Start with a billion and create an airline.
Ask HN: How do I get $2.2M dollars?
21–30 of 110 posts
Re: Ask HN: How do I get $2.2M dollars?
#22Re: Ask HN: How do I get $2.2M dollars?
#23The best way to get a ton of money, really quickly, with little risk is to go work for one of the big 5 tech companies.
Google, FB, ect pay 150k+ total compensation to new graduates and can quickly rise to 300k+ for "senior developers" with 4-5 years of experience.
I'm not really sure how much higher it goes after that, once your are promoted higher than a "senior developer". But it is probably a lot. And I am NOT exaggerating on those previously mentioned salary numbers.
Re: Ask HN: How do I get $2.2M dollars?
#24So you will need to generate 3.6% on your 2.2 million to take 80k a year. No idea what your tax rate is so i cant comment on how far out i am here. I doubt you can consistently make that kind of return year in, year out. Accounting for 2% inflation its looking even worse. There is a pretty good discussion here which expands further - https://www.reddit.com/r/investing/comments/5xmr3y/does_anyo...
The S&P 500 has an inflation-adjusted yearly average return of about 7%. 4% is a generally agreed-upon "safe" percentage if aiming to live off that amount.
Re: Ask HN: How do I get $2.2M dollars?
#25Honestly? Just master data structures, get competing offers at FB and Google, make 350-400k a year, invest heavily and aggressively, retire in 7 or 8 years
Why data structures?
To get through the interview process. Their interviews are a bunch of algorithm questions, and data structures is the starting point.
Re: Ask HN: How do I get $2.2M dollars?
#26Re: Ask HN: How do I get $2.2M dollars?
#27The simplest advice* people can give you without predicting the future can be found here : https://www.npr.org/sections/alltechconsidered/2016/01/08/46...
Basically: Get awesome grades, get a top offer, jump ship when you can earn 15% more elsewhere (and its not a down step job), Save at least 20% of your gross salary into some kind of index ETF/fund, live way below your means, wait 10+ yrs.
* Assuming you're in the USA
Re: Ask HN: How do I get $2.2M dollars?
#28Honestly? Just master data structures, get competing offers at FB and Google, make 350-400k a year, invest heavily and aggressively, retire in 7 or 8 years
Why data structures?
When he says "data structures" he actually means "interview questions".
Data structures and algorithms interview questions are the only thing that Google and FB care about.
Re: Ask HN: How do I get $2.2M dollars?
#29Adding to what everyone else is saying, remember that $80k/year will be great for now, but if you're not letting the principal grow at all, you'll still only be getting $80k/year in 40 years, at which point it'll be a lot less useful
Yeah, I’ve considered this. Maybe in years where return exceeds 4%, you invest the excess.
Re: Ask HN: How do I get $2.2M dollars?
#30I'm surprised no one has mentioned this, but if you want to attain your goal, you're basically swearing off having a serious relationship. It's very rare for you to meet someone serious about saving money. Before you know it, they're complaining that you never do anything even though you have plenty of money (relatively). Are you sure you won't want a relationship? You're young enough that within a decade you'll be a…
"And then before you know it, your youth will be gone. Time is more valuable than money."
Can't agree more. If I had to do it over again, I'd just live my life, not worry about being super frugal or saving a ton of money.