Re:Ask HN: How to become a millionaire in 3 years? (2022)
by snowman-yelling on Tuesday February 01, 2022 @03:26PM
(#30168713)
You can earn $400k at Amazon and Meta today at L5/E4 today and you can certainly live cheaper than $3.5k per month.
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Re:Ask HN: How to become a millionaire in 3 years? (2022)
by Vadoff on Tuesday February 01, 2022 @06:23PM
(#30171150)
That's why I said, unless you were already a senior engineer (L5), which isn't really a viable 3 year plan for most people.
You can live cheaper than 3.5k, sure, but that's a fairly typical amount for a single person living near FAANG office locations, if you consider rent/utilities/food/transportation/clothes/equipment expenses/entertainment.
Btw, 400k is 225k in take home, minus aforementioned living expenses is 183k. Even if you were able to get to L6 within 2 years, that's 600k the last year, 320k take home, 278k minus living expenses.
183+183+278 = 644k so you would basically need to be lucky and have 26% stock appreciation every year, which is a lot higher than the norm.