The First Million

My Journey to Becoming a Millionaire

This is the story of my 18-year journey from arriving in the United States to achieving my first million in investable assets. It’s a tale of strategic job changes, calculated lifestyle decisions, and the power of compound growth through disciplined saving and investing.

The Foundation Years (2004-2010)

I graduated college in the summer of 2004 with a BA in Finance. Finding my first job out of college without relevant work experience in the field was incredibly frustrating. It was easier to break into the tech industry with my computer knowledge.

First Job & Early Career Struggles

In September 2004, I landed my first job at a small tech company with a starting salary of $32,000. The company was a joke and my boss was terrible, yet I didn’t consider changing jobs because I was told that staying at least one year was the minimum requirement for a first job. Things deteriorated after 6 months. In March 2005, I finally decided to quit and applied for a Master’s program.

Good things happen when we least expect them. I received an offer from a popular toy company through a referral 3 months before my master’s program was set to begin. That opportunity was too good to pass up. In July 2005, I withdrew my college admission and accepted the job offer for $49,000 + bonus. I grew my salary to $54,205 over a five-year period.

Lifestyle & Housing Decisions

During this time, my focus was primarily on stabilizing my life in the U.S. I went through various visa statuses. In late 2007, I finally received my Green Card (U.S. Permanent Residency), and I immediately started job hunting. I didn’t receive a single offer for six months as tech job openings in my city were scarce and I was terrible at interviews. I eventually gave up on my job search.

I had been living in a 2-bedroom apartment with 2 roommates for 7 years. At the beginning of 2007, after receiving my H-1B, I finally moved to a 1-bedroom apartment. This was during the middle of a housing bubble. The rental price for this high-end 794-square-foot 1-bedroom apartment was $1,863 per month (current rent is $2,100+). It increased to $1,885 when the lease was up for renewal in 2008. My rent-to-income ratio was close to 50%.

In early 2009, after the housing bubble burst, it dropped to $1,660 at the second lease renewal. Despite negotiating it down to $1,610, I ended up moving to a brand new apartment nearby. I paid $1,517 per month for a high-end 724-square-foot 1-bedroom apartment (current rent is $2,098). It increased to $1,525 after the first lease renewal in 2010.

Financial Reality Check

With an average annual saving of $10,000 during these years, my emergency fund was only $30,000 after spending over $25,000 on healthcare. Earning an extra $15,000 through a side hustle or a gross income of $70,000 wouldn’t have allowed me to buy a small townhouse. I knew I had been stuck in a dead-end job for the last 5 years.

My employer struggled to recover from the 2008 financial crisis. There were multiple rounds of mass layoffs, bonus cuts, and a mandatory two-week furlough plan. I decided to focus on job hunting once again after my close colleagues resigned.

Breaking the Six-Figure Barrier (2011-2012)

In early 2011, I finally received a job offer after being rejected by so many companies. It was a full-time offer for $80,000 + bonus from a utility company in a world-class city—over a 50% salary increase. I was so excited about that opportunity that I accepted the offer without understanding the organization’s culture and values. I had to relocate because the company was 50 miles away.

Strategic Job Hopping & Salary Growth

That job was terrible and I found myself regretting the decision. In April 2011, just after 5 weeks, I resigned without another job lined up. I thought I wouldn’t find a new job easily because it had taken me so long to get the last one. That wasn’t the case. There was a high number of tech job openings in the large metropolitan area.

I was able to find a contract job at a top entertainment company in less than a week. My pay increased to $57 per hour + lots of overtime opportunities. That was another 50% bump from the last job, or a 122% increase since the previous year.

Lifestyle Upgrade & Strategic Relocation

In early 2012, I moved closer to work. I rented a 1,100-square-foot 2-bedroom apartment for $2,299 per month (current rent is $2,695). I was planning to start a family. In June 2012, the company tried to convert me to a full-time employee since it was a contract-to-hire position. The salary was $40.87 per hour + bonus + overtime pay. That was a 30% pay cut. I declined the offer and started looking for another job in the same area.

My interview performance improved as I gained confidence. I was fortunate to find multiple jobs that offered six-figure salaries. In November 2012, I accepted a full-time offer from another entertainment company that paid $120,000 + bonus. That job was fun and my team was wonderful, but I hated the bi-weekly business trips to a satellite office. I even considered relocation.

In June 2013, after 7 months, I left the company and started a consulting job at a large tech company that paid $75 per hour (increased to $77.50 per hour after 1 year). The entertainment company counter-offered me $140,000 + bonus when I gave 2 weeks notice. I declined because the problem wasn’t about the money.

Reaching the $100,000 Milestone

I had been saving more than 50% of my gross income through these years. As my savings approached multiple six figures, I began to think seriously about investment. In early 2014, a new investment option caught my eye—peer-to-peer lending. I decided to make a trial investment at LendingClub. My savings reached $250,000 in August 2014.

