With $180,000 net worth, rental income, and a startup, I want to break free from paychecks – what’s the best path to true wealth?

Some people get more ambitious as they become wealthier. A recent post in the RichPeoplePF Reddit community serves as a good example. A software engineer in their early 20s makes $204k per year from two jobs and is actively looking for a third job to get their annual income above $300k.

That’s a solid income, but it gets better. The software engineer also owns a 4-unit rental property and expects $1,200 in pure cash flow each month after completing renovations. The software engineer also owns a house and has two friends as tenants. 

The individual is also hatching a high-potential startup idea with a friend and has a net worth of roughly $180k. A low cost of living area allows the Redditor to save most of what they make. The software engineer is destined for the 1%, but this individual wants to be in the top 0.1%. That’s why the Redditor posted in the RichPeoplePF community. These are the tips Redditors provided.

The Risk Of Burnout

Some Redditors expressed concern that the young software engineer doesn’t have a sustainable schedule. Three jobs, a startup, and maintaining rental properties sound like a bit too much. However, that’s how most people would interpret it.

The world is filled with young hustlers who aren’t close to burning out. Other Redditors stated that now is the best time for the young software engineer to grind because it becomes more difficult once you’re married and have kids.

Burnout risk is real, but the Redditor is hanging out with friends. Having good social connections and allocating some time for exercise can mitigate that risk. We don’t know much about the Redditor’s lifestyle, so it is possible that they are maintaining a healthy schedule that’s filled with zero distractions. 

The Startup Will Get The Software Engineer To The Next Level

You can join the top 1% if you work hard at a job and continue to advance your career. The software engineer tried to get raises but opted to work for multiple companies to increase income faster. A third job will boost income even more, but some commenters suggested focusing on the startup for additional growth opportunities.

A startup creates the possibility of earning more while working less. It’s a hard grind in the beginning, but you can eventually delegate tasks and scale a company. You don’t have the same flexibility in a traditional job. It’s possible to double a startup’s revenue in one year, but it’s almost impossible to do the same thing at your current job.

The startup has more growth potential, and some Redditors suggested focusing more time on the startup. We don’t know anything about the startup, but if the Redditor starts to see it pick up, it may make sense to prioritize the startup. It’s possible that the startup will eventually earn more than what Redditor is currently making at two jobs.

Find Real Mentors

Some commenters suggested that the Redditor look for real mentors who are in the same situation or better. You don’t want to be the smartest person in the room because it will limit your ability to grow. One commenter even went so far as to suggest that the Redditor move to a big city like New York, Los Angeles, or San Francisco to be around other high achievers. 

These cities are expensive, but the Redditor already keeps expenses low. The investment can pay off if it leads to more business connections or inspires the Redditor to work harder. While work ethic and ambition aren’t problems for the young software engineer, it’s good to surround yourself with other ambitious individuals. 

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