How to Become a Millionaire by 29 (My Plan as a Software Engineer)

My (anticipated) journey to becoming a millionaire at age 29. Purely for fun, enjoy!
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In this video, I take you guys along a weekend in the life of a software engineer intern at Amazon. This weekend was a little more active than my usual weekend, but I wanted to take you guys through what it's like living in Seattle as a young 20-something:)
If you’re new to the channel: welcome ~ I’m Michael and I'm a rising senior at Carnegie Mellon University studying Information Systems. I make new videos every week about college and tech
Follow me on Instagram! / m.ichaelsong
Find me on TikTok! / softwareintern
Here's the link to the spreadsheet used in the video! docs.google.com/spreadsheets/...
Contents
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0:00 Intro + Agenda
0:18 My background
0:47 The positive factors
3:32 My expenses
5:17 Diving deep into salary numbers
6:23 The numbers
7:53 Closing remarks

[@sel5274]

this is so interesting! good to see you’re planning ahead for the future

[@icecube9430]

I don't see an actual point in this hole plan if not saving money just for the sake of saving them, are u saving for an early retirement? or for a future big investment? Everyone has his own point of view in life, but i don't think that starving till the age of 30 to get 1mln dollars can be considered as a goal in life, i would rather try to do little investments like, start-ups or an e-commerce or other kind of businesses that can pop-up and make u more than a million dollar instead of consuming 8 years of your youth.

[@ZL0WBEE]

Love the chill, straightforward vibes you give off Michael, another banger 💥💥

[@miso-tech]

Thank you!!!

[@Dmoneyokeefe]

Great video Michael! I’ve been wanting to make content like this as well. Even if no one watches it’s great to put your goals out there and develop a plan. It will be great to look back on this when you are 29! I’m confident you will shatter your $1,000,000 goal!

[@miso-tech]

Thank you for the support Donald!!! 😁 you have my full support if you ever start making videos 😁

[@wzec73]

Do it bro! Michael himself just started making videos a few months ago

[@TigerAnimationsYT]

Hope you achieve this goal. Happy to see you blew up really quick after that Amazon video. Keep making interesting videos

[@miso-tech]

Thanks for the support 😁😁😁 I'll do my best!

[@michaelchapmanjr.3424]

Great video and explanation of your financial plan. I hope it goes the way you have outlined! When developing my own optimistic financial plan, I failed to allocate money to the costs of incidentals in my life. Such as being sick, and maintenance on the things that I own. Oh and most importantly, in my mid twenties I also got married. Having a significant other in your life will greatly impact that meal budget. I cant wait to see your update on this in the future. It definitely looks bright!

[@miso-tech]

Thanks for the comment! The points you brought up make complete sense. This plan doesn't account for any accidents or life events or even significant others that may burden me financially. I'll be sure to make updates along the way! :D

[@fleetadmiralkoby9761]

@@miso-tech fyi, none of these expenses are a burden. Money is not more important then these incidents/life events

[@bogxd]

Very inspiring, thanks for the vid!

[@miso-tech]

Thank you :)

[@MaxiAttiogbe]

Good luck Michael I hope ur plan works out 👍🏽

[@miso-tech]

Thank you for all the support Maxi! Means a lot :D

[@fentrai1942]

I hope you succeed king, you're one of my idols

[@phantomproduction5757]

You inspired me. Best of luck brother.

[@miso-tech]

Good luck!!!

[@ligmajoe6969]

this will definitely be a fun video for you to watch when finally hit that goal

[@terrylsingh-jr1ze]

5:34 Amazon settle sde 1 base salary is 170K ?

[@Zeila1]

I changed majors to computer science this year so now im 20 in first year 😭, but hopefully I can college and finish before 23. college is heavily subsidized in my country so im only 8k in debt so not too bad.

[@aidanhinnes7695]

Great Video

[@miso-tech]

thank you!!!

[@wzec73]

turned off youtube blocker for this heater

[@miso-tech]

sheeeesh lets go!!

[@bizbonguyen3110]

After 30 open the company, I will apply if you have one. From Colorado School of Mines> Great goals

[@miso-tech]

thank you 😁😁😁I’ll let you know if I open a company

[@nemonymous89]

Adding a Monte Carlo simulation for market returns would be awesome.

[@miso-tech]

LOL good idea, future video idea perhaps?

[@yackamajez]

I have the same goal. Also a senior in college working for Amazon when I graduate. You should look into buying property rather than renting. You’d be building equity rather than throwing your money away renting. It could also be pretty profitable investment if you buy in a market where the prices are likely to go up

[@adnanzaki4648]

I want to go into real estate as well when I start working. But if my salary can’t pay for entire properties, I was thinking about REITs.

[@butterspread4104]

would it affect his goal of being a millionaire by 30 ?

[@Truthbetold1990]

He didn’t take into consideration the market is down 20+ % this year nobody knows the future enjoy your life

[@davidelfin94]

1:33 "Software Engineering Internships pay a lot". It depends, I did mine for 4 months and got paid 0€ lol. Most of my friends didn't get paid either. These were internships offered via the university.

[@rayy6096]

man this sounds like a solid plan...however it doesn't work for low income countries....I really should try to move 😶

[@miso-tech]

Oh yeah, the US is blessed with these high salaries

[@mayangjsoa]

How much do u earn

[@user-ds7og5nq6n]

It's 2030: I'm watching this guy with 1mln or more bank account

[@abhishekkoka7508]

If mike a billionaire ima never go broke

[@miso-tech]

LOL facts

[@wzec73]

@@miso-tech yo day 1s right? 👀

[@asharmasharma51]

Bro let's meet after 7 years years me also hoping to become millionaire 🙌

[@timothyhuang7353]

Tech Lead on the way lol

[@xmz70]

You will get your goal early because of the inflation.

[@shikharpathak8413]

Hi loved your video but I think you missed one very important point here, INFLATION. so that 1 mil will today’s 1 mil in 2031 which means you won’t have a purchasing power 1 mil. Your investment will rise with 8% year on year but but so does price of products and your expenses by around 5-6% year on year. Does that make sense ?

[@addylai8793]

Totally agree with you! Not sure how Michael is able to find a landlord who will not raise rent for several years! In addition, I’m shocked to see how little he spends a year on toiletries alone. Does he not have a skincare routine!? Amazon must have a great healthcare plan since his expenses doesn’t include anything health related..

[@miso-tech]

Yeah, inflation is a great point. This year is a bit of an anomaly, where inflation is super high. Typically, it's much lower around 2%. All of my numbers are based off of current numbers, so even though my rent and other expenses will increase a few % a year, so too will my salary!

[@antarpreetsingh9038]

this is assuming you cash out your rsu's

[@talshakerchi1181]

🤑🤑