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Those making $250,000/year+ How’d you do it? (self.asktrp)

submitted by Authier

My goal is to be making at least that much when I’m older, currently in college and would love to hear how the red pill helped you improve or just certain aspects you happened to have before it even existed.


[–]creating_my_life 199 points200 points  (28 children)

The parallel to the red pill is "put your own needs first", and "work your fucking ass off."

Increases in pay come from switching jobs to higher title and pay band. Sticking with the same company doesn't increase pay as much (in most all cases).

Be damn good at what you do.

Spend some percentage of your time (10% to 20%) internally marketing yourself and doing self-PR.

Pick and industry and field that pays well. (this one is often overlooked!)

Focus on your personal NET WORTH, not your INCOME.

Take care of your body physically and emotionally. Dress well. Be fun.

Read 48 Laws again.

The first moment you're passed over for ANY kind of promotion or increase in responsibility, leave the company. You're done there.

Work in Sales.

[–]needz 37 points38 points  (4 children)

Increases in pay come from switching jobs to higher title and pay band. Sticking with the same company doesn't increase pay as much (in most all cases)

In the few exceptions, if your relationship with you employer is okay, you can bring them a job offer from another company every 1-2 years and ask for a raise, but you've gotta be prepared to leave if they say no. I got myself a 30% raise this way. Will likely try again in a year.

[–]Speedracer1111 43 points44 points  (1 child)

Deleted to prevent doxing

[–]dongpal 8 points9 points  (0 children)

Women do this with men, men do this with jobs.

[–]oldslut 4 points5 points  (1 child)

yes, true. but a change of scenery can also be good for you. and, your boss may grow tired of this yearly meeting and start thinking of how much money he can save by a new hire.

[–]Mohune 1 point2 points  (0 children)

Not quite, to hire someone new and to integrate him can be costly(depending on the field). So this scenario is ok, I also apply it.

[–]NewBoomAction 23 points24 points  (0 children)

This man makes a lot of money.

Thank you for sharing. Saved.

[–]cptgoatsack 21 points22 points  (1 child)

The first moment you're passed over for ANY kind of promotion or increase in responsibility, leave the company. You're done there.

I like this one - just like you should deal with women when she's not giving up that ass.

[–]Senior Endorsedmax_peenor 17 points18 points  (11 children)

Focus on your personal NET WORTH

^ ding ding ding! Correct answer.

My personal yearly income is laughable, because there are these cocksuckers that always want to take half of it.

[–]markdumte 12 points13 points  (10 children)

I mean, you have to have an income to increase your net worth.

[–]Senior Endorsedmax_peenor 5 points6 points  (2 children)

No, you don't. You just need owning interest in entities that have income.

[–]markdumte 4 points5 points  (1 child)

OK, let me rephrase, you need income to obtain some substantial net worth.

Plus even if you don't have to pay income tax, you have to pay corporate or capital tax. They are usually lower but still substantial.

[–]UncleWarwick 4 points5 points  (0 children)

Said no one ever, I'm not going to make that extra dollar because I'm going to be taxed on it.

You might try tax avoidance strategies to optimize your tax burden, but ultimately they're a non-issue.

[–]MuhTriggersGuise 1 point2 points  (6 children)

Not if you already have a net worth.

[–]markdumte 2 points3 points  (5 children)

Sure, but I doubt someone asking how to make 250k already has a substantial net worth.

[–]MuhTriggersGuise 2 points3 points  (4 children)

Point being one should think of increasing their net worth, to accelerate their net worth growth.

[–]i_forget_my_userids 2 points3 points  (3 children)

How tautological.

[–]MuhTriggersGuise 3 points4 points  (2 children)

You really struggle with the difference between initial value, change, rate of change, and final value; don't you? I didn't say "start with a huge net worth to have a huge net worth". I first said having a net worth increases income, then I said increasing your net worth can increase your rate of change in net worth. It's not tautological and you're just thread shitting.

[–]8008bumbs 4 points5 points  (1 child)

agreed man. You have to have money to make money. More money = More income. Investing 101. Exponential growth of money.

