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I’m 28, from Europe, have worked for a well known large tech company in Silicon Valley for over 4 years (and a few startups before that). I currently have a bit
by GuiA 8y ago
I’m 28, from Europe, have worked for a well known large tech company in Silicon Valley for over 4 years (and a few startups before that). I currently have a bit under $500k “in the bank” (mix of cash, stock, bonds, index funds). I intend to leave tech in 2 years when - according to my current savings rate - I’ll be a bit under $750k.
I intend to travel and do my own thing for a year or three, and then go into teaching (primary school). I’ve worked with kids in various settings since I was 17, so I know it’s something I love doing. The goal is for my saved income to be an additional safety net/reservoir of money for buying a home in addition to my potential teaching salary.
Outside of Silicon Valley, I can live under $30k a year, which will be roughly 4% of my total savings. Not super aggressive, but not super conservative either.
The way I see it, tech will have (ideally) provided a very healthy jumping point to my subsequent non tech career. I think that’s the way to do it, because I honestly can’t see myself starting a family with my current workload/obligations/etc. Working remote is a distant option, but not super appealing for some reason.
I’ve been writing software since I was 12, I don’t intend to stop - just that after a bit under a decade in the tech industry, I realize it doesn’t match my ideals in the ways that teaching does.
Plus, I figure I can keep contributing to open source etc with the summers off and what not.
Who knows, maybe this is very idealistic, and I will fail miserably and in 5 years I will be begging for my job back - but at least I tried, and I think with my experience and resume I won’t have too much of a hard time getting employed in tech again.
Some of my friends in SF are surprised at how much I’ve saved in that time. I’ve certainly made sacrifices - not going to Tahoe every other weekend in the winter, cooking at home more often than going out for overpriced SF restaurants, etc.- but I don’t feel like I’ve had to particularly deprived myself. I do have the luxury of having gone to school in Europe and paid as a TA/RA in the US, so I have no school debt - certainly a privilege.
Just another anecdata point in case it is useful to anyone. Happy to answer any questions - i feel like money talk is still kind of taboo and should be discussed more openly.
- krn 8y agoWere you raised in the East side of Europe, by any chance? I noticed, that those, who grew up in post-communist countries, generally deal with money much more carefully. They primarily see it as a tool to free themselves from external dependencies, not the other way around.
- GuiA 8y agoNope, France. My grandparents grew up during the nazi occupation though (and one of them fought in the resistance) and raised my parents as such, so perhaps that had an impact.