Mined a Bitcoin in college.
My buddy traded his for rent
Pretty much the same. Bought some Bitcoin in high school in the early 10’s. It was just a novelty and I was a kid, so I didn’t buy much, but if someone was kidnapped or something it would be worth it to go through my old drives.
Changing jobs instead of showing loyalty to employers who couldn’t give two shits when it was time to let me go.
Removed by mod
Accidentally buying a modest house in what at the time was a “distressed” neighborhood because it was all we could afford. 15 years later the neighborhood has been gentrified and is highly desirable. The property has tripled in value and the land is now worth more than the house itself.
Anyhow, it was dumb luck on my part and again, mostly had to do with the place being affordable and relatively close to my wife’s parents.
the land is now worth more than the house itself.
This is usually the case. When the value goes up, pretty much all of the increase is due to the land value increasing. Land is a limited resource that’s always in demand, especially in desirable areas. The house itself is actually going down in value over time due to depreciation.
In my area it’s not uncommon for at least 70% of the value of a property to be in the land, and the house itself accounts for less than 30% of the value. There’s a lot of houses built in the 1940s to 70s in highly desirable areas.
getting accidentally hired and finally making enough.
story: every job I’ve ever applied for in tech didn’t work out. I was a dishwasher until right before covid when someone recommended me for a cybersecurity position. Before that I had obsessed about FIRE or living in a car or being careful about too much starbucks or avocado toast… without making enough for a car or health insurance. That job paid ~half of what cybersecurity should pay, but was AMAZING. My next job paid just a hair under average, three years later. night and day, able to afford to exist without help.
financial advice be damned. I couldn’t “find” anywhere with lower rent. I was in the lowest cost of living possible regionally. What needed to change was the PRIMARY job’s income rate, not adding some side hustle. Either make rent cheaper or find a higher wage.
I’m not making enough to consider your next fancy moves like getting a house.
Getting a master’s in electroacoustic music. Everyone told me I was going to stay poor forever, I decided to still do what I really wanted and it’s going pretty well.
Vasectomy like 10 years ago. Kids are expensive.
Buying a house during covid when I saw rent was increasing drastically for no apparent reason. I could barely afford it at the time but thanks to inflation and a couple raises, I’m comfortably sitting on a house that’s now worth 50% more than I bought it for, and paying way less than current rental prices. Rent is insane right now.
Dave Ramsey financial planning/yellow envelope method.
Switching to an IT degree at the last minute, would have been a history teacher otherwise.
Going all in on the stock option program, even if it was a little risky. I remember the argument: There’s no lottery or casino that’ll give me odds like these. I also left when we’d grown to the point where middle management didn’t want to understand that when the program ran out (4 years) and had to be restarted at the new validation, that was basically a static pay cut for me. I get paid a lot more now, but I still made more from stocks than work last year.
Second, our apartment. It’s a lot like a row house, except it’s in the city. The other part backs right up to the park.
Third, maxing out parental leave with both of our kids at a company that (as, more or less, a recruiting gimmick) topped up parental leave pay from the capped 80% to, iirc, 100% with no cap. They turned out be quite dumb about this and had shuffled me into a corner when I came back. I was ready to put my back into it, but well, I guess not then.
Investing at 21 my entire college fund. I wasn’t going to use it anyway.
Studying hard on my first year university. My GPA started high so I had a bunch of scholarships and grants. It’s easy to maintain a high GPA than to bring a low GPA to a high level. I religiously apply to scholarships and grants also. I paid maybe 1/4 of my tuition fees.
Things to note:
- My 4 year bachelor degree in healthcare only cost $25,000-30,000 including books.
- The gov’t even gives 60% back of tuition paid as tax refund every year until the gov’t party changed a few years after I finished.
- Also gov’t gives out cheap educational loans especially for low income families back then.
- Not in US.
Which Country is this ?
In life it’s been mostly pure luck, but one of the few things I really recommend is to keep in the loop about rebates, programs and services offered by my federal and provincial government. Stuff like rebates on first time home buying, electric bikes, and energy efficient equipment is nice cause I bet I saved at least 3000$ total.
In recent time tho the biggest one has been getting a bicycle. I got an e-bike but even a regular bike helped me stop paying through the nose for gas when I was just burning it mostly sitting in traffic.
Move abroad, halve my taxes, triple my income, reduce my cost of living by nearly 80%, effectively increased my savings rate by ~1100%, from 500 EUR/month to now >5k EUR/month. That’s 5k in fixed savings (investment plan), plus whatever else I don’t spend accumulates in my savings account.
I’m curious where’d you moved
All over the world. Germany -> Luxembourg -> Norway -> Liberia -> Tanzania -> Kenya -> Nigeria -> Madagascar -> China; and next month to Malaysia.
Luxembourg was great for starting to build some wealth thanks to the super low taxes, Norway was to improve my career opportunities, and in Africa I really started to make bank since those contracts included living & “hardship” allowances that are untaxed, I invested most of that and also used it to fund an executive MBA.
To China I already came with 15+ years work experience and entered on c-level with a great salary package; and there are no taxes on foreign income here, including foreign capital gains.
Malaysia is a stopover for a few years also for tax purposes, they have no capital gains either and the company I work for is registered in Hong Kong, which in China would be considered onshore and thereby taxable. So in Malaysia I can sell my share package for free after 2 years of residency.
Also much nicer climate and friendlier people than in China.
Thanks for the detailed reply! Definitely an interesting journey, and I glad to hear it’s financially good. Good luck.
I wish I was smart enough to be accepted by another country. I was looking up that French legion army the other day haha.
I guess European citizenship really helped initially. But for most lesser developed countries it’s often sufficient to have special skills that are in demand there. And I’m not talking about academia; there’s also demand for construction skills, meat processing and other stuff out there.
Two of the most successful people I’ve met during my years on the roll were a German butcher who is now running a sausage empire in Asia, and a Swedish carpenter who is now working as general manager for an NGO in Kenya, building schools all over Africa. Neither of them are university graduates.
In fact most graduates I meet are middle to upper level manager who’ve been sent by their respective companies to work abroad, which absolutely means they have a decent income, but they all run into a glass ceiling at some point. And many struggled hard to readjust when they were eventually called home; whereas the more entrepreneurial types just carved a niche for themselves.
