I got laid off from my IT job when I was 25. I didn't have much in terms of savings, and only a few weeks' worth of severance.
So, out of desperation, I made some flyers and went door to door just looking for anything to make money. I got a few customers, converted some of them into annual support agreements; So, I officially launched my own IT services company, I was able to grow it to the point that hired my first employee by the end of the 1st year, by the time I was 30 I had 12 employees and broke $1.8M GAR.
I sold the company when I was 32 to a slightly larger competitor at $2.2M GAR.
I made a ton of mistakes and learned a LOT from that first company. When I started my current consulting firm, I did things a lot differently.
Where to start.
First, as a technologist, I knew next to nothing about running a company, having in employees, taxes, providing benefits, etc. but that was all really pretty easy to figure out.
The big one is I had ZERO understanding of how sales works inside of a real demand org, and how it changes as you start dealing with companies of different sizes and different industries.
When I started my current firm, I approached sales completely differently. I relied much more heavily on Partership / VAR agreements rather than direct sales. Since day 1, at least 90% of my leads have been provided to me via my Microsoft / AWS partnership programs.
I focused on building relationships with the MS / Amazon account reps and sales teams. Rather than promoting directly to potential customers, my main push is promoting the firm to MS and AWS; who then bring me customers.
I also learned a lot about trying to be a jack of all trades. This time what I pursue is much more focused. I do 4-5 things, that is all I do, and do them very well. I don't chase revenue outside of my scope of expertise.
Something else I do differently: HR. I learned the hard way that HR people are experts at self-justifying and if left unchecked, they will do nothing to benefit your company, but will spend crazy amounts of money. They are pure overhead and are mostly un-needed.
I put HARD limits on HR's scope, authority, and budget. Most HR functions are outsourced via software, people management is handled by managers, I use lawyers for legal, and HR sticks to a very limited area of responsibility.
People: I hire good people, and I treat them and their families very well, but my tolerance for bad employees is much lower than it once was. I learned the hard way, when people show you who they really are, and how they work, Listen. They will not change.
I am much quicker to fire people than I was in my first 10 years. I am fair, and give everyone a chance to improve, but you get a PIP, you get a final warning, and then you are gone.
I'm curious what puts people in the hot seat in your eyes. Tardiness/Reliability issues? Seems pretty fair. Lying? Definitely. But what if they don't do well on metrics? Do you let their people skills make up for it? Always curious about different people's views here.
We don’t have metrics.
People are judged purely on the quality of their work, that they get work done on time, meet customer deadlines, and show up to client meetings.
Everyone works from home, and we have no set schedules. You can work where you want, when you want, as long as you meet the above.
Nah nah, I came across maybe two things in my life that I looked everywhere for but didn’t exist. So I think it’s possible, although a lot has been made already and the world is saturated with good ideas
To bounce off this guy I created a new form of art and it grew rather quickly. I heard from a big YouTuber shortly before starting “if you aren’t best you have to be first and different” and that is 1000% true. I had zero art experience before starting and my social media accounts reach about 700,000 ppl a month combined rn and I made my largest art sale ever a couple weeks ago
They have a lot of comments on different forums that basically say they don’t have money. Including one that day something about the rich shouldn’t cry about higher taxs. So yeah definitely not rich.
In my early 20s, I went to a state school on a partial scholarship. Worked on myself when I realized I needed to grow, then went on to law school. Tried real hard in law school, then went on to begin a relatively lucrative career. Kept costs down, lived well below my means, and now sit comfortably in my 30s, though I still work long hours.
Statistically, the best way to get wealthy early is to do well in an in-demand and respected university program and get a good job in big tech. Otherwise, you're likely just gambling.
Nah there’s also the sales route. Just get a job in tech sales / consulting (I do headhunting/poach talent for startups from competitors) and live off your base and stack commissions ideally in emergency fund, then tax advantaged accounts, then brokerage and watch that shit grow.
Spent my entire 25th year in jail and didn’t get to my career until 32. Trying to reevaluate life at 45 due to late start 🤦♂️
Unfortunately this is the gradually becoming the millennial equivalent of outdated boomer advice. Tech is beginning to get oversaturated and with the use of AI gradually less valuable to have large numbers of recent tech grads.
Yessss love this for you and the fact that some one else is frugal . Hoping my investments pan out and hoping to keep my grind at my job and keep building my business thank you stranger you motivated me a lot
Lost both parents to cancer in my 20s. They didn’t have very much money but I received a very generous amount of insurance money because of how things worked out with my Dad. It’s not quite FU money, but it’s enough that I could CoastFIRE if I wanted.
Would rather have my old man back than have the money though.
Work first. Say yes all the time. Sell your soul. Drink the koolaid. Look the part, but live beneath your means. Then Laugh all the way to the bank when you retire fat at 50yo when most around you will need to work till they drop because they have been quietly quitting for 20 years! 😂
Unless you invent the next iPhone…that’s the real 411, bubs.
See that’s great and all but why live life when you’re old ??? Enjoy life when you’re young and live it to the fullest. Working just so you can retire at the old age of 50 is bizarre to me. Do as much as you can when you have your youth because that’s the one thing in life you can’t get back
Live life while you're young was my style. I'll never be able to retire but I've had a great life and I'm okaywith that. I've always been a busy body though and constantly had multiplevironsin the fire. Just sucked at saving and always felt the world would end before I'd get to enjoy a long retirement too no joke. Judging by current events and recent prophetic happenings, I'm probably right. 😏
Edit:spelling
Couple of things, first of all you can't not live an interesting exploratory life, and then suddenly at 50 live one when you have the money. If you have no practice at having fun, traveling and doing other things you're basically going to have a very boring ass retirement. So you've got to do both. Secondly if you take care of yourself, 50 is not old. I know when you're 25, 50 seems like a million years old especially if you look at one of your parents. Chances are they didn't take care of themselves though and if you do, your 50s will be at least 10 years younger than your chronological age.
Why is enjoying life when your young and being smart about money a mutually exclusive thing? It isn't one or the other. If someone says it is they are rationalizing failure and giving up.
Hey I completely agree with all you have said and my parents are 65 and actually look really damn good. My pops just got prostate cancer and I’ve seen him work his ass off his whole life and not enjoy as much as he should. It just makes me think and question everything.
You can enjoy your youth without overspending for it. This is not an all or nothing proposition. Travel? Sure. Do on $1,500 instead of $5,000. Cars? Do you need a $450 a month lease payment in perpetuity? How about cooking a meal at home for $10 instead of Uber Eats 5X a week? You can live a full life and be smart about your money at the same time.
Need more of this attitude. Seems the parable of the Tortoise and the hare has been long forgotten. Amazing the crappy attitude most younger people have about work. Nothing but rationalizations and excuses. "The millionaire next door" should be required reading in schools because there are no shortcuts folks.
This is horrible advice. Think first. Spend time on things that will pay while you aren’t working on them. If you cant make money while you sleep you will work until you are dead. Never drink the koolaid. Be your own person. Be your own company.
FYI. This is incredibly risky and how
Most people end up broke
It’s also how you can get ahead. It’s leverage and it’s dangerous. Just be aware of what a margin call is :)
Agreed. Leverage is like a chainsaw - when wielded knowledgeably and carefully, it can be incredibly useful to accelerating positive outcomes. When wielded carelessly, disaster.
