6 ms·
It still quite hard to achieve FI early, even on a tech salary. I can't speak for San Fran, but I'm on a pretty good (by UK standards) tech salary in London. T
by nly 5y ago
It still quite hard to achieve FI early, even on a tech salary.
I can't speak for San Fran, but I'm on a pretty good (by UK standards) tech salary in London. The cost of living (rents mostly) still make putting a high % of salary away every month a challenge. If you have kids as well, it's almost a non-starter.
The marginal tax rate means the only mechanism to do this efficiently are via pension contributions (similar to a US 401k), and these are locked until age 55 (60 by the time i get there).
Financial independence in your 30s is an enormous privilege.
- brianwawok 5y agoUS vs UK tech pay is an entirely different game though. I’m pretty sure there is a reason most of the FI early retire guys live in the US (heck mr money mustache moved here from Canada)
- deleted 5y ago[deleted]
- ixacto 5y agoIt’s [fire in 30s] doable in the United States in any major city if you follow relatively restrictive schedule and don’t have any kids, not exactly privilege just takes a good amount of discipline. Also salary’s are much higher and taxes are a bit lower than uk/eu. Housing is not too expensive if you rent a room for a couple years, but this is different between a 22/yo and 35/yo.