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Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

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31–40 of 80 posts

Re: Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

#31

Since you mentioned crypto trading, might I suggest you take a deeper look at what fundamentally blockchain can accomplish via smart contract and then invest in project that will be powering it. One project I'd suggest you checking is Chainlink. Check out these reading and video: https://blog.goodaudience.com/chainlink-the-missing-piece-to... https://medium.com/@smartcontentpublication/accessing-all-bl... https://www…

You're esssentially suggesting gambling to someone with money concerns.

Re: Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

#32
The error here is comparing an upper middle class life of a software developer to that of banks and tech billionaires. You mentioned you have relatively high income, so aren't you and your family's needs met? Everyone wants to retire early, everyone would like a nice sum of cash fast. Perhaps it is worth exploring not increasing income, but decreasing expenditures and living more simply.

EDIT: like others have said here, money is a side effect of a passion. It is not an end in itself, unless you take up business and finance careers.

Re: Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

#33
post #14

Remember that Amazon is a 25 year-old company. Bezos quit his job, took funding from family, and has always run a low-margin business, always playing a long game.

If I quit my job a bunch of people will be very negatively impacted. I can switch jobs and I can work on stuff in my spare time, but I can't go to zero income. Unlike Bezos, my family doesn't have anything they can loan me.

Yeah, I'd be living in a van down by the river if I quit.

Re: Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

#34
post #31

Since you mentioned crypto trading, might I suggest you take a deeper look at what fundamentally blockchain can accomplish via smart contract and then invest in project that will be powering it. One project I'd suggest you checking is Chainlink. Check out these reading and video: https://blog.goodaudience.com/chainlink-the-missing-piece-to... https://medium.com/@smartcontentpublication/accessing-all-bl... https://www…

You're esssentially suggesting gambling to someone with money concerns.

Well yeah, the people without money concerns don't need to gamble because they already have money.

Re: Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

#35
post #11

Earlier quoted context omitted.

LeetCode looks like a bootcamp/school for software development. I don't feel like that's where my weakness lies. I am a productive software developer and am up to date on most of the latest tech. Teaching for something like that would probably be more my speed. Also, where I live there are no FAANG companies and relocation is not an option. I work from home and unless there is a local software company that is hiring,…

It’s not a school. You should be more humble. Go try to do a few “medium” problems and see if you’re still feeling like it is below your ego.

Not OP, but it sure seems like just another “learn things” type of site. My friends and I used to do a lot of problems from the Project Euler back in the day that were similar. Looking at these problems, they aren’t that difficult and mostly are designed to get you a job as a software engineer. If you already have such a job, doing more of this will hit diminishing returns pretty fast.

Re: Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

#36

How old are you? Do you have a lazy stock portfolio? It's the first thing everyone should be starting at 18. Parents should be setting it up the day you are born. Investing gradually you would have enough money to not worry. Saving with compounding is the best way for the general public.

And a Roth IRA for the kid as soon as they start working. Have them contribute 100% of their pay and then give them the same amount to use. I plan to do this with my kid.

Re: Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

#38
post #13
post #9

If youre focusing on the money youre gonna make a bad product... PG's essays really do explain everything so be sure to read them.

Yes, but not focusing on money is how you end up building a business that sells dollar bills for $0.90. A few "for fun" startups have blown up in the past (Instagram, Snapchat, YouTube), but the reason majority fail is lack of business plan for how to actually monetize what they are working on. I don't consider focus on sustainability for a business to be a bad thing, though if a VC handed me $10m to spend trying to…

I think you should read The Black Swan. FAANG type companies are rare events. Nobody can plan a Unicorn company. They just happens. Look at the list of dead products that Google/Facebook creates every year. Even managers at FAANG don't know what is going to work.

You can focus on creating sustainable small software business. I don't know if you have read "Start small, Stay small" by Rob Wallings. It talks about creating a sustainable small business on the side.

Re: Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

#39
post #11

Based off your description, I would say the most pragmatic way to secure a slice of that pie and retire early would be to take up the Leetcode grind. I was blessed to be in a position where I was able to spend nearly the entirety of my quarantine free time practicing Leetcode. Last week I signed an offer with an American FAANG level company and more than doubled my final TC. I realize this is a highly anecdotal, unus…

LeetCode looks like a bootcamp/school for software development. I don't feel like that's where my weakness lies. I am a productive software developer and am up to date on most of the latest tech. Teaching for something like that would probably be more my speed. Also, where I live there are no FAANG companies and relocation is not an option. I work from home and unless there is a local software company that is hiring,…

Don't get discouraged. I found a good 100% remote role through HN by posting and reading monthly "who's hiring" and "who wants to get hired" threads. Unfortunately we don't have open heads right now.
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