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It’s easy to consider putting 20 to 30% of your salary towards savings and investments when you are making Silicon Valley money. It’s not so easy when you are m
by dguaraglia 9y ago
It’s easy to consider putting 20 to 30% of your salary towards savings and investments when you are making Silicon Valley money. It’s not so easy when you are making minimum wage while paying school loans, or even if you are one of the families earning the median household income of ~$60k and you have a couple kids.
- jedmeyers 9y ago> It’s easy to consider putting 20 to 30% of your salary towards savings and investments when you are making Silicon Valley money. Only if you are making Silicon Valley money somewhere outside of Silicon Valley. Otherwise, not so easy.
- Bahamut 9y agoHm? I dump about 25% of my compensation while living in the Valley (right in Sunnyvale), even while paying 100% of the rent/costs for my 2 bedroom apartment and take multiple vacations a year. I actually even debated dumping almost 6% more, but I want to save up for a trip to Japan in a couple of months.
- jedmeyers 9y agoWould you be willing to disclose your earnings so we can decide if your anecdote can be considered common for Silicon Valley or not? Also do you happen to have any dependents?
- Joky 9y agoI'd do this if I wasn't supporting kid/wife. Most problem I hear when trying to hire people from outside the valley is when they have a family: the salary in tech allows a confortable appartement, but not easily a house in a good school district.
- dguaraglia 9y agoFair enough. The moment you have a kid, the 20/30% figure goes out the window if you live in San Francisco or any other expensive part of the Valley.