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Correct, this what I understand. Before the remote workplace, they were just too comfy in their location to think about locating to the limited tech cities wher

Correct, this what I understand. Before the remote workplace, they were just too comfy in their location to think about locating to the limited tech cities where these salaries are being paid

thatguy0900 5y ago
I mean, I'll be honest, I make around 50k in a non tech job in a low cost of living area.i really don't want for anything. Maybe I just don't like really expensive toys, but anything I want, I buy. I go on nice vacations in country, plenty of wilderness around me. I don't have to look at receipts or bills before paying them and I never think about my bank account. I'm really totally unsure what making 500k instead would do for me, besides retiring super early.
- kyawzazaw 5y ago
  Financial Independence is a big thing. (Not just retire) Do you have kids? Have you thought about generational wealth? These are the things that are in people's minds. If you want to understand more visit subreddits like /r/FIRE or /r/bogelheads or /r/personalfinance?
  - thatguy0900 5y ago
    I don't really want kids, thankfully. I can see how that would be an issue if I did though, true.
    - kyawzazaw 5y ago
      What about donations? Even as a student, I liked to donate frequently (maybe it's in my culture). Being able to donate a decent amount to a cause whenever I feel like it, is a plus.
- reidjs 5y ago
  Once you get to higher levels of income it sounds cliche but certain doors open up. You start rubbing shoulders with “influential people.” Now that money is no longer on your mind, you realize the value of your time over everything else. It’s a different perspective on everyday situations. I don’t think money is a prerequisite to have this mindset, like you said, you don’t want for anything more. but once you get a taste of the luxury it’s hard to go back Mo money mo problems.
- devoutsalsa 5y ago
  > besides retiring super early The less obvious one is save a shit ton of money so you never have to worry about big healthcare expenses, whether it be illness or injury. It's amazing how quickly life can go from pretty good to pretty not good when you're unable to work for a while, especially when your health insurance is tied to your employment. One bad bike accident took me from a six figure income at the beginning of my career to struggling for over a decade, including a stretch of homelessness.
- j7ake 5y ago
  At 50k you can easily provide for one maybe two people, but at higher salaries you can support a larger family (aging parents, children, relatives) and create generational wealth.
- 6gvONxR4sf7o 5y ago
  > besides retiring super early. This is the dream. Get the second half of my life for myself, if I'm lucky.
- dilat 5y ago
  Isn’t retiring early exactly what it offers? A 500k job would pay the equivalent of ten years of work (ish… taxes).
  - swiftcoder 5y ago
    Not for most people. A silicon valley job means a silicon valley house and mortgage - you're in for at least a couple of million for a house in those parts, and it'll be fairly modest by US standards. If you have kids, you have silicon valley school fees and activities. And since all your new friends are silicon valley friends with silicon valley money in their pocket, all your own activities are going to grow more expensive too. If you don't make a very conscious decision to step off that flywheel, a lot of people find themselves in the position where that 500k is mostly going to maintain your new normal lifestyle.
    - thebean11 5y ago
      The house can be sold though, not exactly "spent" money beyond the buying/selling/maintenance fees
      - swiftcoder 5y ago
        Assuming you didn't buy too close to the annual forest fires, and neither the mortgage crisis or the pandemic wiped out housing prices in your area, yes. Unfortunately hard to predict those events at the time of house purchase. Some people do very well on Bay Area real estate, some not so well.
        thebean11 5y ago
        Yeah, it's hard to predict events like that in any asset class, what's your point? Keep it in cash? In what areas did the pandemic wipe out housing prices?
        swiftcoder 5y ago

Correct, this what I understand. Before the remote workplace, they were just too comfy in their location to think about locating to the limited tech cities where these salaries are being paid

thatguy0900 5y ago

I mean, I'll be honest, I make around 50k in a non tech job in a low cost of living area.i really don't want for anything. Maybe I just don't like really expensive toys, but anything I want, I buy. I go on nice vacations in country, plenty of wilderness around me. I don't have to look at receipts or bills before paying them and I never think about my bank account. I'm really totally unsure what making 500k instead would do for me, besides retiring super early.

kyawzazaw 5y ago
Financial Independence is a big thing. (Not just retire) Do you have kids? Have you thought about generational wealth? These are the things that are in people's minds. If you want to understand more visit subreddits like /r/FIRE or /r/bogelheads or /r/personalfinance?
- thatguy0900 5y ago
  I don't really want kids, thankfully. I can see how that would be an issue if I did though, true.
  - kyawzazaw 5y ago
    What about donations? Even as a student, I liked to donate frequently (maybe it's in my culture). Being able to donate a decent amount to a cause whenever I feel like it, is a plus.
reidjs 5y ago
Once you get to higher levels of income it sounds cliche but certain doors open up. You start rubbing shoulders with “influential people.” Now that money is no longer on your mind, you realize the value of your time over everything else. It’s a different perspective on everyday situations. I don’t think money is a prerequisite to have this mindset, like you said, you don’t want for anything more. but once you get a taste of the luxury it’s hard to go back Mo money mo problems.
devoutsalsa 5y ago
> besides retiring super early The less obvious one is save a shit ton of money so you never have to worry about big healthcare expenses, whether it be illness or injury. It's amazing how quickly life can go from pretty good to pretty not good when you're unable to work for a while, especially when your health insurance is tied to your employment. One bad bike accident took me from a six figure income at the beginning of my career to struggling for over a decade, including a stretch of homelessness.
j7ake 5y ago
At 50k you can easily provide for one maybe two people, but at higher salaries you can support a larger family (aging parents, children, relatives) and create generational wealth.
6gvONxR4sf7o 5y ago
> besides retiring super early. This is the dream. Get the second half of my life for myself, if I'm lucky.
dilat 5y ago
Isn’t retiring early exactly what it offers? A 500k job would pay the equivalent of ten years of work (ish… taxes).
- swiftcoder 5y ago
  Not for most people. A silicon valley job means a silicon valley house and mortgage - you're in for at least a couple of million for a house in those parts, and it'll be fairly modest by US standards. If you have kids, you have silicon valley school fees and activities. And since all your new friends are silicon valley friends with silicon valley money in their pocket, all your own activities are going to grow more expensive too. If you don't make a very conscious decision to step off that flywheel, a lot of people find themselves in the position where that 500k is mostly going to maintain your new normal lifestyle.
  - thebean11 5y ago
    The house can be sold though, not exactly "spent" money beyond the buying/selling/maintenance fees
    - swiftcoder 5y ago
      Assuming you didn't buy too close to the annual forest fires, and neither the mortgage crisis or the pandemic wiped out housing prices in your area, yes. Unfortunately hard to predict those events at the time of house purchase. Some people do very well on Bay Area real estate, some not so well.
      - thebean11 5y ago
        Yeah, it's hard to predict events like that in any asset class, what's your point? Keep it in cash? In what areas did the pandemic wipe out housing prices?
        swiftcoder 5y ago