[–]MuhTriggersGuise 0 points1 point  (0 children)

Yep, that's the key to real money. Focus on your net worth, not just your income. It's an important distinction.

[–]1walawalawa 3 points4 points  (0 children)

The first moment you're passed over for ANY kind of promotion or increase in responsibility, leave the company. You're done there.

Be smart about this. I have a niche skill but my boss has passed me over for positions because he's younger than me and less experienced.

He doesn't like confrontation so by passes me on important decisions but then comes to me when things go bad.

I've got a thing going and am respected by my peers and that keeps things in check...for now.

But he hates hates hates when I get industry recognition or special assignments---even though it brings money into the firm.

I'm actively looking but being choosey and after my time there and age i don't feel a need to jump ship.

When I was younger and had that...yes, I left at the earliest opportunity.

Be smart.

[–]MarmorEtSculptura 0 points1 point  (0 children)

I'm a physician, so I work in medicine. Trying to figure out how to apply some of this to me.

[–]kellykebab 0 points1 point  (3 children)

Focus on your personal NET WORTH, not your INCOME.

Why?

[–]Authier 1 points1 points [recovered]

A man who spent $5,000,000 vs a man who has $5,000,000. Something like that I assume.

[–]kellykebab 0 points1 point  (0 children)

Focus on what you're putting away more than what's coming in. That makes sense.

[–]NitricTV 0 points1 point  (0 children)

You can sell assets not income.

[–]LetsKeepLooking 0 points1 point  (0 children)

Solid advice

[–]1atticusfinch1973 50 points51 points  (6 children)

Whatever industry you choose, niche yourself. This means becoming the best at one aspect of it that few people focus on that is essential and people need. Even if it’s boring it will be very lucrative.

[–]NewBoomAction 13 points14 points  (4 children)

Blockchain, here I come!

[–]falklandislands123 1 points1 points [recovered]

Great to see another redpilled mEthhead. We should start a token together. "A decentralized, census-free network for the manosphere."

[–]EnthusiastGrade 1 points1 points [recovered]

There's actually a huge amount of business opportunity in blockchain right now, tbh. Field is growing like crazy and people who know what they're doing are making money hand over fist

[–]NewBoomAction 0 points1 point  (0 children)

Exactly. It's the birth of a new industry.

[–]circlingldn 0 points1 point  (0 children)

are people really this stupid, yes niche yourself, but your niche better be in demand

[–]Senior Endorsedmax_peenor 42 points43 points  (14 children)

Don't blow money on worthless shit when you are young. You are going to throw it all away some day anyway.

Avoid debt like it's the plague unless it is dischargeable and used for investment purposes (building your business/career). Most student loans are not dischargeable, so only use them if the eventual income makes paying them off easy. MD is usually a good example, but becoming a lawyer is not except for a small number of people.

You'll never get rich working your ass off to make other people rich. There better be something in it for you.

[–]ImYourMajesty 4 points5 points  (13 children)

What is the chance for a doctor to accomplish 250k + a year ?

[–]bitterconsultant 15 points16 points  (2 children)

23.8%

[–]ImYourMajesty 0 points1 point  (1 child)

Solid

[–]bluesnsouls 0 points1 point  (0 children)

He did the math

[–]bob13bob 4 points5 points  (2 children)

all of them .doctors make bank but they spend lots of time and money on education.

[–]1atticusfinch1973 1 point2 points  (1 child)

And have massive amounts of debt when they graduate school.

[–]rp_newdawn 1 point2 points  (0 children)

The truth hurts every time I’m reminded

[–][deleted] 4 points5 points  (2 children)

My ex works as a cardiologist and sometimes clears 400K a year.

[–]ImYourMajesty 2 points3 points  (1 child)

Cardiologist is my dream job. How many years did he study ?

[–][deleted] 2 points3 points  (0 children)

She*

I believe she studied twelve years. 4 years bachelor's (she got a degree in Biomed engineering as a back up in case she did not get into Med school). 4 years med school and 4 years residency.

[–]Senior Endorsedmax_peenor 1 point2 points  (0 children)

Yes, unless you get a shit-tier family practice mill.