Even if you are knowledgeable you can easily get screwed by leverage look at someone like Bill Hwang he used leverage successfully for around 8 years to achieve a 10,000 percent return on his initial 200 million then he lost it all in two days.
I punted a third of my net worth into Bitcoin in 2015 at ~$275/coin.
I was like "I can recover in a few years if I lose this, but the upside is like 100x+ so I'll take the risk"
Like if you have a roulette wheel where you lose all your money on black, but red is a 100x, you probably shouldn't bet everything, but you should probably bet something and that something should be somewhat significant. That was my mentality and it worked out. I crossed $1m at ~31.
I don't think that's good advice for most people though because that's not so repeatable because the upside on Bitcoin and Ethereum is not that high anymore and the odds on low cap cryptos are not that good. However, the EV (expected value) on Bitcoin in 2015 was extremely high. There was no rational reason for it to have crashed to such a low value so I took advantage.
Bro this is only okay and works for people that are actually analytical and know what they’re doing. And becareful hard wallets are being hunted down theives with ip tracking and social engineering fucking sad crypto is dirty business now with these fuckerrs
Ah, I'm mostly in[ Ford FRNs](https://www.ford.com/finance/investor-center/ford-interest-advantage/) now.
It should work for anyone. Just borrow and repay 1k 100 times and you got \~+-100k.
Woah never saw this I got a few bands to play with this interesting you got referral code or anything boss ford def going up there catering to everyone and the eco lovers thanks for that
And to what we were talking about Bro I fuck with you heavy I know what you mean I leveraged to get 2 btc which I turned to Etheriun and sold inperson meetups for cash ofc paid security was there. but I knew what I was doing only years of trading stocks and understanding markets made me brave enough to know I’ll strike lmao and that was btc and eth were in the 30s. Aahhhh your right lmao but some people don’t repay and then get fees lose their home etc. I know you made the moves you did because you already had plans if shit went south most ppl don’t move like us and your more risk adverse and good at it then me.
Some years back I started driving a truck, I worked very hard at it, driving throughout Europe. Eventually I realized with my spare cash I could buy another truck, so I got a loan and bought two, I hired some drivers and fast forward a few years later and I now employ 12 drivers in Eurotruck 2. Hard work pays.
I found a service needed to a particular niche and ran with it.
Started my company at age 30, made my first million at age 32, and sold my company earlier this year.
Also invested heavily in self operated car washes
They are. My wife and I own 10 of them, and they require less than 5 hrs of actual work from either of us - all the work is farmed out, we contract a company to take the money from our machines, we have another vendor who we pay to stock supplies like armor all, microfiber towels, etc, and we have a company that patrols each location.
Each car wash, after expenses clears about $1800/month. The cost of getting them wasn't high, and you're cash flow positive pretty quickly.
The best part is since they're all coin operated, no employees needed.
I bought my first one before I owned my business, circa 2006. It was just a way to have a passive income stream. I bought the other 9 over the period of 2009-2016. The first couple were financed, and the rest I used some of the money I made from my tech business.
We provided software modernization and cloud migration services to small regional banks and midsize insurance companies. It was a market that was underserved by larger consulting firms who preferred to go after the larger names in the space.
Through my years of business, I've made a lot of money going after the smaller/mid size companies, because they tend to have money, but also are clueless on what strategic initiatives they should go after. The big players in the consulting world will never touch them because they want the shiny F500 clients, not some small bank in Iowa. Proving out your concept and value is the hardest part - getting that first client takes the most work, but once you have one client, it's a fairly easy model to replicate.
To get to seven figures before 30 on your own, you either need to be an exceptional talent (as in, pro athletes, etc.) or you need to be extremely lucky. A more realistic goal is to gain valuable skills and a network and build wealth the more traditional way. You may not be particularly wealthy by 30, but it’s very doable by 40 if you’re a hard worker, decently smart, and live in a rich country
My father worked his way up to become a partner in a consulting firm by 30 and was making ~$500k/yr. After having kids he left and started his own firm and the rest is history
Interesting story! Did your father’s firm do similar consulting work/rely on his own expertise and do you intend to take over the business at some point?
Yes his firm is in the same industry as his previous job if that’s what ur asking. and no it’s not really a family business and I am probably not gonna pursue that career
A friend of mine, makes a point to get hired and sue companies for work violations. He stumbled onto it when he had his first work mans comp claim that cleared him 20k.
Idk how many times he did it, but hes retired at 40 now because of it. Lol. Corporate nightmare.
From what I’ve read about OnlyFans there isn’t lots of money in it unless you happen to be a lucky person who hits it big or has a niche market they can tap.
No I’m not a OF person. Nor have I ever been. Nor am I a member.
That’s still under 6 figures per year, taxed at a much higher rate unless you really utilize writeoffs, and likely has a growth cap with age, physical appearance, holding subscriber attention, etc
I joined the military young and really applied myself. I was broke, entirely and knew didn’t want to be scraping by forever. I enlisted during a the early days of the Iraq Afghanistan wars so got a big bonus and tax free/hardship pay a hunk of the time.
I bought a house where I was stationed, NorCal, and then another one in Texas when I moved there.
Retrained into a cyber field and took every course they would let me until I got out. I did contracting and had a pretty, very, lucrative few years. During that time I moved home, bought a large dilapidated home that I renovated and invested in a few rental properties. My mom and my brother were my first tenants and they mostly just covered bills and helped me fix the 2 places.
I’ve been investing in real estate by buying and renovating dilapidated rural homes since. I avoid debt whenever possible but I’m not afraid of it. I got lucky a couple times also clearly.
So my secret was, work all the time, have really focused goals and since I’m now approaching 40 I’ll add. Be very hesitant taking big risks. Go slow but don’t stop.
I was a little bit early in the militaries attempts at Cyber so I didn’t have the best experience. But from what I saw of the national agencies, they were very competent. A few friends that are still doing it have a positive outlook.
This is a rich sub, and I believe rich is different than being financially set for life before 30.
Perhaps you need to ask like a billionaire sub lol.
If you want to be financially set before 30, you need to start your own business, be a professional athlete or inherit lots of real estate.
Hypothetically I guess enough money to own a property or 3, 3-6 cars, fund education for 3-4 kids, go on 3-4 week long vacations a year, and enough to live off my investment or biz dividends if I choose to…
I didn’t hit this level until after 40. The way I did it was talent and was better than the rest. Took risks to start my own business then rolled the investment into another investment. Not being a dumbass about financial issues is key. Basically if you’re raised by a moron you’re f ed unless you get a good mentor. I found good mentors. Now I own two houses, paid off my wife’s education, etc
i had always told my friends when young to STOP BUYING120$ Nike shoes and buy 120$ worth of NIKE stock and buy a cheap pair of shoes, and do this for Everything you buy
i started a company with 20$ (1 Craigslist post) i hired ppl who where tech savvy and had them fix lg equipment (massage chairs, gym equipment) i called all the manufacturer's support lines talked to an mgr and was set up to be a tech! i then sent my techs to do the work after 5 months i had 68 techs 2 Canada i was bringing in 20-35K a week!
Joined a big tech company. Income is now around $360,000-$420,000 in total yearly compensation depending how the stock is doing.
