Forget about 6 figures, how did you made your first 7 figures?

[Anonymous]

Anonymous wrote:

Anonymous wrote:What do you do now, OP? That might help with some realistic options for you.

But, yes, most everyone in my life who has made serious money started their own business and had a big break of some kind. You could do some kind of entrepreneurial workshop to get some ideas started. I think Stanford has a summer program.

Op here. Thanks! I'm in I.T, a decent programmer but by no means great. Some companies do fight over me sometimes and I leverage that to my advantage, but again, I've reached my glass ceiling at $600k.

Thought about a Software company like another poster mentioned with low recurring costs, I just have no idea what type of software I can write and I lack the connection to Sales/Marketing guys to make it happen. I guess time to start work on it, only 14 years left before I reach 50!

Really? I'm in Aerospace and our salaries for technical roles top up at $170k. I can program fine so maybe I should switch; how did you get to a $600k range??

[Anonymous]

PP's $600k salary is really good for a software programmer in this area. Like, really good. Almost so good that it defies all credibility, is so far above market as to sound impossible, and is on-face unbelievable.

[Anonymous]

Anonymous wrote:PP's $600k salary is really good for a software programmer in this area. Like, really good. Almost so good that it defies all credibility, is so far above market as to sound impossible, and is on-face unbelievable.

Maybe works for Amazon and RSUs really worked out in their favor?

What would be top salary, $200k?

[Anonymous]

In 2016, we cleared $1M/yr. for the first time at 56 years old. $320k from 2 salaries (incl. bonus), plus about $140k in dividends and $600k+ in (unrealized) capital gains. Just about ready to retire.

[Anonymous]

Anonymous wrote:

Anonymous wrote:PP's $600k salary is really good for a software programmer in this area. Like, really good. Almost so good that it defies all credibility, is so far above market as to sound impossible, and is on-face unbelievable.

Maybe works for Amazon and RSUs really worked out in their favor?

What would be top salary, $200k?

II work remotely for a well known west coast IT juggernaut that everyone knows and I've been there a long time if that helps. 1/4 of my income comes from personal consulting. The income is good by west coast standard but by no means over the top. Base salary + bonus + others. I can't find any company on the east coast that pays as much. I travel 4 times a year to the headquarter.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What do you do now, OP? That might help with some realistic options for you.

But, yes, most everyone in my life who has made serious money started their own business and had a big break of some kind. You could do some kind of entrepreneurial workshop to get some ideas started. I think Stanford has a summer program.

Op here. Thanks! I'm in I.T, a decent programmer but by no means great. Some companies do fight over me sometimes and I leverage that to my advantage, but again, I've reached my glass ceiling at $600k.

Thought about a Software company like another poster mentioned with low recurring costs, I just have no idea what type of software I can write and I lack the connection to Sales/Marketing guys to make it happen. I guess time to start work on it, only 14 years left before I reach 50!

It's not too late. I have family friends that started a software company in their 40's and sold for millions in their mid-60's. I don't think they were pulling in millions/year in salary, but the end payoff was worth it.

[Anonymous]

i hope the hedge fund poster gets hit by a truck. what an arrogant turd. also, you suck at your job because you can't consistently beat the S&P's returns, no matter how much your fund suckers people into paying.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What do you do now, OP? That might help with some realistic options for you.

But, yes, most everyone in my life who has made serious money started their own business and had a big break of some kind. You could do some kind of entrepreneurial workshop to get some ideas started. I think Stanford has a summer program.

Op here. Thanks! I'm in I.T, a decent programmer but by no means great. Some companies do fight over me sometimes and I leverage that to my advantage, but again, I've reached my glass ceiling at $600k.

Thought about a Software company like another poster mentioned with low recurring costs, I just have no idea what type of software I can write and I lack the connection to Sales/Marketing guys to make it happen. I guess time to start work on it, only 14 years left before I reach 50!

There are very few "jobs" that pay 7 figures, even fewer for someone in a technical capacity. Frankly I am surprised at the 600k income. Must be a very very niche talent combination.

The one thing that anyone can get into, at any time, is business. Some companies have great ideas about what they want to build, but if you don't have such an idea, you can always start your own company building what others want. Start your own consulting company or something.

[Anonymous]

No. Very sketchy.

[Anonymous]

My boss makes $17mm a year off of a 4yr degree from Arizona State - so it's possible.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What do you do now, OP? That might help with some realistic options for you.

But, yes, most everyone in my life who has made serious money started their own business and had a big break of some kind. You could do some kind of entrepreneurial workshop to get some ideas started. I think Stanford has a summer program.

Op here. Thanks! I'm in I.T, a decent programmer but by no means great. Some companies do fight over me sometimes and I leverage that to my advantage, but again, I've reached my glass ceiling at $600k.

Thought about a Software company like another poster mentioned with low recurring costs, I just have no idea what type of software I can write and I lack the connection to Sales/Marketing guys to make it happen. I guess time to start work on it, only 14 years left before I reach 50!

There are very few "jobs" that pay 7 figures, even fewer for someone in a technical capacity. Frankly I am surprised at the 600k income. Must be a very very niche talent combination.

The one thing that anyone can get into, at any time, is business. Some companies have great ideas about what they want to build, but if you don't have such an idea, you can always start your own company building what others want. Start your own consulting company or something.