[–]rp_newdawn 0 points1 point  (2 children)

Depends on where you are willing to work. I’m second year in IM residency, getting offers ranging from 180-340 without specialization currently.

[–]ImYourMajesty 0 points1 point  (1 child)

What about with specialization. And can you specialize whilst working. And what is I'M residency

[–]rp_newdawn 1 point2 points  (0 children)

Medschool is 4 years of debt. Residency is low pay 45-65k for 3-5 years. Fellowship (specialization) is delaying making good money to keep getting paid shit for another 2-4 years for greater payoff later. Variance is HUGE on pay. IM is internal medicine.

[–]MuhTriggersGuise 14 points15 points  (0 children)

Bust your ass at getting skilled at a high paying career. Live frugally and sock away money in investments. Wealth earns more wealth.

[–]UncleWarwick 14 points15 points  (19 children)

  • LURRNNNN how to talk to people. LURRNNN how to get people to like you. Merit only takes you so far. Equally or even less competent (to a degree) will take a backseat to "do I like you enough to hire you/promote you/work more with you?". If your foot is in the door, (i.e. in-person interview, working on the promotion), you've already passed the competence portion of things. So as long as you don't fuck that up in the next step, it comes down to "who do I like more?"

  • Did I say LURRNNN how to talk to people? Guy I know just financed his vacation home. Not through his 9-5. How? He talks to people. Knows who needs a position filled. Contacts with HR everywhere. "Hey, I'm sending XYZ your way for the ABC position." Hired? He nets a 5-10k finder bonus. He has no affiliation with any of these companies. He's not a headhunter. He just TALKS to people. Effort on his part? 10 minutes. If that. (Not including the years he's spent building his network, but if you're in any kind of corporate America, why aren't you doing the same?)

  • Major in something that is useful in a wide range of industries. Math, econ, finance. Stay away from anything else unless you're going to double major in it. CS is on the fence here, but that along with engineering will get you pigeon-holed into that category of people really fast. You're not going to have the same exposure to talk to people. For example, I talk with software devs, a lot. They talk with me, a lot. And that's where it stops there for them. On the other hand, I talk with at least 4 other departments on a daily/weekly basis. Who's getting more exposure? This guy. New position opens up? "Well this is a funky position, how are we going to fill it?" Who's going to get a look at first, the software dev that only does software dev, or me, who does a little bit of everything and has interacted with EVERYONE. (Hint: me)

  • The point above is that you want to be on the business side of things. There's two sides in business - revenue centers and cost center. Who makes the money? Whoever is in the revenue center. There will always be a ceiling in the cost center - you just have the chance to do a really good job and get paid decently well. If you're in the revenue center, you have the opportunity to make your company BOATLOADS of money, which you will get some kind of proportional benefit from. You're kind of fucked in this area straight out of college - you're a straight up cost center no matter what you do, but you want to angle yourself into the revenue center side of things. This will all make sense in 5 years. Trust me.

[–]rigbed 1 point2 points  (4 children)

How will this change if things get automated

[–]UncleWarwick 9 points10 points  (2 children)

That is the wrong question to be asking. (The answer is absolutely nothing)

Why do you care if things get automated? You’re not a burger flipper are you?

Make yourself indispensable.

[–]rigbed 0 points1 point  (1 child)

I’m gonna try to write a book on how to be indispensable in the upcoming future. ID be interested to get this sub’s opinions

[–]UncleWarwick 0 points1 point  (0 children)

Kick more ass than humanly possibly at what you do, and make everyone like you.

[–]Eulerbrah 0 points1 point  (0 children)

Thank you, uncle.

[–]herColdHand 0 points1 point  (11 children)

You’re 100% wrong on CS and engineering people being pigeonholed. It’s not hard to switch to another career because finance people know if you’ve done Cs or engineering you’re pretty smart and hard working. It’s not hard at all to teach an engineer how to do finance.

[–]UncleWarwick 0 points1 point  (10 children)

Found the CS major.