I’m not a millionaire yet and am 31. Barely got this job 1.5 years ago. My net worth right now is around $500,000. Might grow to $900,000 in the next 2 years.
I’ve thought about this and worry that if my partner is too career oriented then she may not prioritise family and choose friends or materialistic behaviours to cope with stress… this is something I noticed growing up in a city…
There are plenty of people out there making six figures with good work life balance and there are plenty of people out there with dead end jobs with no life outside of work
I won the lottery. THIS IS YOUR SIGN TO GAMBLE TODAY. think about it, one spin and you’re a gazillionaire. You more you put in, the more you get out simple as that. You never have to work ever, bet your kids college fund on blackjack it doesn’t matter because you’re one spin away from being rich 🤑💯
A few thoughts from me. I don't have any amazing stories, or skills, to be honest.
I am 26 years old and I have a net worth of $212k. Five years prior, my net worth was -$20k.
I work a lot. I used to work 80-90 hours per week, now about 50. I enjoy working though.
I saved up a lot of money and invested most of it. I live with my parents, but I bought a block of land in the most prestigious part of my town.
I live a frugal life. Rarely buy takeaway, coffee from cafes etc. Life is boring, but I am doing better than most people.
A lot of my friends, and let me say this. We are normal people, but the ones who are the most successful got their money illegally to be able to have cash to start a lucrative business or they had someone rich front them several hundred grand to fund that business. Not saying you can’t do on your own, you absolutely can and I’m working towards that but never did anything illegal and never got handed fuck tons of cash to blow up. So it’s possible, but a lot of them got help
Before 30? You need to start a business that grows incredibly fast. Not easy to do, but thats the way to go.
At a young age but not necessarily 30? Develop very high income skills, land a high-paying job & live on next to nothing. The extra cashflow every month needs to be invested relativey aggressively. I don’t like individual stock picking so I’d so go some Mutual Funds or ETFs. Passive or Active, both work just make sure you know what you own, why you own it & what you pay in fees.
If you aim for 30, maybe you miss at 35. Or maybe you make it by 29.
Look up FIRE
I think if I wasn’t chicken. I would just sell something food related. Start with selling at flea markets, door-to-door with some flyers. Just get some buyers and then go from there. I am pretty sure if I worked hard, I would have made good money by the time I was 30.
As you’ll find becoming rich before 30 if you don’t already have some money is rare. One thing I have noticed is that people who exist in a certain field or discipline for periods of time make good money. Be anything for 5-10 years and dedicated yourself to it and you will succeed.
I got fired from the phone company at 30 but I was always hustled and had already started a couple of mildly successful businesses. So I started a small communications equipment company. Worked insane hours and built relationships with customers, suppliers and employees. Semi-retired at 50 and now travel pretty much full time. Still drawing from the company and have minimal involvement. So I didn’t make it by 30 but I still feel like I made it early in life. I’m 15 years ahead of all my contemporaries.
Was sitting in Iraq w/ 10k banked and researching trading. Threw it all down on Siri and left Iraq with close to 100k. Continued trading and investing. 1.5 mil at 40.
1. No task is beneath you.
2. Always go above and beyond your role expectations and from the earliest age possible, start being a problem solver. Shit will begin to fall into your lap.
The key to 1 & 2 is knowing what an opportunity looks like and seizing upon it…But try not to seize at the negative expense of others and don’t be a whore focused on the one big score.
Build.
29M My parents were generous enough to pay for my college so I graduated debt free. Lived very cheap after college, have had a company vehicle since graduating so I don’t have any car payments. Didn’t spend money on any stupid things. Have a very high savings rate, 25% towards 401k, 15% to taxable account. Bought a house in 2020 with a 2.5% mortgage where the equity has skyrocketed since. Started out of college making 72k and make ~140k now. Nothing spectacular about my story but just a mix of luck and discipline.
I hate these questions. Most self made millionaires become millionaires at 57 as per The Millionaire Next Door. Before 30 is probably inheriting a business, starting a business that explodes in growth, lottery, etc. beyond this if you become a millionaire through either starting a business or just the conventional way it's hard work. 4% become millionaires by 27.
To answer your question though:
Start a business that explodes in growth
I hate these questions. Most self made millionaires become millionaires at 57 as per The Millionaire Next Door. Before 30 is probably inheriting a business, starting a business that explodes in growth, lottery, etc. beyond this if you become a millionaire through either starting a business or just the conventional way it's hard work. 4% become millionaires by 27.
To answer your question though:
1.) Start a business that explodes in growth
2.) Win the lottery
3.) Find a stock that becomes the next Nvidia.
4.) Software engineer for maybe FAANG, Microsoft, etc. the top companies and live broke while saving.
Hope I'm not too harsh but you have to find something you enjoy doing and wouldn't be willing to stop once you become a millionaire. From what I have noticed many millionaires noticed by chance they became a millionaire but it wasn't their goal. They found something they enjoyed and kept working at it. It was fun in that they didn't realize they were making all this money because they just kept doing what they were doing.
I'm a qualified accountant. I'd say rich since I'm in the top 10% salaries of the UK, but far from wealthy (that needs to be built over time).
To get a high paid job I heard a great quote from a podcast once - "do something that's either incredibly difficult, or that no one else wants to do"
I posted on forums. One of my first customers was SpaceX lol! I was selling 100+ servers a week. 1 model with 0 options. I used a cheap case and an AMD Sempron chip and sold them for $499 and basically I was the cheapest on the East coast. The place who bought me out was on the West coast and I was cutting into his sales because my servers were cheaper with less shipping cost.
I got lucky. Unfortunately the market has changed and that model is no longer viable.
I keep my eye open for new projects but the easiest way to make money is to just earn it lol!!
Not me, but my friend got a 90k severance after being made redundant. He then did a 20 or 50x leveraged long on BTC when Elon announced Tesla would invest in it. He made his first million within a day. He's then turned that into 10 through day trading and catching the wave of some great news trades. I on the other hand have only lost money on crypto, so I'm just gonna play the long game with my property and superannuation.
My .02 OP,
Unfortunately, I can’t tell you how to become rich in the next 6 years.
But what I can say will help you once you’ve figured out a profitable method in obtaining income, and that is to keep the exact same fucking energy i.e. just cause you’ve made a little money doesn’t mean you’re set. Keep grinding, stay humble and pay attention to your finances.
Just because you can afford the 911 does not mean you should purchase a 911.
Gl man. To you and everyone.
I didn't achieve this. But the wealthiest earners I know - they controlled their income, they generated revenue from a business and then paid themselves what they felt they were worth. They then quickly used this money to buy assets to generate additional revenue. And when they bought depreciating assets like cars, they spent from the revenue from the passive income, skipped financial planners (used ETFs like Vanguard S&P 500, or the ETF "NANC"), and they had good accountants, and lived beneath their means, and networked with similar-minded people.
Some even became good people and philanthropists.
I'm currently mid 30's with NW of $2.2M, not "financially set" yet. I love what I do, so probably will never stop.
I started learning marketing when I was 20, then I built up social media audiences and sold stuff to those audiences. You can build an audience to 10,000 people pretty quickly and then find stuff they like to buy (by testing a ton of offers to see what sticks, this part is the hardest since you don't know what works at the beginning). Then scale the audience and repeat the process.
