Ask HN: What are fastest paths to financial success?

#1

Post by snowisgone » Mon, Jun 08, 2020, 8:59 PM UTC

At Digg, one mentor gave me the savvy advice that the fastest path to financial success was working for four years at three different just-about-to-IPO companies. A surefire way to retire by forty. (This is, for the record, pretty good advice.)

https://lethain.com/forty-year-career/

What are other fastest paths to financial success? Currently am a software engineer, so looking for advice in this career choice.

Re: Ask HN: What are fastest paths to financial success?

#2

Post by morninglight » Mon, Jun 08, 2020, 9:13 PM UTC

For starters, always define your important goals in terms of clear and unambiguous metrics. For example: What are your criteria for 'financial success'?

Re: Ask HN: What are fastest paths to financial success?

#3

Post by throwaway888abc » Mon, Jun 08, 2020, 9:17 PM UTC

Shhh.. Black jack

Re: Ask HN: What are fastest paths to financial success?

#4

Post by gregjor » Mon, Jun 08, 2020, 9:37 PM UTC

First, you need to make a lot of money. Credit to Monty Python for this tip.

Re: Ask HN: What are fastest paths to financial success?

#5

Post by icedchai » Mon, Jun 08, 2020, 11:44 PM UTC

Real "The Millionaire Next Door." The basics are 1) get a decent job, 2) live below your means, 3) save and invest (mostly in low cost index funds or ETFs.) Do this for a couple of decades.

Finding three solid about-to-IPO companies would be like winning the lottery. You'll need more luck than you think. Take the luck out of the equation.