Yes a CS or engineer clearly has the mental ability to succeed. But you're facing an uphill battle aside from quant jobs. One, your network will naturally be different unless you put in the effort. Two, why would I hire an engineer, and take the time to teach him, over a finance grad who's maybe say part of the school's investment club, who's clearly shown more of an interest in this domain over the engineer. Answer - I wouldn't.

Your intrinsic ability only takes you so far. After that, it's how much do I like you and how much time do I want to invest in you. Off that bat, you're making my life harder even if you're equally capable.

[–]herColdHand 0 points1 point  (9 children)

Your overarching point makes zero sense though. Why is a career in finance better than a career in computer science? I’m graduating now and have two job offers paying $75k a year, and the job I’m taking is $12 a year in a high cost of living area.

[–]UncleWarwick 0 points1 point  (8 children)

My overarching point is to make yourself as broadly marketable as possible to fill whatever upward mobility position you can. By broadly I don't mean the same job at different companies, but different jobs at the same company.

You can make a good buck doing nothing but CS and eventually land in some kind of head of dev/IT role. Or open your own shop. And this argument becomes moot. I'm not hating on CS by any means, because you can do whatever you can talk your way into. I'm giving broadly applicable advice from my experiences.

Your CS/IT role will always be a cost center. You don't bring in new business or make money - you build whatever initiative we need built or keep our shit running. You're won't be at the forefront of the business, and that's where the money is made.

For example, I'm the one that's tackling and managing our internal and external facing business problems. I'm the one creating new ideas, "Hey, we need to do xyz." Then I pass that along to the devs where we say, "Hey, we need XYZ done. How do we do it?" Our devs aren't exposed to the business problems because they're WAY too busy tackling our dev problems. (Trust me, they're great, and we keep them busy as all hell)

So when it comes down to "we need someone to lead the business", the software dev isn't going to be considered. He's solved software dev problems. Someone like me has solved business problems.

Unless you're in a really small company, or startup where you have to wear many hats, and business problems and dev problems go hand in hand, then that's a different story. If you go anywhere bigger than really small, where there are clearly defined departments that perform specific functions, your exposure is going to be relegated to your department's function. Devs do dev shit and nothing else. I deal with everyone's shit.

Will you/can you make good money? Yes. We don't want our good devs to leave. Is there a ceiling on your potential earnings. Yes. Because, back to my thesis, you are not affecting the company's top line.

[–]herColdHand 0 points1 point  (7 children)

CS department is only a cost center in YOUR line of work. Of course at a bank or hedge fund they don’t value the IT guys. But what about companies that are entirely built on the basis of software? We aren’t treated like a cost center. How much money did they offer you out of college with a degree in accounting or whatever you majored in?

[–]UncleWarwick 0 points1 point  (5 children)

Yeah you are. They hide it better, but you are.

[–]herColdHand 0 points1 point  (4 children)

Answer the question. How much money are you actually making and how much can a new college grade expect with your degree?

[–]UncleWarwick 0 points1 point  (3 children)

More than enough and whatever they apply themselves to.

Kid, I'm trying to give you advice from what I've seen. Stop being so aggressive and defensive. I said you can make a good buck in CS, but your exposure is going to be completely different and generally on the back end of things. So take a chill pill.

[–]herColdHand 0 points1 point  (2 children)

So in another words, people can expect higher paying jobs with a degree in CS or engineering. Got it. Goodnight

[–]littleQT 0 points1 point  (0 children)

Guy’s experience sounds limited. Having worked in software, people with CS degrees have made a huge impact on how we do things and the movement of the company. Some of these folks speak all over the world and others are principal architects and directors. And those are just CS grads who chose to be engineers. That’s not the only option.

[–]TimPartendale 31 points32 points  (20 children)

Small business owner and I also work in healthcare. Still in my 20’s.

I came from an upper-middle class background and own a decent amount of stocks/savings.

Money definitely makes life better. I watch people struggle everyday and patients who can’t afford even sparing $3 for medications they NEED.

Money can also be used as a crutch. Keep up the work in the gym. I find the hierarchy to be: poor beta guys —> rich (oftentimes beta) guys —> guys that lift —> rich guys that lift.