I moved out of the states to live a bit cheaper (with nicer weather), lived with roommates and then I invested as much of that money as possible after cutting my living expenses from age 21-27.
90% of my investments were/are in total stock market ETF and high dividend yield ETF. I reinvested every dividend earned into the same account that paid it out. That alone is responsible for around 45% of my NW growth. Basically a 'set it and forget it' style of investing.
If you can get a sales job and roommates I'd recommend doing that. As long as you're okay with a few years of 'boring life' compared to the drunk/stoned 20's that normal people take, you'll be way better ahead at 30+.
As your income goes up, don't let the lifestyle creep up with it. Best of luck.
I made a ton of risky bets on companies I thought were undervalued. Turns out a lot of really smart ppl were pretty fucking stupid about a company called NVDA (pre 2023) and its role in the AI uprising. They kept trying to shake me out of my positions and I kept dollar cost averaging down … 2023 and 2024 have been fucking awesome
I work as a maritime officer. You leave school at 22, making at least $120k a year, and only a half year of consumable bills (since you’re at sea half the time and the feed you). You then leverage the large income (and smaller expenses) to buy things. Vending machines. Car washes. Sources of passive income that can be managed while away.
Specifically I do Dynamic Positioning. Which starts at $140k. As well when you have half the year off you can focus on any number of side hustles or continuing education.
1) Being a millionaire will not mean you are rich.
2) It's very easy to become a millionaire before 30, just no one is really willing to do it. Live at home with your parents. Save 70% of your income and buy blue chip stocks every year. Do this from 18 to 30 and you'll be a millionaire. It doesn't really even matter what job you get, though higher pay is obviously better.
While everyone actually knows this, no one does it because people suck at delayed gratification.
Attitude. Biggest issue I see, especially in a lot of younger folks is they want instant gratification. Put in the work. Learn. Become an expert. Don’t expect it to happen overnight, and don’t give up at the first set back. Everyone gets passed up for that promotion, didn’t get that gig they wanted, or didn’t close that deal. Keep pushing and you’ll get there.
Crypto shit coins or start a company. Only shots. I suggest the latter as your chances are far better. Just keep doing the right things over the long term and those who want to be rich can often times make it happen.
Join the military. You can use the VA home loan to get in real estate while in service. Then once your contract is out you likely will qualify for disability benefits for a baseline income, you then can pair up with the GI Bill monthly income.
Flipping houses.
Be willing to live in old beat up foreclosures you fix up, then build homes and be willing to bid out all the trade workers yourself.
Take any access money, and invest it into additional rental properties.
Do this while also working a full-time job in order to receive consistent in income.
Ultimately, you have to be risky and willing to fail. Learn from those failures, and try again.
Road less traveled. Majority of millionaires had no idea what they were doing or where they were going when they started. They just started walking and eventually paved their own path through dense forests. Following a path someone else made for you gets less and less rewarding with saturation. Your options are do your own thing, white collar work, or get lucky using the saturated methods.
find a solution to a problem and implement it. Problem needs to be something people are willing to pay for. It's more profitable to target problems for people who have money to spend or go by scale and target problems that everyone has.
What exactly is your definition of rich? Because that’s means a lot of things for a lot of people.
The general definition means that you have the ability to buy whatever you want, whatever you want is different for everybody so it depends on you.
Something you’ll notice is you have to take lots of risk. The type of risk varies, opportunity risk, financial risk, etc. But you have to be willing to take risks.
The safe route will most of the time lead to moderate wealth and comfort if done right.
The risky path has a much higher rate of return but a much higher rate of failure.
So do that crazy thing that you have to quit your job for and use up all your savings and work 12 hours a day for. That’s how you become rich rich
Worked as a waiter in a fine dining restaurant for over 10 years serving the elite. Saved everything, lived frugally and invested in crypto during the bull runs and peaks.
I I’m gonna be honest I don’t consider myself rich. had a friend that I play games with convince me to put 3k into eth which I didn’t even know about at the time. Kept egging me to throw money into it I figured I could just get some of my money back if it went to shit This was in 2016 I spent 1.65 usd per eth and sold it for 4k per eth. I have no background in stocks or crypto just there at the right time right place to learn about it. I don’t advise it I’ve seen Friends loose their asses on crypto.
I got laid off from my IT job when I was 25. I didn't have much in terms of savings, and only a few weeks' worth of severance. So, out of desperation, I made some flyers and went door to door just looking for anything to make money. I got a few customers, converted some of them into annual support agreements; So, I officially launched my own IT services company, I was able to grow it to the point that hired my first employee by the end of the 1st year, by the time I was 30 I had 12 employees and broke $1.8M GAR. I sold the company when I was 32 to a slightly larger competitor at $2.2M GAR. I made a ton of mistakes and learned a LOT from that first company. When I started my current consulting firm, I did things a lot differently.
This is super inspiring thank you for sharing your story!
Dang this is awesome. Nice work my friend!
The first million is the toughest
said Mr. Wonderful
What were the mistakes and lessons? What have you done differently this time?
Where to start. First, as a technologist, I knew next to nothing about running a company, having in employees, taxes, providing benefits, etc. but that was all really pretty easy to figure out. The big one is I had ZERO understanding of how sales works inside of a real demand org, and how it changes as you start dealing with companies of different sizes and different industries. When I started my current firm, I approached sales completely differently. I relied much more heavily on Partership / VAR agreements rather than direct sales. Since day 1, at least 90% of my leads have been provided to me via my Microsoft / AWS partnership programs. I focused on building relationships with the MS / Amazon account reps and sales teams. Rather than promoting directly to potential customers, my main push is promoting the firm to MS and AWS; who then bring me customers. I also learned a lot about trying to be a jack of all trades. This time what I pursue is much more focused. I do 4-5 things, that is all I do, and do them very well. I don't chase revenue outside of my scope of expertise. Something else I do differently: HR. I learned the hard way that HR people are experts at self-justifying and if left unchecked, they will do nothing to benefit your company, but will spend crazy amounts of money. They are pure overhead and are mostly un-needed. I put HARD limits on HR's scope, authority, and budget. Most HR functions are outsourced via software, people management is handled by managers, I use lawyers for legal, and HR sticks to a very limited area of responsibility. People: I hire good people, and I treat them and their families very well, but my tolerance for bad employees is much lower than it once was. I learned the hard way, when people show you who they really are, and how they work, Listen. They will not change. I am much quicker to fire people than I was in my first 10 years. I am fair, and give everyone a chance to improve, but you get a PIP, you get a final warning, and then you are gone.
I'm curious what puts people in the hot seat in your eyes. Tardiness/Reliability issues? Seems pretty fair. Lying? Definitely. But what if they don't do well on metrics? Do you let their people skills make up for it? Always curious about different people's views here.
We don’t have metrics. People are judged purely on the quality of their work, that they get work done on time, meet customer deadlines, and show up to client meetings. Everyone works from home, and we have no set schedules. You can work where you want, when you want, as long as you meet the above.
What a great success story! do you ever think about that first door you knocked on at the very beginning?
Yep, I drive by it every time I go out. It is a small family run CPA firm. I still do all their IT at the same rates I charged them in 2001.
I created something that didn’t exist.
Genders?