The problem with that is risk tolerance for most people; building a business generally will take capital, whether savings or loans -- and if the businesses fails we can be wiped out. As well as the lost income from the steady job that was left. At 45, I have young kids to support, and college to pay someday, and while it would be great to build a business and set my kids up for life, it's a roll of the dice. And the downside are very severe, since we have no safety net (savings is mostly in home equity and retirement, no family help to draw on, it's our jobs between us and poverty).

How do you others manage that risk to take the initiative to start their own company? Do you really put everything on the line, drain your savings accounts and take out home equity lines, you have that kind of confidence in your business venture?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Rise to the top and become CEO. A relative of mine retired at 1.2 and I'm pretty sure that's just his base.

Man I retired at 31 and got a lot of shit for it on here. 1.2!!! That's young.

You're trying to suggest 1.2m is nothing, having retired at 31? Are you sitting on a sunny beach somewhere but still reduced to trolling DCUM?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:26 st hedge fund. Sorry: you can't do what I can.

And you can't beat passive index investing. We all have our limitations, LOL @ you!

You're laughing at someone who made more in five years than folks here will make in a lifetime? Enjoy those step increases and associate "bonuses."

Many of us just don't have any respect for your work and see the overcompensation for it to be an unfortunately glitch on the market. And, yes, I understand your work. Just couldn't be paid enough to spend my life doing it.

Or as good at it as I am. Hey Feds! Y'all gonna get a 1 percent raise next year?

Yep. 1% raise, but my dividend income goes up much more than that for just sitting around and being alive.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What do you do now, OP? That might help with some realistic options for you.

But, yes, most everyone in my life who has made serious money started their own business and had a big break of some kind. You could do some kind of entrepreneurial workshop to get some ideas started. I think Stanford has a summer program.

Op here. Thanks! I'm in I.T, a decent programmer but by no means great. Some companies do fight over me sometimes and I leverage that to my advantage, but again, I've reached my glass ceiling at $600k.

Thought about a Software company like another poster mentioned with low recurring costs, I just have no idea what type of software I can write and I lack the connection to Sales/Marketing guys to make it happen. I guess time to start work on it, only 14 years left before I reach 50!

There are very few "jobs" that pay 7 figures, even fewer for someone in a technical capacity. Frankly I am surprised at the 600k income. Must be a very very niche talent combination.

The one thing that anyone can get into, at any time, is business. Some companies have great ideas about what they want to build, but if you don't have such an idea, you can always start your own company building what others want. Start your own consulting company or something.

The problem with that is risk tolerance for most people; building a business generally will take capital, whether savings or loans -- and if the businesses fails we can be wiped out. As well as the lost income from the steady job that was left. At 45, I have young kids to support, and college to pay someday, and while it would be great to build a business and set my kids up for life, it's a roll of the dice. And the downside are very severe, since we have no safety net (savings is mostly in home equity and retirement, no family help to draw on, it's our jobs between us and poverty).

How do you others manage that risk to take the initiative to start their own company? Do you really put everything on the line, drain your savings accounts and take out home equity lines, you have that kind of confidence in your business venture?

l

This is a great point. My husband started his business before kids when he was poor anyway. I started mine after, but before I had a lot to lose. Freedom is just another word for nothing left to lose

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What do you do now, OP? That might help with some realistic options for you.

But, yes, most everyone in my life who has made serious money started their own business and had a big break of some kind. You could do some kind of entrepreneurial workshop to get some ideas started. I think Stanford has a summer program.

Op here. Thanks! I'm in I.T, a decent programmer but by no means great. Some companies do fight over me sometimes and I leverage that to my advantage, but again, I've reached my glass ceiling at $600k.

Thought about a Software company like another poster mentioned with low recurring costs, I just have no idea what type of software I can write and I lack the connection to Sales/Marketing guys to make it happen. I guess time to start work on it, only 14 years left before I reach 50!

There are very few "jobs" that pay 7 figures, even fewer for someone in a technical capacity. Frankly I am surprised at the 600k income. Must be a very very niche talent combination.

The one thing that anyone can get into, at any time, is business. Some companies have great ideas about what they want to build, but if you don't have such an idea, you can always start your own company building what others want. Start your own consulting company or something.

The problem with that is risk tolerance for most people; building a business generally will take capital, whether savings or loans -- and if the businesses fails we can be wiped out. As well as the lost income from the steady job that was left. At 45, I have young kids to support, and college to pay someday, and while it would be great to build a business and set my kids up for life, it's a roll of the dice. And the downside are very severe, since we have no safety net (savings is mostly in home equity and retirement, no family help to draw on, it's our jobs between us and poverty).

How do you others manage that risk to take the initiative to start their own company? Do you really put everything on the line, drain your savings accounts and take out home equity lines, you have that kind of confidence in your business venture?

l

This is a great point. My husband started his business before kids when he was poor anyway. I started mine after, but before I had a lot to lose. Freedom is just another word for nothing left to lose

What was your DH backup plan if business failed out? I needed income immediately to pay rent so didn't have to move back to parents who live in hardscrabble community with no jobs and dying businesses (pre-internet too). I regret not being more risk tolerant back then, bc at least no one dependend on me but being broke with a steady job was one thing; bankrupt and back to 'Deliverance' was another.