I'm 19 now

w8t4u
w8t4u

I'm 19 now. How do I become a millionaire by the time I'm 30?
I'll graduate with a bachelor's in Mechanical engineering in 2 more years.
USA by the way, specifically NY.

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https://www.youtube.com/watch?v=qgVg4hv10YM
Methshot
Methshot

@w8t4u
Make $100k/year average net for 10 years and save all of it somehow without spending any money is the fastest and easiest way.

Alternatively you could just earn $250k/yr net for 4 years, or $500k/yr net for 2 years or $1million/yr in one year.

Or you could earn $10million in one month and then spend $9million of it, or you could keep it or you could earn $100million

But you will need very high quality kneepads

Carnalpleasure
Carnalpleasure

@Methshot

But you will need very high quality kneepads

kek

kizzmybutt
kizzmybutt

https://www.youtube.com/watch?v=qgVg4hv10YM

Just invest more money and youll reach 1 million in 11 years instead of 22.

PackManBrainlure
PackManBrainlure

@w8t4u

Invest in memecoins

FastChef
FastChef

have a high level of skill in what you do..
request adequate compensation for said skill.
offer goods and services on the side.
read about finance.
study the stock market.
become a CPA.
learn all about money and how it works.
invest in bonds.
hustle your fucking ass off son.

PurpleCharger
PurpleCharger

Real estate.

You can have your net worth of one mill, but you will owe 10 million+

GoogleCat
GoogleCat

@w8t4u
how do i become a millionaire in 12 years
buy bitcoin, serious.

Stark_Naked
Stark_Naked

@w8t4u
OP here, 27 btw

Raving_Cute
Raving_Cute

@w8t4u
Buy Monero.

I'm serious.

idontknow
idontknow

how do I even buy/sell bitcoin?

likme
likme

@GoogleCat
what's the best way to buy and sell bitcoin? is it legal if you're under 18?

Burnblaze
Burnblaze

@FastChef
hustle your fucking ass off son.

/thread

FastChef
FastChef

@w8t4u

Innovation, patent, sell patent.

Or, create tech, start company, have company be successful. There really is no shortcut dude.

New_Cliche
New_Cliche

@Raving_Cute
Why would anybody want monero?

GoogleCat
GoogleCat

@Methshot

Well done sir.

Methshot
Methshot

@FastChef
I've got a question about that. So say I create some program that provides some service/makes money. What then? Do you start trying to get employs and expand or do you contact someone in hopes of getting them to buy it?

Skullbone
Skullbone

@w8t4u
Save at least 50% of your income and invest in index funds from Vanguard.

Become good enough and start doing consulting jobs on the side.

Do enough consulting that you start your own engineering firm.

Make sure not to spend your money on stupid things just because people around you are.

girlDog
girlDog

@Skullbone
What index fund should I invest in with Vanguard? `8/M also engineering, want to save a lot to have a livable passive income by 30.

takes2long
takes2long

@girlDog
Don't make it complicated, just a simple S&P 500 should be fine.

I usually recommend students who just started investing to use robo-investment tools like WiseBanyan, Acorns, wealthfront, and betterment so they can make mistakes and learn about index funds/ETFs.

I think Acorns is free for all students and so is wisebanyan.

hairygrape
hairygrape

@takes2long
Thanks anondad. About the S&P 500: Do you think I should wait for a crash or just start investing now? I know that the past won't predict the future, but looking at the overall graph of S&P 500 makes it look like it's due for a crash. Is this unfounded nervousness?

TreeEater
TreeEater

@hairygrape
"Be fearful when other's are greedy, be greedy when other's are fearful"

It's always a good idea to start investing at a young age.

I say, why not invest at least 10 dollars every month? Just make sure you're not paying any commission. That way you start to learn about the stock market and not worry about loosing the 10 dollars you would have wasted on a cheeseburger.

Snarelure
Snarelure

@PurpleCharger
But then your net worth is not 1 million

Techpill
Techpill

@w8t4u
- Aim for the highest paying companies possible regardless of the job/industry. ExxonMobil comes to mind, but it's stupidly competitive to get the job and keep it.
- Job hop often to get the 15%+ "raises". Aim for the higher job positions, too.
- Invest in Vanguard ETFs as @Skullbone
says, and invest yesterday.
- Live like a miserly Jew while investing every spare shekel.
- Don't marry or have children.
- In fact, use your free time to start a second source of income.

Alternatively, you could steadily invest in an IRA for a few decades for less risk and more free time. You won't be a millionaire by 30, but you could comfortably retire at a later date.

Another option would be to go HAM and trade securities. But have fun losing money if you don't do your due diligence.

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