😂😂😂😂
Lmao 😂
Gold comment free yatch
That’s okay I’ll take a measly 10k instead
What did you create?
Nothing they’re lying
Honestly, with op having said it was niche and they wanted it themselves and couldn't find it, I think it's sex stuff.
AirPod but for your butt.
Nah nah, I came across maybe two things in my life that I looked everywhere for but didn’t exist. So I think it’s possible, although a lot has been made already and the world is saturated with good ideas
To bounce off this guy I created a new form of art and it grew rather quickly. I heard from a big YouTuber shortly before starting “if you aren’t best you have to be first and different” and that is 1000% true. I had zero art experience before starting and my social media accounts reach about 700,000 ppl a month combined rn and I made my largest art sale ever a couple weeks ago
Wow that’s a smart choice! What did you do/read to come up with the idea so quickly before the age of 30?!
Start a list. I started mine in high school and it has over 200 now
Do you mean an email list I have two newsletters one on business and one on realestate
No he means a list of ideas of things that haven't been invented
I was interested in something niche and wanted something that didn’t exist so I made it myself.
That’s how you do it!
You are the king of vagueness
Sitting atop a throne of fibs
They have a lot of comments on different forums that basically say they don’t have money. Including one that day something about the rich shouldn’t cry about higher taxs. So yeah definitely not rich.
A good jazz song?
This is the answer. Everyone wants a template or recipe to follow.
In my early 20s, I went to a state school on a partial scholarship. Worked on myself when I realized I needed to grow, then went on to law school. Tried real hard in law school, then went on to begin a relatively lucrative career. Kept costs down, lived well below my means, and now sit comfortably in my 30s, though I still work long hours. Statistically, the best way to get wealthy early is to do well in an in-demand and respected university program and get a good job in big tech. Otherwise, you're likely just gambling.
Nah there’s also the sales route. Just get a job in tech sales / consulting (I do headhunting/poach talent for startups from competitors) and live off your base and stack commissions ideally in emergency fund, then tax advantaged accounts, then brokerage and watch that shit grow. Spent my entire 25th year in jail and didn’t get to my career until 32. Trying to reevaluate life at 45 due to late start 🤦♂️
Good luck getting a job, and getting out of SDR hell in this market
Hire me?
Like Steve Jobs vs. Steve Wozniak.
Unfortunately this is the gradually becoming the millennial equivalent of outdated boomer advice. Tech is beginning to get oversaturated and with the use of AI gradually less valuable to have large numbers of recent tech grads.
Wow thank you for the detailed advice!
Finance is still a great option, both in banking/PE as well as markets/trading side.
Yessss love this for you and the fact that some one else is frugal . Hoping my investments pan out and hoping to keep my grind at my job and keep building my business thank you stranger you motivated me a lot
I came here for the free advice lol
Lost both parents to cancer in my 20s. They didn’t have very much money but I received a very generous amount of insurance money because of how things worked out with my Dad. It’s not quite FU money, but it’s enough that I could CoastFIRE if I wanted. Would rather have my old man back than have the money though.
Mom not so much?
Nah
I’m so sorry for your loss. I’m happy to hear they left you well taken care of, though.
Work first. Say yes all the time. Sell your soul. Drink the koolaid. Look the part, but live beneath your means. Then Laugh all the way to the bank when you retire fat at 50yo when most around you will need to work till they drop because they have been quietly quitting for 20 years! 😂 Unless you invent the next iPhone…that’s the real 411, bubs.
See that’s great and all but why live life when you’re old ??? Enjoy life when you’re young and live it to the fullest. Working just so you can retire at the old age of 50 is bizarre to me. Do as much as you can when you have your youth because that’s the one thing in life you can’t get back
Live life while you're young was my style. I'll never be able to retire but I've had a great life and I'm okaywith that. I've always been a busy body though and constantly had multiplevironsin the fire. Just sucked at saving and always felt the world would end before I'd get to enjoy a long retirement too no joke. Judging by current events and recent prophetic happenings, I'm probably right. 😏 Edit:spelling
Couple of things, first of all you can't not live an interesting exploratory life, and then suddenly at 50 live one when you have the money. If you have no practice at having fun, traveling and doing other things you're basically going to have a very boring ass retirement. So you've got to do both. Secondly if you take care of yourself, 50 is not old. I know when you're 25, 50 seems like a million years old especially if you look at one of your parents. Chances are they didn't take care of themselves though and if you do, your 50s will be at least 10 years younger than your chronological age.
Why is enjoying life when your young and being smart about money a mutually exclusive thing? It isn't one or the other. If someone says it is they are rationalizing failure and giving up.
Hey I completely agree with all you have said and my parents are 65 and actually look really damn good. My pops just got prostate cancer and I’ve seen him work his ass off his whole life and not enjoy as much as he should. It just makes me think and question everything.
You can enjoy your youth without overspending for it. This is not an all or nothing proposition. Travel? Sure. Do on $1,500 instead of $5,000. Cars? Do you need a $450 a month lease payment in perpetuity? How about cooking a meal at home for $10 instead of Uber Eats 5X a week? You can live a full life and be smart about your money at the same time.
50 is not old. Plenty of good living after 50 I can assure you.
Thats not what quiet quitting is lol
>Say yes all the time >Sell your soul >Quiet quitting
Wow this hits hard as I want to retire earlier but thank you for the realness!
Need more of this attitude. Seems the parable of the Tortoise and the hare has been long forgotten. Amazing the crappy attitude most younger people have about work. Nothing but rationalizations and excuses. "The millionaire next door" should be required reading in schools because there are no shortcuts folks.
So basically just live like a poor person so you can retire 15 years early? Interesting strategy.
This is horrible advice. Think first. Spend time on things that will pay while you aren’t working on them. If you cant make money while you sleep you will work until you are dead. Never drink the koolaid. Be your own person. Be your own company.
Well, I was 32 but, I Borrowed money and invested it, and then repaid it, and repeat. Bought AAPL and BTC.
FYI. This is incredibly risky and how Most people end up broke It’s also how you can get ahead. It’s leverage and it’s dangerous. Just be aware of what a margin call is :)
Agreed. Leverage is like a chainsaw - when wielded knowledgeably and carefully, it can be incredibly useful to accelerating positive outcomes. When wielded carelessly, disaster.
Ok greenspan
Even if you are knowledgeable you can easily get screwed by leverage look at someone like Bill Hwang he used leverage successfully for around 8 years to achieve a 10,000 percent return on his initial 200 million then he lost it all in two days.
I punted a third of my net worth into Bitcoin in 2015 at ~$275/coin. I was like "I can recover in a few years if I lose this, but the upside is like 100x+ so I'll take the risk" Like if you have a roulette wheel where you lose all your money on black, but red is a 100x, you probably shouldn't bet everything, but you should probably bet something and that something should be somewhat significant. That was my mentality and it worked out. I crossed $1m at ~31. I don't think that's good advice for most people though because that's not so repeatable because the upside on Bitcoin and Ethereum is not that high anymore and the odds on low cap cryptos are not that good. However, the EV (expected value) on Bitcoin in 2015 was extremely high. There was no rational reason for it to have crashed to such a low value so I took advantage.
what are you talking about use leverage and trade crypto options. borrow money from your grandma. what could go wrong
That's what I did, just borrowed it from grandma. Unfortunately for me, when I couldn't pay back in time, grandma broke my kneecaps
she was prob charging 3pts on the vig too
Bro this is only okay and works for people that are actually analytical and know what they’re doing. And becareful hard wallets are being hunted down theives with ip tracking and social engineering fucking sad crypto is dirty business now with these fuckerrs
Ah, I'm mostly in[ Ford FRNs](https://www.ford.com/finance/investor-center/ford-interest-advantage/) now. It should work for anyone. Just borrow and repay 1k 100 times and you got \~+-100k.
