater, etc. So it's not all just raking in money hand over fist.

not if you are a security guard

ska 3y ago

Conservatively, working any job that lets you put 25k/year into a tax shelter like a 401k for 20 years will make you a millionaire, or at least damn close. This covers a large number of tech jobs in the US if you choose to.

jdthedisciple 3y ago
Well that route is comparatively barely impressive. And you haven't even taken into account inflation. In contrast, I have the impression that some FAANG employees make it within 5 years or less, considering some of the salaries there...
- ska 3y ago
  The point is it shouldn't be impressive to people in tech, more par for the course if you work 20 years and save. I was responding to the question as written. To your point though, if you do want to amass 1mm liquid quickly without a fancy certification (e.g. neurosurgeon), absolutely FAANG and wall st. are among the most risk free ways to do that. Or you can go the route of pissing a lot of it away because you make "good money" now; your choice.

underdeserver 3y ago

In the sense that someone living a reasonable medium class life in the bay area could save more than $1 million, definitely.

jdthedisciple 3y ago
Not sure if I'm reading your comment correctly. Are you implying it's hard to save up living in the bay area?

askafriend 3y ago

VPs at Google make $2-3M+ every year...

jdthedisciple 3y ago
That is crazy... I just always wonder how many millionaires have been made simply via FAANG employment.

DannyBee 3y ago

I mean, working this long anywhere will make you a millionaire, but also keep in mind things often happen in 20 years that can cost a lot: Caring for sick parents/loved ones Your own medical/etc issues Kids Divorce Market changes etc I mean, without getting into my personal life, for example, , google gave options and not equity for years, and there were times those options were underwater, etc. So it's not all just raking in money hand over fist.