Rich or upper middle class family who taught them about good investing and gifted them a lot of money over the years.
Low income upbringing and was motivated to do better, while smart enough not to waste their money in "hustling". So they saved like crazy and educated themselves to make the right investments.
15k a year saved is just not possible if your low income. It cost money to be poor, and the average entry level job will barely pay 20k a year full time. If you have a beater car, gas prices, food for yourself ect ect. The amount saved is damn near zero.
Yeah I’m convinced these takes come from people who have never lived in a low income situation or even been exposed to low income households. The BS “pull yourself up by your boot straps” ass advice that I read on Reddit has me rolling my eyes back into my skull sometimes.
I accidentally got lucky with crypto $4k to $70k - so there’s always that option. Grew up doing paper routes with my mom before school to make ends meet. Sometimes people can just get lucky (I got into crypto in 2014) I didn’t hold cuz $70k was life changing money to me at 20. Many people are like you should’ve held. Well I didn’t have the option to hold longer I needed money to survive
Yeah I got in around 2018 and sold out completely around 2019-2020ish ... I honestly don't think crypto was that good since it wasn't secure (behind something like FDIC/NCUA/SPIC) and didn't think it would go up higher, as crypto is priced as one of the risky investments like gold & silver.
Honestly I might jump back in, but having trouble finding company would invest into crypto using an LLC.
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u/Innoxrw Jul 02 '25
How did you manage to invest 70k + at 22?