Reply to How old were you when you started making a lot of money?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Mid 30's, and our combined earned income is around $200k. So very solid, but not spectacular. However, we've managed to compile an investment portfolio of around $1.5M. We get bigger "raises" from that then we're ever likely to see from our salaries.

This is a capitalist economy. If you want to make a lot of money, you need to iown capital.[/quote]

how?  how did you do this?  a portfolio of 1.5M at you age and income is awesome.  do you own multiple properties?  a business?  buy and sell?  [/quote]

We got married at 23, and we were making about $140k at the time. So our income started out strong and hasn't gone up much (although I work P/T now). People often talk about how engineers "top out" relatively early, and there's some truth to that if you're not willing or don't have the personality to push your way into management. But what most people don't recognize is that you can take advantage of that early income, if you're disciplined, turn it into income-generating investments, and you likewise reach a point early on that earning a lot more just doesn't matter. You have to capitalize on the advantages you have. Just like the PP about the lobbyist couple who were making $77k and now $250k+, that's great, too, but from a totally different perspective. We're at the point where we can make up that difference in capital gains and not work nearly as hard, and we get much better tax treatment doing so.[/quote]

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