Ask HN: What would you do to turn $100K into $1M in 3 years? • Hacker News Board

Re: Ask HN: What would you do to turn $100K into $1M in 3 years?

#41

Post by dhruvkar » Mon, Dec 12, 2022, 1:50 PM UTC

sdfgdfghj wrote: post #36

pdevr wrote: post #27

Find a product you can promote using paid traffic, which yields you enough margins. Assuming that you get paid monthly, that there are no caps on the product, and that you get the same margins consistently: A product with 100% margin will have you grossing $1 million in four months. A product with 50% margin will have you grossing $1 million in six months. A product with 25% margin will have you grossing $1 million i…

Assuming you can sell the whole of your inventory in 1 month, re-invest all income and do the same for the next month? Also assuming the margins are after all expenses? Isn't Amazon FBA taking like 30% cut?

Doesn't have to be a physical product.

Informational, educational, software products through affiliates are also targets to run paid ads against.

Re: Ask HN: What would you do to turn $100K into $1M in 3 years?

#42

Post by jameshush » Mon, Dec 12, 2022, 2:02 PM UTC

Lionga wrote: post #33

jameshush wrote: post #31

Spend $2000 on all the FAANG interview prep courses/mock interviews you can, interview at 10 places, get 2 offers, take the offer that pays the most. Move to SF, live with 10 people in a 5 bedroom place (with bunk beds) for $800ish/month to save money. Eat free food at your new FAANG job and rice/beans on the weekend. Work freelance on nights and weekends on the highest paying, most boring bank/adtech software projec…

Or live a in low COL country with low taxes, spend nothing on stupid leet code courses (the time is much more valuable than 2000$) and just freelance. You can make 300K easy if you would be able to get into FAANG, and take home 270K after taxes. Spend 800$ to live in a fancy, big apartment or a nice small house, eat out as much as you want, do vacations live a good life on 20K per year. After 3 years you will have 75…

@Lionga how do you make $300k easy? Genuinely curious, not throwing shade. Even when I was managing a 20 person engineering team for a fast growing USA based startup I wasn't even seeing that much in salary + bonus. It was pre-IPO so the stock was illiquid. I was also interviewing 3-5 people a week and putting in employment offers every month and the market salaries (at the time, this was about two years ago) for senior react developers and even and experienced DevOps person never hit $200k.

I spent a year trying to do freelance (10ish years of experience and some major brands like NFL and Microsoft) and couldn't land anything close to that either, so I ended up getting a normal job.

I'm currently doing something similar to what you're doing (I live in Taiwan and work for a California company.) Where are you living where you have a 10% tax rate? Even Signapore's income tax isn't that low. I'm assuming when you say "take home 270k after taxes" you mean personal income taxes?

My suggestion of leetcode grinding was a bit tongue in cheek but I still think it's the least risky, most control-able way to reach that goal in three years.

Like I said though, I'm genuinely curious. I'm always down to learn about ways to make more money for less work :D

Re: Ask HN: What would you do to turn $100K into $1M in 3 years?

#43

Post by yucky » Mon, Dec 12, 2022, 2:20 PM UTC

Since you didn't specify legality, the easiest way would be to move to a college town and become a drug dealer. Although if your goal really is a million then I would suggest you walk away at that point before getting caught, since it will take less that 3 years to do if you aren't using your own product..