Got my first 'real' job but realizing salary doesn't get you rich

[Water]

Im a young breh (23) that just graduated college and got a great job making high 5 figures bordering on 6 figs (Working as a programmer in financial sector) but honestly..It isnt that much money considering taxes,rent, helping sick mom.

So now im looking into ways I can pivot and get into making some serious money but so far all I can think of is take my skills to silicon valley and get a job at a start up and pray for the best but thats a pretty big risk in itself. Honestly feels like I should have been a rapper or something lol..

Anyone give me any ideas on how I should be investing my money instead of just blowing it on dumb shyt?

 

[REZZ]

Anyone give me any ideas on how I should be investing my money instead of just blowing it on dumb shyt?

Why not do both?

I've made a good bit of money over the past few months off trading cryptocurrencies. More off trading Ethereum than I have with stocks I've been holding for a couple years. It's stupid though cuz it's super volatile. If you inexperienced or unlucky you can have half of what you invested wiped out in a day.

And/or the smart, boring way. Invest at least 10% of your pay in your company's 401k especially if they match.

 

[MillionMills]

Why would a job make you rich? Almost nobody is rich from a job

 

[ORDER_66]

You can start your side hustle / side business in your job you can make connections, go to parties... Invest in yourself. Programming skills goes a VERY long way in this age of technology...

 

[Ice_MF_Mike]

Im a young breh (23) that just graduated college and got a great job making high 5 figures bordering on 6 figs (Working as a programmer in financial sector) but honestly..It isnt that much money considering taxes,rent, helping sick mom.

So now im looking into ways I can pivot and get into making some serious money but so far all I can think of is take my skills to silicon valley and get a job at a start up and pray for the best but thats a pretty big risk in itself. Honestly feels like I should have been a rapper or something lol..

Anyone give me any ideas on how I should be investing my money instead of just blowing it on dumb shyt?

You're young, this is the risk to take right now. You can make serious money if you get into the right startup at the right time. In preparation, save as much as you can and throw it into a high interest savings account. Then, make that jump. Even if you get into a startup that fails its still good experience.

oh and max our your 401k and contribute to a roth IRA now. Just do it and get used to that money being gone. Investing now is how you get rich.

 

[4-Rin]

At least you realized this early. High 5 figs at 23 is impressive compared to what I was making at my first job out of school
One thing to keep if mind if you decide to come silicon valley is the cost of living and everything else is high as shyt. You'll make more but the rent alone will take one of your paychecks unless you get roommates. A lot of people are working that start-up life hoping to make it big, you're young enough to take that risk

In the meantime max out your 401K and invest in mutual funds or ETFs. If you start now and be aggressive with it, you should be able to sit on a milli by the time you hit 35. Programmers can make bank.

 

[Bgreat]

that sucks to hear....

 

[Medio]

as everyone else said ...
401k, max it out if you can, get an employer who can match it to a percentage also
then do personal IRA or invest in some ETFs or low risk stocks, and in the future it will pay off.
I work at a start up, very high paced environment, I hope that we make it big and get bought out eventually, I would get an nice pay out and would definitely invest this and maybe try working at a early stage start up next if I have some financial security.

I don't like real estate but maybe find some like minded people and buy property together.

 

[ThaBronxBully]

Between Debt, Buying Bullshyt, And Eating Out You Might As Well Be Working For Free

Don't Be That Guy

 

[Anno Domini]

Props bro on getting a good job/salary that young. You're already well ahead of most people. Just don't fukk it up.

 

[Green N' White]

I'd start buying up rental properties especially multiunit buildings. You can live in one of the units to save money. Also I'd look into starting a side business with small start up costs that don't take up too much time like a carpet cleaning business or painting crew.

 

[ImGucci]

You are complaining bout making high 5 figs at 23?

Did you think you would be Mark zuckerbeg straight out of college?

 

[GetRichOrDieTryin]

>23
>bordering on 6 figs

i chose the wrong profession

 

[Voice of Reason]

I'd start buying up rental properties especially multiunit buildings. You can live in one of the units to save money. Also I'd look into starting a side business with small start up costs that don't take up too much time like a carpet cleaning business or painting crew.

This is interesting, do you have experience with something like this?

 

[Green N' White]

This is interesting, do you have experience with something like this?

I know a friend who owns a carpet cleaning business another one owns a turn over cleaning business and I've personally subcontracted for college apartment turnovers. I feel it's guaranteed money in a college town since they run apartment turnovers yearly. I'm about starting a turn over business for next summer I'll offer both cleaning and painting but cleaning will have limits for certain units.