Accelerating Wealth Accumulation (2014-2015)

In late 2014, the company converted me to a full-time employee. The salary was $133,000 + 20% bonus + $60,000 RSU. It was the first time I had been granted stock. The company’s stock has been performing exceptionally well and my RSU appreciated very rapidly. This helped increase my savings rate significantly.

Investment Strategy Evolution

I had solid trading performance in the commodity market. I made a six-figure profit during the oil price plunge of 2014-2015 by short selling crude oil futures. My investable assets reached $500,000 in May 2015. I continued to expand my investment portfolio across various asset classes: small business loans (DLI Fund), short-term residential real estate loans (Groundfloor), and short-term mezzanine and preferred equity capital for commercial properties (iFunding).

Lifestyle & Housing Decisions

In 2015, I moved closer to the company. I rented a brand new high-end 821-square-foot 1-bedroom apartment for $2,250 per month (current rent is $2,400+).

In 2016, I decided to transition to a different business unit within the same company and relocated to a new city. I rented a brand new high-end 1,185-square-foot 2-bedroom townhouse for $3,495 per month. I wanted a large garage for my home gym. Over the past 5 years, I have been consistently earning multiple six figures.

The Million-Dollar Milestone (2018)

In July 2018, my investable assets finally reached the $1 million milestone. It took me 14 hard-working years to accumulate my first million.

Key Success Factors

Looking back on my journey, several key factors contributed to reaching the million-dollar milestone:

  • Strategic Job Changes: Each job change resulted in significant salary increases
  • High Savings Rate: Consistently saving more than 50% of gross income
  • Investment Diversification: Expanding beyond traditional savings to alternative investments
  • Lifestyle Optimization: Balancing quality of life with financial discipline
  • Market Timing: Capitalizing on market opportunities like the 2014-2015 oil price plunge

Financial Growth Analysis

My assets have consistently increased at an annual rate of 61.16% over the past 9 years without a single year-over-year decline. This growth trajectory demonstrates the power of compound returns and strategic investment decisions.

Net Investable Assets Growth

Net Investable Assets include all my cash and investments (including retirement funds) minus my consumer debt (credit cards and loans), excluding personal properties such as cars, jewelry, and home.

Income Growth & Diversification

Beginning in 2020, income from stock trading is included and reported as 1099-B income. This excludes income from side hustles (1099-MISC) and trading profits (1099-B).

Lifestyle & Housing Evolution

My housing journey reflects my financial progression:

  • 1999-2006: 992 sqft 2 bedroom apartment (room sharing)
  • 2007-2008: High-end 794 sqft 1 bedroom apartment
  • 2009-2010: Brand new high-end 724 sqft 1 bedroom apartment
  • 2011: Brand new high-end 741 sqft mezzanine studio apartment
  • 2012-2014: 1,100 sqft 2 bedroom apartment
  • 2015: Brand new high-end 821 sqft 1 bedroom apartment
  • 2016+: Brand new high-end 1,185 sqft 2 bedroom townhouse

Lessons Learned & Strategic Insights

My journey to $1 million has taught me several valuable lessons about wealth building and financial independence.

The Power of Strategic Job Changes

My boss used to tell me that I had to switch jobs every 3 years. The idea sounded crazy, but it was actually true. That said, finding a high-paying job isn’t as hard as you might think. If you’re working so hard and not making six figures, you’re doing something wrong.

Each strategic job change resulted in significant salary increases, demonstrating that career advancement often requires external moves rather than internal promotions.

Balancing Lifestyle with Financial Goals

I believe that the sum of small joys in everyday life results in a more fulfilling life as a whole. I have no spending limit when it comes to living expenses. Luxury apartments cost me $1,000 more per month than affordable apartments. That’s $12,000 extra cash per year. My emergency fund could have easily been over $100,000 rather than $40,000 when I left the toy company back in 2011.

However, I chose to prioritize quality of life and experiences over maximum savings, recognizing that wealth building is a marathon, not a sprint.

The Compound Effect of Consistent Action

It’s easy to overestimate what you can accomplish in a short period and underestimate what you can achieve over a long period. My journey demonstrates that consistent saving, strategic investing, and calculated risk-taking can compound into significant wealth over time.

Looking Forward

Reaching $1 million has fundamentally changed my financial trajectory. I now have the foundation to pursue more sophisticated investment strategies and accelerate wealth accumulation. The journey from $1 million to $3-5 million will require continued discipline, strategic thinking, and the courage to embrace new opportunities.

For those still working toward their first million, remember that every successful investor started somewhere. Focus on your own journey, avoid comparison traps, and trust in the power of compound growth. Your million-dollar milestone is achievable with the right mindset and consistent action.