My unsolicited advice for your 250k/year figure:

  • make your money work for you, ie investments such as real estate holdings or stocks. I personally avoid things like bitcoin and penny stocks, but I know people who have made fortunes through these avenues.

  • if you go to college, don’t major in a bullshit degree. If you haven’t gone to college? Well, college isn’t a requirement to becoming rich.

  • the more important your role on a larger scale... the more you’re paid. Likewise, management positions typically command more money.

  • you can make insane amounts of money in almost any profession.

  • job hop or move to high cost of living areas and live as frugally as possible while there.

  • if it were super easy to make 250k/year.. we all would have done it by now. You may struggle at first.

  • be wary of spending or partying away your wealth. Money is like calories... you need to balance what’s going in and out.

  • life isn’t fair.

[–]EsteraMC 1 points1 points [recovered]

Can you explain how real estate is better than stocks?

Also, why real estate when you just can buy REITs?

Also, why buy REITs when REITs are included in an index fund unless you are smarter than Wall Street and know which REITs are currently underpriced.

So basically - why bother with real estate?

[–]Bear-With-Bit 8 points9 points  (3 children)

RE > Stocks because nobody gives you a loan to buy stocks.

[–]Idunnowhy2 1 point2 points  (0 children)

Somebody is a Grant Cardone fan.

[–]EsteraMC 1 points1 points [recovered]

I see you. But you can always take a loan for RE and buy stocks instead.

[–]ForYourSorrows 0 points1 point  (0 children)

Lol what? Where? From a hard money lender? In what situation does a lender just sign you a check for property?

[–]ForYourSorrows 7 points8 points  (11 children)

Lol because real estate both appreciates and brings revenue through renting/leasing. I make a couple hundred bucks a month renting out a property and it’s appreciated about 17% over the last two years. Looking at it from a down payment perspective (what I put in) I’ve nearly doubled my money in two years.

[–]EsteraMC 1 points1 points [recovered]

Lol because real estate both appreciates and brings revenue through renting/leasing.

It doesn't always appreciate. It requires upkeep. Renting/leasing isn't magic income. What is the point if you need 30 years of renting to make back what you paid for real estate.

Stocks grow, appreciate and COMPOUND. Compounding interest is something real estate will never do. Stocks are more liquid and you can sell only a portion when you need.

[–]ForYourSorrows 0 points1 point  (9 children)

How does a stock compound? Share to share it goes up or down just like anything. If you’re buy more shares than yeah marginal profit increases but stocks don’t compound.

[–]EsteraMC 1 points1 points [recovered]

[–]ForYourSorrows 0 points1 point  (7 children)

Lol so dividends being reinvested into the stock.. that’s not exactly compounding in the traditional sense but ok.

[–]EsteraMC 1 points1 points [recovered]

Yes, it is compounding. Stocks compound. RE does not, it almost always makes more sense to buy stocks unless you know something the market does not.

[–]ForYourSorrows 0 points1 point  (5 children)

That isn’t even remotely true. If I buy a $300,000 house with 15% down that’s $45,000. If that house appreciates 10% and I sold it that means I’ll receive $75,000. A 60% gain.

If I invest $45,000 into stocks and they go up 10% I receive $49,500, still a 10% gain.

And 10% gain on real estate is small in this market. Good luck repeatedly making 10% on stocks.

[–]EsteraMC 1 points1 points [recovered]

There is nothing that says your real estate has to go up 10%. That is pure speculation.

[–]8008bumbs 2 points3 points  (1 child)

Real estate is a solid long term investment. Think about it like this. Population (globally and domestic) is historically always increasing which means demand for places to live is increasing over the long term. When demand increases price increases.

The best real estate investment would be in an area that is relatively low population but is expected to increase significantly over the short term. For example, if you had owned property next to the new tesla gigafactory before it was public knowledege the value would have increased significantly simply because of the increased population in that area.

[–]PM-ME-Y0UR-NUDES 22 points23 points  (8 children)

Finding a job that either nobody else can do or wants to do.

[–]creating_my_life 18 points19 points  (0 children)

There's a reason I pay my underground septic trench repair person $150 an hour in Winter!

