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This is very theoretical and I would say there are a lot of mistakes in the analysis I would look more simply at all the people I know that are entrepreneurs v

This is very theoretical and I would say there are a lot of mistakes in the analysis I would look more simply at all the people I know that are entrepreneurs versus those that work in a job. At least 50 percent of the entrepreneurs have over $1 million In assets and in a few cases over $10 million Zero employees that I know have over $1 million in assets I think it is far more likely to be wealthy as an entrepreneur, it's possibly a bit safer as an employee.

neilk 12y ago
https://en.wikipedia.org/wiki/Survivorship_bias https://en.wikipedia.org/wiki/Survivorship_bias
nostrademons 12y ago
I know quite a few employees with over $1M in assets. Unless you're a relatively close personal friend, there's basically zero reason for someone who earned over $1M in non-public transactions (notably salary) to tell you about it, though.
- smm2000 12y ago
  There is zero reason to tell close personal friend that you have more than $1M in assets unless your friend have comparable assets. People are jealous and telling somebody that you have much higher salary (especially if are in the same industry) or you have a lot of assets is the sure way to destroy friendship.
  - nostrademons 12y ago
    Well, there are other ways to infer it if you hang out with someone on a regular basis, eg. if they say "I'll just work for another 5 years and retire", or if they own 3 homes in the Bay Area and aren't complaining about mortgage payments, or if you do an anonymous net-worth survey among many of your friends and see that some of the top rows are over $1M.
greenyoda 12y ago
It may depend on the ages of the employees that you know, since investments grow over time. Someone with a developer's salary can get a good fraction of a million dollars just by steadily contributing the maximum amount to their 401-K (plus company match) for 25 years. And, of course, you can save more of your salary in additional investments.
stephencanon 12y ago
>Zero employees that I know have over $1 million in assets You don't know anyone who has been at google / apple / facebook / amazon / microsoft / etc for more than a couple years, had a few notable accomplishments, and been promoted once or twice?

neilk 12y ago

https://en.wikipedia.org/wiki/Survivorship_bias https://en.wikipedia.org/wiki/Survivorship_bias

nostrademons 12y ago

I know quite a few employees with over $1M in assets. Unless you're a relatively close personal friend, there's basically zero reason for someone who earned over $1M in non-public transactions (notably salary) to tell you about it, though.

smm2000 12y ago
There is zero reason to tell close personal friend that you have more than $1M in assets unless your friend have comparable assets. People are jealous and telling somebody that you have much higher salary (especially if are in the same industry) or you have a lot of assets is the sure way to destroy friendship.
- nostrademons 12y ago
  Well, there are other ways to infer it if you hang out with someone on a regular basis, eg. if they say "I'll just work for another 5 years and retire", or if they own 3 homes in the Bay Area and aren't complaining about mortgage payments, or if you do an anonymous net-worth survey among many of your friends and see that some of the top rows are over $1M.

greenyoda 12y ago

It may depend on the ages of the employees that you know, since investments grow over time. Someone with a developer's salary can get a good fraction of a million dollars just by steadily contributing the maximum amount to their 401-K (plus company match) for 25 years. And, of course, you can save more of your salary in additional investments.

stephencanon 12y ago

>Zero employees that I know have over $1 million in assets You don't know anyone who has been at google / apple / facebook / amazon / microsoft / etc for more than a couple years, had a few notable accomplishments, and been promoted once or twice?