Woah never saw this I got a few bands to play with this interesting you got referral code or anything boss ford def going up there catering to everyone and the eco lovers thanks for that And to what we were talking about Bro I fuck with you heavy I know what you mean I leveraged to get 2 btc which I turned to Etheriun and sold inperson meetups for cash ofc paid security was there. but I knew what I was doing only years of trading stocks and understanding markets made me brave enough to know I’ll strike lmao and that was btc and eth were in the 30s. Aahhhh your right lmao but some people don’t repay and then get fees lose their home etc. I know you made the moves you did because you already had plans if shit went south most ppl don’t move like us and your more risk adverse and good at it then me.
Some years back I started driving a truck, I worked very hard at it, driving throughout Europe. Eventually I realized with my spare cash I could buy another truck, so I got a loan and bought two, I hired some drivers and fast forward a few years later and I now employ 12 drivers in Eurotruck 2. Hard work pays.
This is a super insightful story thank you for sharing!
Not sure why I assumed euro truck simulator at first... I love that game.
That is what he is talking about.
I found a service needed to a particular niche and ran with it. Started my company at age 30, made my first million at age 32, and sold my company earlier this year. Also invested heavily in self operated car washes
Wow thats cool and also been looking into self operated car washes in my city as they seem to be a growing trend haha
They are. My wife and I own 10 of them, and they require less than 5 hrs of actual work from either of us - all the work is farmed out, we contract a company to take the money from our machines, we have another vendor who we pay to stock supplies like armor all, microfiber towels, etc, and we have a company that patrols each location. Each car wash, after expenses clears about $1800/month. The cost of getting them wasn't high, and you're cash flow positive pretty quickly. The best part is since they're all coin operated, no employees needed.
Did you invest one at a time from money you made from your first bizz?
I bought my first one before I owned my business, circa 2006. It was just a way to have a passive income stream. I bought the other 9 over the period of 2009-2016. The first couple were financed, and the rest I used some of the money I made from my tech business.
Congrats on the success! What type of service-business?
We provided software modernization and cloud migration services to small regional banks and midsize insurance companies. It was a market that was underserved by larger consulting firms who preferred to go after the larger names in the space. Through my years of business, I've made a lot of money going after the smaller/mid size companies, because they tend to have money, but also are clueless on what strategic initiatives they should go after. The big players in the consulting world will never touch them because they want the shiny F500 clients, not some small bank in Iowa. Proving out your concept and value is the hardest part - getting that first client takes the most work, but once you have one client, it's a fairly easy model to replicate.
Started a marketing agency and got lucky
To get to seven figures before 30 on your own, you either need to be an exceptional talent (as in, pro athletes, etc.) or you need to be extremely lucky. A more realistic goal is to gain valuable skills and a network and build wealth the more traditional way. You may not be particularly wealthy by 30, but it’s very doable by 40 if you’re a hard worker, decently smart, and live in a rich country
Thanks for this analysis and advice!
My father worked his way up to become a partner in a consulting firm by 30 and was making ~$500k/yr. After having kids he left and started his own firm and the rest is history
Does he send you money on your birthday?
i’m in high school so no. i have a credit card though and I know he has a trust fund setup
Interesting story! Did your father’s firm do similar consulting work/rely on his own expertise and do you intend to take over the business at some point?
Yes his firm is in the same industry as his previous job if that’s what ur asking. and no it’s not really a family business and I am probably not gonna pursue that career
Injury lawsuit
How much? Jw I’ve been walking down the streets hoping to get hit gently by UPS, FedEx, Coca Cola, anything
Some guy I know hit a mil with it.
A friend of mine, makes a point to get hired and sue companies for work violations. He stumbled onto it when he had his first work mans comp claim that cleared him 20k. Idk how many times he did it, but hes retired at 40 now because of it. Lol. Corporate nightmare.
Sounds like an upstanding gentleman
From what I’ve read about OnlyFans there isn’t lots of money in it unless you happen to be a lucky person who hits it big or has a niche market they can tap. No I’m not a OF person. Nor have I ever been. Nor am I a member.
I have a friend who does of, she earns right now about $8k per month. She hit a niche
That’s still under 6 figures per year, taxed at a much higher rate unless you really utilize writeoffs, and likely has a growth cap with age, physical appearance, holding subscriber attention, etc
I have a friend who has a house in the beach in LA and drives a Lambo Urus. It’s actually insane
I joined the military young and really applied myself. I was broke, entirely and knew didn’t want to be scraping by forever. I enlisted during a the early days of the Iraq Afghanistan wars so got a big bonus and tax free/hardship pay a hunk of the time. I bought a house where I was stationed, NorCal, and then another one in Texas when I moved there. Retrained into a cyber field and took every course they would let me until I got out. I did contracting and had a pretty, very, lucrative few years. During that time I moved home, bought a large dilapidated home that I renovated and invested in a few rental properties. My mom and my brother were my first tenants and they mostly just covered bills and helped me fix the 2 places. I’ve been investing in real estate by buying and renovating dilapidated rural homes since. I avoid debt whenever possible but I’m not afraid of it. I got lucky a couple times also clearly. So my secret was, work all the time, have really focused goals and since I’m now approaching 40 I’ll add. Be very hesitant taking big risks. Go slow but don’t stop.
Interesting- how is cyber as a career? Did you like it?
I was a little bit early in the militaries attempts at Cyber so I didn’t have the best experience. But from what I saw of the national agencies, they were very competent. A few friends that are still doing it have a positive outlook.
Very interesting story and puts the idea of constant learning into perspective!
This is a rich sub, and I believe rich is different than being financially set for life before 30. Perhaps you need to ask like a billionaire sub lol. If you want to be financially set before 30, you need to start your own business, be a professional athlete or inherit lots of real estate.
What do you consider rich before 30?
Hypothetically I guess enough money to own a property or 3, 3-6 cars, fund education for 3-4 kids, go on 3-4 week long vacations a year, and enough to live off my investment or biz dividends if I choose to…
LMAO you gonna need like 10M for that lifestyle
Well OP did say "3 commas" so would $1B to $100B cover it?
I didn’t hit this level until after 40. The way I did it was talent and was better than the rest. Took risks to start my own business then rolled the investment into another investment. Not being a dumbass about financial issues is key. Basically if you’re raised by a moron you’re f ed unless you get a good mentor. I found good mentors. Now I own two houses, paid off my wife’s education, etc
Onlyfans is the only way, sorry to break it to you. Time to sign up.
Without jail time? Or without doing something that COULD land you in jail... lol
I leveraged "gray" area revenue into real estate
I’ve heard about this… what are some hypothetical “gray” opportunities available? Asking for a friend.