[–]IncognitoMaster91 16 points17 points  (5 children)

Read "the richest man in babylon " then commit to following the steps provided

[–]el_Technico 2 points3 points  (4 children)

Why is this a good book to read? What will it teach me.

[–]IncognitoMaster91 14 points15 points  (3 children)

How to become the richest man you can be by following financial principles that are timeless. Using whatever income you have also.

[–]8008bumbs 13 points14 points  (2 children)

Also millionaire next door. It explains why the guy living down your road with a beat up honda and a 30 yr old 2 bed one bath is the richest man on the street.

[–]blackberryx 6 points7 points  (0 children)

Reminds me of an old co worker who made 80k and lived in a fresh built 450k house, new car and a small fishing boat but could barely afford to eat lunch at work.

[–]dongpal 0 points1 point  (0 children)

my rich uncle was wearing shit clothes because he said you get robbed if everyone knows youre rich (or at least have fear to get robbed)

[–]bob13bob 17 points18 points  (9 children)

my own business in real estate. lots of hard work and a bit of lucky timing. spent 2 years working crazy hours, i spent maybe 25 hours total in 2 years watching tv/videogames.

spend your time chasing money, not women. Lots of poor young people in this sub, learn to ignore bad advice including them. use the resources you have. Research what areas pay well for their costs. currently that is coding, nursing, trade skills, real estate if you have access to borrow money.

Don't waste your time. put a dollar amount on it. you spend 2 hours at the gym plus commute 5 days a week. 13 hours/week is way too much. discipline workout running around your neighborhood and save 9 hours/week.
did you just spend 1 hour buying groceries twice a week! you're so luxurious with your time.. get them delivered or buy a freezer and cook /buy bulk. i cook once/week. don't be afraid to invest money to save time.

DO NOT AVOID DEBT, learn the difference between good and bad debt. I'm worth a good amount and I have 3 cars. 2001, 2004, and 2011, all owned outright. I don't finance toys, if I can't buy it cash, then i dont' buy if it's a toy. I keep my hobbies affordable; video games are the cheapest hobby you can do.

[–]8008bumbs 1 point2 points  (6 children)

What is the difference between good and bad debt? Im confused by your last paragraph.

Did you mean you have payments on 3 different cars but they just aren't alot? or what are you saying?

[–]bob13bob 7 points8 points  (0 children)

i mean i dont' borrow money to buy cars, and i drive old cars.

[–]rigbed 6 points7 points  (0 children)

If you’re smart you can use margin to make you extremely rich. It can also make you extremely poor.

Bad debt is when you’re in debt because you went shopping for bullshit items like a woman in a shoe store.

[–]beginner_ 1 point2 points  (2 children)

What is the difference between good and bad debt?

leasing a cheap car so you can drive to a job that makes you more compared to the old one than the car costs.

eg. Car costs $400 month total Job nets you $1500 more each month

-> $1100 gain every month.

[–]bob13bob 3 points4 points  (1 child)

a car is a tool you need. But you don't know need a 40k car. instead of leasing, buying used is always better, even if you ahve to finance. after 4 years you have car without payments.

[–]beginner_ 0 points1 point  (0 children)

Agree but I was more coming from a point were you don't have the money to buy at all so leasing is the only option.

[–]pFlap 0 points1 point  (1 child)

i cook once/week

How? I would love to do this, it would save me a boat load of time. Meal prep?

[–]bob13bob 0 points1 point  (0 children)

of course.

[–]InscrutablePUA 7 points8 points  (4 children)

I like how everyone is throwing out ideas, tips, tricks, etc. without digging deeper into the question. Why do you really want $250,000/yr? How much are you willing to kill yourself to get it? What do you really value in life?

When you're in college all you see is the big $$$, you don't see the sacrifice that's required to reach that stage. You also probably believe that that cash flow will make you happy, fill in your voids in your life, etc. Think carefully about the reasons why you want it.

[–]i_forget_my_userids 2 points3 points  (0 children)

I did, but my top level comment was downvoted. All my replies are upvoted, though. People in this sub are idiots.

