Ask HN: How are young people getting rich these days?
How are young people getting rich these days?
15 comments
Here are the simple steps that anyone can do to have a successful life:
0) Start saving your money into a mix of index stock funds. Start early and save as much as you can. Do it all your live.
1)Maximize your Education and do your best. Aim towards a career. Don't make education your career. Example: Don't get a PhD unless you need it.
2)Select a career that you like and pays well. It must pay well for most of the people that do it. Sports and Acting and such are out.
3)Delay family until after you finish your education. Pick a life partner that has compatible life goals and values.
4) Live below your means and save into an index funds as much as you can.
5)Plan your career and decide how far you want to advance. Do it early.
6)Weather ALL stock down turns. Don't panic and sell. Add to your portfolio even in a stock market collapse.
7) Review your plan every year.
8) Don't be afraid to take calculated chances when you are young.
9) Be resilient, life isn't a straight path up. It has down turns so you need to recover and move forward.
10)Maximize your social life and and learn to network.
Do this and you should be well-off and have a secure life. You might even be rich.
0) Start saving your money into a mix of index stock funds. Start early and save as much as you can. Do it all your live.
1)Maximize your Education and do your best. Aim towards a career. Don't make education your career. Example: Don't get a PhD unless you need it.
2)Select a career that you like and pays well. It must pay well for most of the people that do it. Sports and Acting and such are out.
3)Delay family until after you finish your education. Pick a life partner that has compatible life goals and values.
4) Live below your means and save into an index funds as much as you can.
5)Plan your career and decide how far you want to advance. Do it early.
6)Weather ALL stock down turns. Don't panic and sell. Add to your portfolio even in a stock market collapse.
7) Review your plan every year.
8) Don't be afraid to take calculated chances when you are young.
9) Be resilient, life isn't a straight path up. It has down turns so you need to recover and move forward.
10)Maximize your social life and and learn to network.
Do this and you should be well-off and have a secure life. You might even be rich.
Same way as always, through inheritance.
1.Inheritance and wealthy parents
2.FAANG jobs or equivalent offering stocks
3.HFT and finance jobs
4.Management Consulting jobs
5.Stock market
6.Real estate investments
Working 3 full-time remote jobs
5, if you're okay with letting one or two go shitty some weeks, from disturbing rumblings around here and reddit (possibly larps there, probably not here).
10, if you are willing to let some Chinese people help you
20, then you can make your own staffing company
Social media( being influencer, etc)
Gaming( either being professional gamer or running servers
Business (online, offline, whatever)
In 2022, this comment is likely the most realistic including the comment https://news.ycombinator.com/item?id=32120668. Many of the advices out there isn't applicable without parents, role models, and environment that encourages it from a young age such as discipline and financial literacy.
By not eating out, cooking all their own meals. Extreme couponing. Buying instant coffee that you make yourself instead of Starbucks. Not buying things they don't need. Several profitable side hustles. Using money from their main job to invest in SaaS products that they've built from scratch. Cycling instead of driving. Not having kids early.
Running crypto-scams, selling old Pokemon & Magic cards, inheritance, and working multiple remote jobs simultaneously.
They’re not.
crypto and trading mostly
Ponzis and scams.
Gambling.