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Redditors earning $100k+ a year, what are your secrets to your success?

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Re: Redditors earning $100k+ a year, what are your secrets to your success?

#3

From someone who's been failing startups since 2000, I can't imagine what I would do with that much money... It's really baffling..

Sadly, 100K isn't that much these days if you have a family and you live in an expensive city like Toronto or New York.

Re: Redditors earning $100k+ a year, what are your secrets to your success?

#5

From someone who's been failing startups since 2000, I can't imagine what I would do with that much money... It's really baffling..

Sadly, 100K isn't that much these days if you have a family and you live in an expensive city like Toronto or New York.

You must also live in Toronto :)

Re: Redditors earning $100k+ a year, what are your secrets to your success?

#7

From someone who's been failing startups since 2000, I can't imagine what I would do with that much money... It's really baffling..

It's funny how quickly you get used to the mindset that it's a good decision to trade money for time. If I value my marginal time at $50/hr, and unconsciously always choose to pay to save time, the mindset becomes ingrained and is hard to reverse.

Little things that you quickly grow accustomed to like taxis, dry cleaners, restaurants (plus a few big things like a mortgage or high rent from living alone in a decent apartment, car and all related expenses, etc) all add up very quickly.

I think that's one of the biggest advantages college students have when starting a company. They get a significantly longer runway for relatively less effort. It's much harder to adjust from making $200K to $20K.

Re: Redditors earning $100k+ a year, what are your secrets to your success?

#8
post #6

From someone who's been failing startups since 2000, I can't imagine what I would do with that much money... It's really baffling..

How do you keep failing startups??? What does it mean to fail?

Well, I still don't know what 100k feels like.. :)

Re: Redditors earning $100k+ a year, what are your secrets to your success?

#9
Be careful about chasing a dollar amount. $100K is pretty baseline for someone who has technical/design etc. skills. Moving into the $200K+ salary range often means working a lot of overtime, which leaves little time for enjoyable pursuits, or side projects which may eventually earn far more than that extra $100K a year.
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