[–]rp_newdawn 2 points3 points  (2 children)

Pursuing medicine, 6 years in and 400k down in debt... this is honestly the most important question every college kid needs to ask himself. How much are you willing to give up? Will that sacrifice give you what you want? Will that bring lasting satisfaction to your life?

[–]InscrutablePUA 1 point2 points  (1 child)

We are unfortunately very ill-equipped to answer these questions at the age of 18, 21, or even 25.

Good luck to you in your medical career! I have many friends that went that route while I elected to do a different sort of graduate school. I also saw quite a few people transition from medicine into other fields like consulting and public policy, before and after residency. The burnout and depression rate in medicine is alarmingly high, even for the top practitioners...

[–]rp_newdawn 0 points1 point  (0 children)

You are dead on. Hard questions to answer, and no guarantee that the answers will remain true once the burnout sets in. That uncertainty is true in most areas of life tho...

[–]Senior EndorsedVasiliyZaitzev 9 points10 points  (2 children)

A. Went to law school.

B. Started working in CorporateLand.

C. Got to be really good at what I do.

I can't recommend law school to anyone now. First, it blows, and not in the 'fun' way, like with a lady. Full of SJWs and such, even when I went back in the last century. Also, now it is incredibly expensive and the jobs on the other side of graduation aren't keeping up, and there are only thousands of other lawyers now.

If I was starting over today I'd either do some sort of STEM thing, or I'd do something involving a skilled trade.

Oh, and save every penny you can, including the first 10% that hits your hand. You will never miss it. Put it in your 401k, and if you can max out and then contribute after tax, you wind up with what amounts to a "Mega Roth" IRA, because that money has already been taxed and you're not screwed out of it, like you will be when your income rises above the (regular) Roth limits.

[–]bob13bob 1 point2 points  (1 child)

yup, wife is corporate lawyer. huge debt, big paycheck but she's in the top 5% of her graduating class. many lawyers running around as paralegals making very little when educational debt factored it.

Not all stems pay well. Coding is king currently.

[–]circlingldn 0 points1 point  (0 children)

coding isnt king, actuarial science is

[–][deleted] 4 points5 points  (0 children)

At first I figured out how to make $1,000; and I did that over and over again 250+ times.

[–]Kidterrific 7 points8 points  (7 children)

Went to med school. Like anything else, it is not an issue of intelligence, but one of persistence.

[–]bob13bob 4 points5 points  (1 child)

med school requires both. Docs have a good pay, but that time and $$ investment is pretty crazy. honestly, equal hours in effort in to real estate/coding is better imo. You start earning a lot earlier, with timevalue money and investments can get a nice start on a 300k/year salary when you're in the top 1% of hard working + good intelligence to get in to med school.

I admit i haven't done a lot of analysis on this issue. there is a lot of med school data, and not too much on real estate pros.

[–]InscrutablePUA 1 point2 points  (0 children)

Not really... seeing how many of my friends graduated from med school clearly showed me that high intelligence is not needed. Above average IQ sure, but mostly you just need to memorize lists and bust your ass to train during residency. Plenty of mediocre doctors out there... like any field there is a dominance hierarchy of competence and success.

[–]rp_newdawn 2 points3 points  (0 children)

Medschool and residency absolutely require high intelligence... the difference is everybody is intelligent. Those that distinguish themselves do so via work ethic, persistent dedication, and not being socially fucking autistic.

[–]Idunnowhy2 1 points1 points [recovered]

Every single friend from High School that became a Doctor was in the Gifted program.

Saying it's not an issue of intelligence is a bald-faced lie.

[–]Kidterrific 0 points1 point  (1 child)

Let me get this right: being generous, the four or five people you went to school with were in the gifted program, but the guy who is actually a doctor and went to med school, sat on interview panels, and trained residents for over ten years is a telling a bald faced lie?

Check your sample size, homie, before you extrapolate bogus data based on your small experience of medicine. The world is filled with moron doctors who either got in through connections or pure sweat. I don't claim to be smarter than anyone. I work hard. And anyone in medicine will tell you: you can be as smart as you want, but if you're lazy, you aren't going to make it in medicine.

