| ▲ | faanghacker 7 hours ago | |||||||
This article has a narrow definition of passive income, limiting it to these low-barrier-to-entry schemes. Other parts of the FIRE world have emphasized being a landlord or flipping houses, for example. I personally made it happen by working a FAANG SWE job for 13 years, not getting sidetracked by the startup cult, saving and investing 70% of my after tax income, etc. And no I didn't get into crypto, but I still managed to make it with conventional investments. In fact, I chose to pursue a career in the tech industry in order to pursue financial independence in the first place. Because I knew back then (circa 2005) all the tech Kool aid was BS. That "don't be evil" was just a facade. And time has proven me right and my haters wrong, those who thought it was unethical for me to place wealth building ahead of career building. It's been four years since I've been out of a job. Now I'm creating more passion oriented content. I'm never bored. | ||||||||
| ▲ | zem 6 hours ago | parent | next [-] | |||||||
> those who thought it was unethical for me to place wealth building ahead of career building. that might well be the first time I've seen "career" and "ethical" conflated in that way. I've definitely seen the people who think you're a fool and possibly a sucker if you chase short term wealth over career stability, and there's definitely a veneer of unethicalness clinging to the notion of get-rich-quick, but I cannot understand how "establish yourself in a career" is an ethical concern. | ||||||||
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| ▲ | HeyLaughingBoy 6 hours ago | parent | prev | next [-] | |||||||
> thought it was unethical for me to place wealth building ahead of career building Twelve year olds? | ||||||||
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| ▲ | paulpauper 6 hours ago | parent | prev [-] | |||||||
This is the way. There is huge survivorship bias when it comes to start-ups, even AI start-ups. When it comes to wealth creation, it's hard to beat a 20-30% CAGR with big tech stocks since 2010 or so, which was doable. | ||||||||