How I got wealthy without working too hard

Re:How I got wealthy without working too hard by eloisant on Thursday November 18, 2021 @12:14PM (#29267830)

Yes, when you dig a bit these kind of posts they usually got extremely lucky by being at the right company at the right time (enter when it's a startup then make $$$ with stock options or RSU when the company IPO or gets acquired) or at some point worked at a big tech with a total comp between 300k or 400k.

There is no "secret" like saving or investing the right way.

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Re:How I got wealthy without working too hard by icedchai on Thursday November 18, 2021 @12:30PM (#29268048)

The "secret" is doing it consistently, through good times and bad. You need to consistently save and invest, month after month, year after year, at least 30% of your income. When your account drops 10 - 20%, you need to suck it up and invest more.

A friend of mine is on the FIRE path. The first million took him 15 years (this covered the dot-com boom, bust, great recession, and the recovery that followed.) The 2nd, 6 years. The third, less than 2 years (thanks QE / money printing.)

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