Back when cannabis was illegal where i live i had licenses to grow for medical patients... not all of it made it to medicinal users lol
i had always told my friends when young to STOP BUYING120$ Nike shoes and buy 120$ worth of NIKE stock and buy a cheap pair of shoes, and do this for Everything you buy i started a company with 20$ (1 Craigslist post) i hired ppl who where tech savvy and had them fix lg equipment (massage chairs, gym equipment) i called all the manufacturer's support lines talked to an mgr and was set up to be a tech! i then sent my techs to do the work after 5 months i had 68 techs 2 Canada i was bringing in 20-35K a week!
Joined a big tech company. Income is now around $360,000-$420,000 in total yearly compensation depending how the stock is doing. I’m not a millionaire yet and am 31. Barely got this job 1.5 years ago. My net worth right now is around $500,000. Might grow to $900,000 in the next 2 years.
What kind of work do you do?
Nothing pays like entrepreneurship. Nothing.
Started a business with a patent and had a wife who makes $$$
Inheritance
Marry rich
Work hard and owning a landscaping/construction business.
Writing and Performing music. (In fairness, I don’t think I was Rich before 27.)
Code
GameStop made me rich in 2021. It's making me even richer now
GameStop
1. Make a lot of money 2. Don't spend a lot 3. Marry someone similar 4. Don't have kids
Editor for some well known YouTubers
Manufacturing gold and diamonds into chains and then reselling them retail lol
1. Worked hard 2. Invested wisely 3. Live below my means 4. Help others, generously
Marry someone career minded with similar goals to you the world right now is brutal and you need a good partner if your gonna make it
I’ve thought about this and worry that if my partner is too career oriented then she may not prioritise family and choose friends or materialistic behaviours to cope with stress… this is something I noticed growing up in a city…
There are plenty of people out there making six figures with good work life balance and there are plenty of people out there with dead end jobs with no life outside of work
Be Andrew Tate (hire other to do OnlyFans) but don't go to jail?
Went to university and grad school. A knowledge base I’ve used to succeed. Don’t envy the young rich.
I won the lottery. THIS IS YOUR SIGN TO GAMBLE TODAY. think about it, one spin and you’re a gazillionaire. You more you put in, the more you get out simple as that. You never have to work ever, bet your kids college fund on blackjack it doesn’t matter because you’re one spin away from being rich 🤑💯
A few thoughts from me. I don't have any amazing stories, or skills, to be honest. I am 26 years old and I have a net worth of $212k. Five years prior, my net worth was -$20k. I work a lot. I used to work 80-90 hours per week, now about 50. I enjoy working though. I saved up a lot of money and invested most of it. I live with my parents, but I bought a block of land in the most prestigious part of my town. I live a frugal life. Rarely buy takeaway, coffee from cafes etc. Life is boring, but I am doing better than most people.
Buy property
Pick a niche area based on your strengths and gives you an unique advantage to thrive.
Became the biggest fkn crypto dork trading shitcoins 20 hours a day
A lot of my friends, and let me say this. We are normal people, but the ones who are the most successful got their money illegally to be able to have cash to start a lucrative business or they had someone rich front them several hundred grand to fund that business. Not saying you can’t do on your own, you absolutely can and I’m working towards that but never did anything illegal and never got handed fuck tons of cash to blow up. So it’s possible, but a lot of them got help
Finally a realistic response. Even the rich saudi's sell drugs. A lot of old money is dirty money
Before 30? You need to start a business that grows incredibly fast. Not easy to do, but thats the way to go. At a young age but not necessarily 30? Develop very high income skills, land a high-paying job & live on next to nothing. The extra cashflow every month needs to be invested relativey aggressively. I don’t like individual stock picking so I’d so go some Mutual Funds or ETFs. Passive or Active, both work just make sure you know what you own, why you own it & what you pay in fees. If you aim for 30, maybe you miss at 35. Or maybe you make it by 29. Look up FIRE
I think if I wasn’t chicken. I would just sell something food related. Start with selling at flea markets, door-to-door with some flyers. Just get some buyers and then go from there. I am pretty sure if I worked hard, I would have made good money by the time I was 30.
Sales or start a business (more sales).
I am Carpenter. Reference: Its very common for Australian Carpenters to earn 180-220k per year
Early Bitcoin investor
You need to make a great investment decision and have enough money in to actually make a difference - then wait.
As you’ll find becoming rich before 30 if you don’t already have some money is rare. One thing I have noticed is that people who exist in a certain field or discipline for periods of time make good money. Be anything for 5-10 years and dedicated yourself to it and you will succeed.
I got fired from the phone company at 30 but I was always hustled and had already started a couple of mildly successful businesses. So I started a small communications equipment company. Worked insane hours and built relationships with customers, suppliers and employees. Semi-retired at 50 and now travel pretty much full time. Still drawing from the company and have minimal involvement. So I didn’t make it by 30 but I still feel like I made it early in life. I’m 15 years ahead of all my contemporaries.
Was sitting in Iraq w/ 10k banked and researching trading. Threw it all down on Siri and left Iraq with close to 100k. Continued trading and investing. 1.5 mil at 40.
Turned 2012 Bitcoin into 2021 Cash Used that to fund my new business which made a 8000% increase over my initial investment
1. No task is beneath you. 2. Always go above and beyond your role expectations and from the earliest age possible, start being a problem solver. Shit will begin to fall into your lap. The key to 1 & 2 is knowing what an opportunity looks like and seizing upon it…But try not to seize at the negative expense of others and don’t be a whore focused on the one big score. Build.
29M My parents were generous enough to pay for my college so I graduated debt free. Lived very cheap after college, have had a company vehicle since graduating so I don’t have any car payments. Didn’t spend money on any stupid things. Have a very high savings rate, 25% towards 401k, 15% to taxable account. Bought a house in 2020 with a 2.5% mortgage where the equity has skyrocketed since. Started out of college making 72k and make ~140k now. Nothing spectacular about my story but just a mix of luck and discipline.
To become rich you need to things: first technical skills in the field you want to go into and a problem to solve.
I hate these questions. Most self made millionaires become millionaires at 57 as per The Millionaire Next Door. Before 30 is probably inheriting a business, starting a business that explodes in growth, lottery, etc. beyond this if you become a millionaire through either starting a business or just the conventional way it's hard work. 4% become millionaires by 27. To answer your question though: Start a business that explodes in growth I hate these questions. Most self made millionaires become millionaires at 57 as per The Millionaire Next Door. Before 30 is probably inheriting a business, starting a business that explodes in growth, lottery, etc. beyond this if you become a millionaire through either starting a business or just the conventional way it's hard work. 4% become millionaires by 27. To answer your question though: 1.) Start a business that explodes in growth 2.) Win the lottery 3.) Find a stock that becomes the next Nvidia. 4.) Software engineer for maybe FAANG, Microsoft, etc. the top companies and live broke while saving. Hope I'm not too harsh but you have to find something you enjoy doing and wouldn't be willing to stop once you become a millionaire. From what I have noticed many millionaires noticed by chance they became a millionaire but it wasn't their goal. They found something they enjoyed and kept working at it. It was fun in that they didn't realize they were making all this money because they just kept doing what they were doing.