[–]InscrutablePUA 0 points1 point  (0 children)

Not in my experience.

[–][deleted] 4 points5 points  (6 children)

My father was very wealthy and owned a lot of side businesses. He was also super abusive but he left us his entire wealth (thank God). So for me, it was ridiculously easy. My mother had good experience in business and managed his inheritance pretty well and eventually passed it onto my siblings and I. I also studied very hard in college and worked my way up the business ladder

[–]_Fresh_cakes_ 1 point2 points  (1 child)

What kind of businesses?

[–][deleted] 0 points1 point  (0 children)

Real estate and the healthcare industry

[–]farg9 1 points1 points [recovered]

What did you study in college?

[–][deleted] 0 points1 point  (2 children)

Northwestern

[–]farg9 1 points1 points [recovered]

Nah man, as in what degree

[–][deleted] 1 point2 points  (0 children)

Econ

[–]RP_Br3 3 points4 points  (0 children)

My dad makes around that amount. His advice is to be unique and broad. Be the economic that knows about law or programming, or be the engineer that can communicate. He's nisched himself as an engineer that is amongst the best bosses and recruiters in the country. Known for coming into a team, gets promoted to boss the team in less than a year and his understanding of the teams needs helps him find the right guy for the slots to fill. He then finds a new job and works in a new environment every 2-3 years.

He also spends a huge amount of time during the weekends keeping up with the stock market and makes around 30k just due to that annually

[–]XelentGamer 7 points8 points  (0 children)

This comment also goes back to the top comment’s point about net worth. Let’s take a doctor. If you are paying 50% in taxes and 20% on student loans and 20% on a mortgage and 10% on lawyers for malpractice suits then what are you left with?

There are other things too, like simpler. Let’s take driving for Lyft or Uber. You have to pay for a car and insurance which you might not have needed at other jobs, your car loses value and must be kept in good repair, you have to pay for gas, if you are out and about all day you likely are splurging on the food bill etc until you widdle down the money to nothing.

I once had a fairly good job working offshore on a boat, they housed you and fed you and you were stuck at sea so you couldn’t blow your money on stupid shit, avoiding booze and girls on off weeks was a struggle for some though. Other companies offered insurance and a company vehicle during off weeks. So at the end of the day your take home was fucking high, the money just stacked up. There were guys in their twenties that grinded up to the top in 5 years making 6 figs and planning their retirement in their 30s. If different life circumstances had happened I’d likely be there now.

Thinking beyond money, other things are valuable just for your quality of life. If your commute time is 2 hours or more a day, leaving you barely any time for other hobbies and goals that’s a serious cost that has to be factored in. If you hate the people you work with, or your job security is less, or the potential for advancement is low you have to factor those things in. There is also a reason people take unpaid internships, the potential to make 10x more money in the future is well worth making pennies on the dollar now.

TLDR Look beyond what is on the surface and find out what you really make, 6 figs sounds nice but you may be increasing your net worth more at a job that pays half that.

[–]sjdfhskdjfh 1 points1 points [recovered]

I made some mobile apps. Passive income for the past 8 years...

[–]thesquarerootof1 1 point2 points  (1 child)

Do you mind me asking for which platforms and which language(s) you used?

[–]_Fresh_cakes_ 1 point2 points  (0 children)

How much have you made annually from these apps?

[–]rp_newdawn 0 points1 point  (0 children)

Went 400k in debt to go to medschool and surviving residency currently. I’m getting offers from 180-340 depending on location and position. I’m not even specialized, only internal medicine currently. You have to be okay with being a slave to the healthcare system for 7-10 years and going deep in debt, but the payoff is more consistent and reliable than most other avenues. Make sure that’s worth it to you. It is to me, to some of my closest friends it isn’t. I’m willing to talk to RPs that are considering the field.

[–]trognj 0 points1 point  (0 children)

As you can see, no one is going to tell you how THEY did as your post clearly asks. Just a bunch on one liners, quotes, and hearsay. Good luck bro. We all will be successful 🤙.

[–]kemchik 0 points1 point  (0 children)

By not sharing it with others if you got a method