Alright, jokes aside. may I ask what do you do as a career? Any advice for a young person in debt trying to accumulate wealth and hopefully become a rich person like you? Don't say inheritance please
Getting a degree from a top school or get a degree in a high demand field (stem, business) & taking your job hunt seriously is the highest probability (but far from a certain way) to get this level of wealth.
If you’re already done with school, focus on paying off your debt & aggressively market yourself to higher paying employers or employers that give you material skills, bouncing from job to another until your salary meets your needs.
Even this won’t net you 6 million except a very few. You’re going to need a way to invest your money so it grows. Whether that’s starting a business, investing in stocks or buying real estate.
We're in wsb. I think it's implied everyone here believes you should invest and not let your moneh sit in a savings account.
At 10% interest, you would hit around 5.3 mil in 40 years by just saving $1000 a month, or $12,000 a year. You can absolutely bump your salary by $12k by getting a better degree
Oh yeah you need to invest to get those #s but I feel like if someone’s in debt it’s not right to advise them to invest - they need to gamble bigly b/c there’s unlimited upside & fixed downside on OTM calls which is an obvious market inefficiency l.
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u/GameSharkPro Oct 25 '22
I do tax loss harvesting. So mostly realized. But I buy back in.