[guide] How I made 1Cr+ in 5 years without working too hard?
Here are my rules:
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Forget about starting a startup. It’s overrated and a waste of time.
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Focus only on the popular tech skills that every company wants today. Avoid niche tech— stick to AWS, JS, Python, and React. You will thank me for this. Go and Rust might be the future but you will have time to pick that up later.
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Accept a full-time remote job, even if it pays lesser than your in office job. You'll save money, and it’ll be worth it.
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Ditch the big cities like Bangalore, Mumbai, Delhi. Move to a smaller town nearby; it's smarter and cheaper. You can still network yet save money.
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Leave any job that requires too much work or too many meetings. Meetings are the mind-killer. You’ll quickly find another job because you specialized.
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Take two-month vacations between jobs or contracts. You deserve it. It will help you decide what you want to do next in life.
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Do this for 7 years while investing most of your salary in a diversified portfolio. Don’t go too crazy with degen gambling/ fantasy apps/ futures and options/ trading etc.
Congratulations. You’re now rich like any other senior programmer that invested, but you’ve worked less, and for fewer years.
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The only thing I'd add is to use stop loss everywhere with investments and review them monthly, quarterly and annually.
Otherwise pretty solid rules 👌
😂
Learned this one too little, too late. But I’m getting there stronger now 💪
- Earn & save at least 70L and make sure next 5 years are mostly bull market
Can you explain in detail?
Nah bro detail me gaya toh motivation nahi milega. Don’t follow any script. Do whatever opportunity presents u with. For stock market stuff, just make sure u don’t need to touch ur investments in bear run and hope to get bull run again
As somebody who hates remote
I realize how stupid it is as a financial decision sometimes I made the most savings in jobs that either paid me for stay (travel) or during covid
Remote is a life hack. I wish I could do it.
Doing remote job, avoid meetings , stay in tiers 2-3, what about personal growth which comes from serendipity.
Tip 1: If you are in tech, focus on value creation and money follows
Not many value creating companies are giving remote job for obvious reasons.
Ps : I know people including myself who created much more wealth in same time, staying in tier1 and enjoyed my life much more.
IMO op just got lucky. If we talk about 2024 and further, remote jobs are rare to come by (heck just jobs are hard to find now). Moreover with the tech market on the floor and jobs not rising this is just getting tougher by the day. Also the bull run like the past years would not be possible and getting rich on investments would take a lot of time.
Bro earned 1cr and thinks he’s enlightened enough to say things like ‘startups are overrated’ 🤡
I am following the same but living in tier 1 city as wfh jobs are decreasing.
The only real advice related to wealth creation was the point about investing most of your salary in a portfolio 🤡
Good one @Jugular .
Do you think 1 cr is enough to automate parts of your expenses?
What I mean is the money that 1 cr generates, is it good enough to support your lifestyle or do you think you still need to work some more?
1cr doesn’t do much, >5 is where most people with tech jobs will feel they have a cushion. A lot of people in tech are fortunate enough for 1cr to just be around 2 years of income. But with that comes a level of life style inflation where said amount doesn’t seem like massive corpus.