Redditors who are rich (net worth $1 million+) - how did you get rich?
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Re: Redditors who are rich (net worth $1 million+) - how did you get rich?
#2Long response from a redditor who launched a reasonably successful startup:
http://www.reddit.com/r/AskReddit/comments/rqejz/redditors_w...
Re: Redditors who are rich (net worth $1 million+) - how did you get rich?
#3Long response from a redditor who launched a reasonably successful startup: http://www.reddit.com/r/AskReddit/comments/rqejz/redditors_w...
Looks like it's fake though. The thread is a reminder of the awful S/N ratio on Reddit.
Re: Redditors who are rich (net worth $1 million+) - how did you get rich?
#4WRT the top post there (as of right now), you have to be pretty lucky if driving a 20+ year old car is a net gain. Especially if you weren't the owner of that car for the majority of its life. Like with old codebases, there's a lot that can go wrong at any moment and be so difficult and expensive to maintain that it's worth it to just throw it out and get a certified pre-owned.
Depends on the car, I guess, I ditched my 12 year old Dodge for a 14 year old Toyota and feel much better about the reliability.
Re: Redditors who are rich (net worth $1 million+) - how did you get rich?
#5[deleted]
Re: Redditors who are rich (net worth $1 million+) - how did you get rich?
#6Re: Redditors who are rich (net worth $1 million+) - how did you get rich?
#7Earlier quoted context omitted.
Looks like it's fake though. The thread is a reminder of the awful S/N ratio on Reddit.
I'm curious-what in the post indicates that it's fake?
Re: Redditors who are rich (net worth $1 million+) - how did you get rich?
#8Earlier quoted context omitted.
Looks like it's fake though. The thread is a reminder of the awful S/N ratio on Reddit.
I'm curious-what in the post indicates that it's fake?
The reply to it:
http://www.reddit.com/r/AskReddit/comments/rqejz/redditors_w...
Re: Redditors who are rich (net worth $1 million+) - how did you get rich?
#9Easiest way:
No kids. Two good incomes. Reliably saving 20%. Mid 40s. No college debt or health issues.
That should get you to about a million in assets.
Re: Redditors who are rich (net worth $1 million+) - how did you get rich?
#10WRT the top post there (as of right now), you have to be pretty lucky if driving a 20+ year old car is a net gain. Especially if you weren't the owner of that car for the majority of its life. Like with old codebases, there's a lot that can go wrong at any moment and be so difficult and expensive to maintain that it's worth it to just throw it out and get a certified pre-owned. Depends on the car, I guess, I ditched…
with cars you can just buy them used and sell them before they depreciate too much. Buy a 3 year old car, keep it for 1-2 years, then sell it. (if that's still too rich for your blood...get a 5 year old car and keep that for 2 years)
Just look at the cars as the cost to own...not actual price you pay.
So even if a car depreciates 20% in that time period, you can still drive something decent.
A $10,000 used car...will depreciate $2,000 or $1,000/yr or $83/mo
$83/mo is a small price to pay to have a reliable car that's just 3 years old.
And if you want something better...
A $40,000 used car...will depreciate $8,000 or $4,000/yr or $333/mo.
$333/mo is nothing, and a $40,000 car started off its life as an $80,000 one.
And that's if you hold the cars for 2 years....if you sell them within the year...you can sell it for the same price you paid for it.