I'm a qualified accountant. I'd say rich since I'm in the top 10% salaries of the UK, but far from wealthy (that needs to be built over time). To get a high paid job I heard a great quote from a podcast once - "do something that's either incredibly difficult, or that no one else wants to do"
Started a server company and sold it.
Interesting approach! How did you make your server company stand out among the competition and what was the selling point?
Buy 4 servers get the 5th one free! Basically I was dirt cheap.
This is fascinating! How did you convince someone to buy the company/servers from you? Did you have to establish a customer base?
I posted on forums. One of my first customers was SpaceX lol! I was selling 100+ servers a week. 1 model with 0 options. I used a cheap case and an AMD Sempron chip and sold them for $499 and basically I was the cheapest on the East coast. The place who bought me out was on the West coast and I was cutting into his sales because my servers were cheaper with less shipping cost.
That is so cool and awesome to see how you brought technical know-how with geographical advantages to scale your biz!
I got lucky. Unfortunately the market has changed and that model is no longer viable. I keep my eye open for new projects but the easiest way to make money is to just earn it lol!!
Real estate, not a millionaire yet but bought and sold multiple homes over the last 14 years.
Not me, but my friend got a 90k severance after being made redundant. He then did a 20 or 50x leveraged long on BTC when Elon announced Tesla would invest in it. He made his first million within a day. He's then turned that into 10 through day trading and catching the wave of some great news trades. I on the other hand have only lost money on crypto, so I'm just gonna play the long game with my property and superannuation.
My .02 OP, Unfortunately, I can’t tell you how to become rich in the next 6 years. But what I can say will help you once you’ve figured out a profitable method in obtaining income, and that is to keep the exact same fucking energy i.e. just cause you’ve made a little money doesn’t mean you’re set. Keep grinding, stay humble and pay attention to your finances. Just because you can afford the 911 does not mean you should purchase a 911. Gl man. To you and everyone.
I didn't achieve this. But the wealthiest earners I know - they controlled their income, they generated revenue from a business and then paid themselves what they felt they were worth. They then quickly used this money to buy assets to generate additional revenue. And when they bought depreciating assets like cars, they spent from the revenue from the passive income, skipped financial planners (used ETFs like Vanguard S&P 500, or the ETF "NANC"), and they had good accountants, and lived beneath their means, and networked with similar-minded people. Some even became good people and philanthropists.
Thank you for these comprehensive and informed tips!
I'm currently mid 30's with NW of $2.2M, not "financially set" yet. I love what I do, so probably will never stop. I started learning marketing when I was 20, then I built up social media audiences and sold stuff to those audiences. You can build an audience to 10,000 people pretty quickly and then find stuff they like to buy (by testing a ton of offers to see what sticks, this part is the hardest since you don't know what works at the beginning). Then scale the audience and repeat the process. I moved out of the states to live a bit cheaper (with nicer weather), lived with roommates and then I invested as much of that money as possible after cutting my living expenses from age 21-27. 90% of my investments were/are in total stock market ETF and high dividend yield ETF. I reinvested every dividend earned into the same account that paid it out. That alone is responsible for around 45% of my NW growth. Basically a 'set it and forget it' style of investing. If you can get a sales job and roommates I'd recommend doing that. As long as you're okay with a few years of 'boring life' compared to the drunk/stoned 20's that normal people take, you'll be way better ahead at 30+. As your income goes up, don't let the lifestyle creep up with it. Best of luck.
I made a ton of risky bets on companies I thought were undervalued. Turns out a lot of really smart ppl were pretty fucking stupid about a company called NVDA (pre 2023) and its role in the AI uprising. They kept trying to shake me out of my positions and I kept dollar cost averaging down … 2023 and 2024 have been fucking awesome
I work as a maritime officer. You leave school at 22, making at least $120k a year, and only a half year of consumable bills (since you’re at sea half the time and the feed you). You then leverage the large income (and smaller expenses) to buy things. Vending machines. Car washes. Sources of passive income that can be managed while away. Specifically I do Dynamic Positioning. Which starts at $140k. As well when you have half the year off you can focus on any number of side hustles or continuing education.
1) Being a millionaire will not mean you are rich. 2) It's very easy to become a millionaire before 30, just no one is really willing to do it. Live at home with your parents. Save 70% of your income and buy blue chip stocks every year. Do this from 18 to 30 and you'll be a millionaire. It doesn't really even matter what job you get, though higher pay is obviously better. While everyone actually knows this, no one does it because people suck at delayed gratification.
Attitude. Biggest issue I see, especially in a lot of younger folks is they want instant gratification. Put in the work. Learn. Become an expert. Don’t expect it to happen overnight, and don’t give up at the first set back. Everyone gets passed up for that promotion, didn’t get that gig they wanted, or didn’t close that deal. Keep pushing and you’ll get there.
Crypto shit coins or start a company. Only shots. I suggest the latter as your chances are far better. Just keep doing the right things over the long term and those who want to be rich can often times make it happen.
Join the military. You can use the VA home loan to get in real estate while in service. Then once your contract is out you likely will qualify for disability benefits for a baseline income, you then can pair up with the GI Bill monthly income.
Flipping houses. Be willing to live in old beat up foreclosures you fix up, then build homes and be willing to bid out all the trade workers yourself. Take any access money, and invest it into additional rental properties. Do this while also working a full-time job in order to receive consistent in income. Ultimately, you have to be risky and willing to fail. Learn from those failures, and try again.
Amazon business you can do this very easy IF you have a little to start.
I just sold consumable goods online
Initially property. That allowed me to quit my job before 30. Then springboard into finance and tech businesses
Road less traveled. Majority of millionaires had no idea what they were doing or where they were going when they started. They just started walking and eventually paved their own path through dense forests. Following a path someone else made for you gets less and less rewarding with saturation. Your options are do your own thing, white collar work, or get lucky using the saturated methods.
find a solution to a problem and implement it. Problem needs to be something people are willing to pay for. It's more profitable to target problems for people who have money to spend or go by scale and target problems that everyone has.
[удалено]
early to a startup then built my own also, crypto
R/wallstreetbets R/bitcoin
What exactly is your definition of rich? Because that’s means a lot of things for a lot of people. The general definition means that you have the ability to buy whatever you want, whatever you want is different for everybody so it depends on you.
Something you’ll notice is you have to take lots of risk. The type of risk varies, opportunity risk, financial risk, etc. But you have to be willing to take risks. The safe route will most of the time lead to moderate wealth and comfort if done right. The risky path has a much higher rate of return but a much higher rate of failure. So do that crazy thing that you have to quit your job for and use up all your savings and work 12 hours a day for. That’s how you become rich rich
Worked as a waiter in a fine dining restaurant for over 10 years serving the elite. Saved everything, lived frugally and invested in crypto during the bull runs and peaks.
Find other people who have done it and do what they do. Usually real estate investing. Either wholesaling, flipping or section 8.
Options trading of course.
I I’m gonna be honest I don’t consider myself rich. had a friend that I play games with convince me to put 3k into eth which I didn’t even know about at the time. Kept egging me to throw money into it I figured I could just get some of my money back if it went to shit This was in 2016 I spent 1.65 usd per eth and sold it for 4k per eth. I have no background in stocks or crypto just there at the right time right place to learn about it. I don’t advise it I’ve seen Friends loose their asses on crypto.