How much money do you make per year?

[DC]

This ain't ihub!

 

[Schmidtaki]

If other threads are truth I am a couple of years older than you. I made 2.15 cents an hour washing dishes in 1970. No one I knew made 10 dollars an hour unless they were selling drugs. The best money I ever made was 5.10 cents an hour working for a furniture store in early 1972 before I joined the Navy.

I am proud to say I have worked my ass off for 39 years and I do make 6 figures with no college degree. I put 2 children through college and paid for a wedding the amount I will not disclose. But you can't sniff my job today without at least a BA in electronics. So I believe it is much tougher today to get where I have gotten than when I was young. No doubt. I received considerations in employment because I was a Viet Nam vet. Not so sure those kind of considerations still exsist for our brave men and women in uniform.

They do but you have to work hard and get your experience levels up, I work for the Federal Reserve and normally just to get into the position I am in (IT) would require a bachelors but for me It was 4 years in the USAF, and 7 more years as a contractor for the USAF and Navy that landed me the big job that pays over six figures.

In all seriousness to make it far in any career you have to be an autodidact and the second most important thing is networking. The more people you know the better off you are, and never burn those bridges even if it means swallowing your pride from time to time.

 

[ijustposthere]

They do but you have to work hard and get your experience levels up, I work for the Federal Reserve and normally just to get into the position I am in (IT) would require a bachelors but for me It was 4 years in the USAF, and 7 more years as a contractor for the USAF and Navy that landed me the big job that pays over six figures.

In all seriousness to make it far in any career you have to be an autodidact and the second most important thing is networking. The more people you know the better off you are, and never burn those bridges even if it means swallowing your pride from time to time.

I never burn bridges, I blow the ******* up.

 

[Bearin' Down]

They do but you have to work hard and get your experience levels up, I work for the Federal Reserve and normally just to get into the position I am in (IT) would require a bachelors but for me It was 4 years in the USAF, and 7 more years as a contractor for the USAF and Navy that landed me the big job that pays over six figures.

In all seriousness to make it far in any career you have to be an autodidact and the second most important thing is networking. The more people you know the better off you are, and never burn those bridges even if it means swallowing your pride from time to time.

You make six figures or seven? You said you make over six figures so I was just seeking clarity. Interesting if you'd be the first millionaire salary to post, except Racer X who is a billionaire (jk or maybe not idk if he is or not, but his response was cryptic).

 

[Bearin' Down]

Income is an interesting metric, but net worth is far more reflective of one's position because it takes many of the other aforementioned factors into consideration.

For example, in the Bay Area where I reside, wages are insanely jacked up but the cost of living is also highest in the country.

One interesting topic, at least to me, is how people define "rich" or "wealthy". Growing up I always thought the entry-level was "millionaire", then later I thought "multi-millionaire", but I now see things very differently Within the confines of "rich", there are many levels and types. Old Money rich, Noveau Riche, IPO-Rich, I-Banker-Rich, etc. I make a very good living but I am just a (relatively) small fish in the Silicon Valley pond. For example, 3 of the top 6 executives in Google/facebook live in my neighborhood/community (good beer-drinking dudes BTW), their net worth begins with a B, or at least a half-B. My point is it's all a matter of perspective.

Right, but accumulating net worth generally comes with age. Salary being a semi okay indicator of how you will accumulate over your lifetime.

 

[Bearin' Down]

11 guys on here make more than 100k/year? Lol.

What of it? A good portion of those claiming to make six figures are in their 40s or beyond. That would seem common place to me.

 

[DC]

I'm in my 30s.

 

[RacerX]

Right, but accumulating net worth generally comes with age. Salary being a semi okay indicator of how you will accumulate over your lifetime.

Generally, yes. But don't tell that to my neighbors who took Facebook and Twitter public, among others - then again, I live in the Tech hub of the world so it does't seem that crazy around here.

 

[RacerX]

You make six figures or seven? You said you make over six figures so I was just seeking clarity. Interesting if you'd be the first millionaire salary to post, except Racer X who is a billionaire (jk or maybe not idk if he is or not, but his response was cryptic).

Not a Billionaire, and not really very close, and will never be. Though, not for lack of trying, my three largest venture investments all got crushed in tech-bubble collapses. But I've gotten really lucky a few times as well.

Living in my community is madness in some respects, I can (and do) buy most anything I want short of planes and yachts, but I'm also in the bottom 1/3 here in terms of net worth. Sucks to have studied hard, worked hard, networked hard, gotten lucky, and yet still feel low-net-worth relative to my neighbors. Not complaining - just pointing out that, just like there's always someone tougher than the tough-guy, same principal applies with money and many other aspects of life.

Begs the question - what's preferable for you, big fish in a small pond or little fish in a large pond?

 

[Bearin' Down]

Not a Billionaire, and not really very close, and will never be. Though, not for lack of trying, my three largest venture investments all got crushed in tech-bubble collapses. But I've gotten really lucky a few times as well.

Living in my community is madness in some respects, I can (and do) buy most anything I want short of planes and yachts, but I'm also in the bottom 1/3 here in terms of net worth. Sucks to have studied hard, worked hard, networked hard, gotten lucky, and yet still feel low-net-worth relative to my neighbors. Not complaining - just pointing out that, just like there's always someone tougher than the tough-guy, same principal applies with money and many other aspects of life.

Begs the question - what's preferable for you, big fish in a small pond or little fish in a large pond?

A happy fish in a fun pond?

How do you decide where to invest?

 

[Bearin' Down]

I'm in my 30s.

I didn't say all of us ?

 

[RacerX]

[/b]
How do you decide where to invest?

One area where i never invested: trading public stocks. I don't/won't risk my money (of my L.P.'s money) in any instrument(s) where i don't feel i have an advantage. And with public stocks, yeah i have access to analyst reports but so do lots of people, too much of a "jump ball" scenario for my taste.

In my first 2 decades as an adult investor i took many, many risks - some spectacular failures and some sweet wins. Now, I'm more into an asset preservation mode, and I only occasionally dabble in commercial and/or residential real estate - deals sourced through the local broker network. I get looks at lots of seed-stage Tech companies through the Angel consortium, but I pass on nearly all of them.