4 ms·

>> were hanging on to their jobs to save maybe 10% more or whatever The amount of wealth all people need is constant. It is 1.5 x whatever they have today.

badpun 4y ago
Crap, this fits me exactly.
zwkrt 4y ago
Quite a broad generalization. Sounds like people who don't have an actual plan for their money other than to have more of it. The kind of person who retires and realizes they don't even know what to do now that they aren't striving for that $$$.
- klodolph 4y ago
  Sure, there are all kinds of people with all sorts of ideas about what retirement will be like. And from my observations, more often than not, two people with different ideas about retirement will get married to each other. Different ideas about retirement—such as retiring with different amounts of security, different standards of living, different amounts of money donated to charity, different locations, downsizing or not downsizing the house, living in the countryside or the city, traveling a lot or a little, etc. My impression as someone who’s not retired is that you are signing up for a new relationship with your partner once you retire, and it’s hard to know what that new relationship will be like.
- away271828 4y ago
  I don't know. It's a big and somewhat irreversible decision from a pay and career perspective. I can certainly see people hesitate to make the plunge and maybe stretch things out a bit further even though they're pretty sure they're fine finacially.
  - sulam 4y ago
    Irreversible? If Tom Brady can come out retirement your typical tech worker will surely find it possible.
    - ghaff 4y ago
      I think it sort of is unless someone is a real name that lots of companies would fall over themselves to hire. For most tech workers--not limited to developers--if you decide to hang up your cleats in your late 50s or 60s, it's probably going to be difficult to change your mind a couple of years later. Part-time consulting is probably easier though. (Probably less so at the moment.)
- camdenreslink 4y ago
  Lifestyle creep is a thing. You may think you have a plan, but then get a slightly nicer house and slightly nicer cars and slightly nicer vacations…and suddenly now you need 1.5x the money you planned for.
paganel 4y ago
The people going after "wealth" are a minority. The majority of us are salaried people who go to work in order to have a roof over our heads, to pay the bills and put food on the table and maybe to have enough money to have some kids. The majority of us don't actually know what we "have", because it isn't that much anyway. We do know though what we need to pay in the next 10 to 15 days(and if we somehow forget there's where anxious dreams come into play to help us out with that).
- hikawaii 4y ago
  Given that the average mid level developer makes a salary and stock grant putting them well into the 1% (in USA) I find it questionable that the majority of people are "just" trying to keep a roof over their heads.
  - masterj 4y ago
    Top 10ish%? Yes. Top 1%? No
  - paganel 4y ago
    Looked to me like the OP was talking more generally, about all people. And back to developers (I am one, but not living in the US), I don't think most of them own their place of living. I know I don't, so, yes, I have to work in order to have a roof over my head.
    - ghaff 4y ago
      Well, there are property taxes, insurance, maintenance, and other things that can add up even if you have a paid-off mortgage on a house.
  - greedo 4y ago
    Perhaps your assumption that all "mid level developers" make FAANG income is a bit inaccurate? There are tens of thousands of developers across the US not making big bucks. And to be in the 1%, you need to be making north of $800K. The company I work for employees roughly 100 developers, and not one of them makes more than $150K (we don't award RSUs either).
whiddershins 4y ago
Double. But sometimes that number goes to == on layoff. I’ve seen this in real life.
shpx 4y ago
As a counter example, I need about 100x what I have today.
- runnerup 4y ago
  Man I need about -15x the net wealth that I have today.

badpun 4y ago

Crap, this fits me exactly.

zwkrt 4y ago

Quite a broad generalization. Sounds like people who don't have an actual plan for their money other than to have more of it. The kind of person who retires and realizes they don't even know what to do now that they aren't striving for that $$$.

klodolph 4y ago
Sure, there are all kinds of people with all sorts of ideas about what retirement will be like. And from my observations, more often than not, two people with different ideas about retirement will get married to each other. Different ideas about retirement—such as retiring with different amounts of security, different standards of living, different amounts of money donated to charity, different locations, downsizing or not downsizing the house, living in the countryside or the city, traveling a lot or a little, etc. My impression as someone who’s not retired is that you are signing up for a new relationship with your partner once you retire, and it’s hard to know what that new relationship will be like.
away271828 4y ago
I don't know. It's a big and somewhat irreversible decision from a pay and career perspective. I can certainly see people hesitate to make the plunge and maybe stretch things out a bit further even though they're pretty sure they're fine finacially.
- sulam 4y ago
  Irreversible? If Tom Brady can come out retirement your typical tech worker will surely find it possible.
  - ghaff 4y ago
    I think it sort of is unless someone is a real name that lots of companies would fall over themselves to hire. For most tech workers--not limited to developers--if you decide to hang up your cleats in your late 50s or 60s, it's probably going to be difficult to change your mind a couple of years later. Part-time consulting is probably easier though. (Probably less so at the moment.)
camdenreslink 4y ago
Lifestyle creep is a thing. You may think you have a plan, but then get a slightly nicer house and slightly nicer cars and slightly nicer vacations…and suddenly now you need 1.5x the money you planned for.

paganel 4y ago

The people going after "wealth" are a minority. The majority of us are salaried people who go to work in order to have a roof over our heads, to pay the bills and put food on the table and maybe to have enough money to have some kids. The majority of us don't actually know what we "have", because it isn't that much anyway. We do know though what we need to pay in the next 10 to 15 days(and if we somehow forget there's where anxious dreams come into play to help us out with that).

hikawaii 4y ago
Given that the average mid level developer makes a salary and stock grant putting them well into the 1% (in USA) I find it questionable that the majority of people are "just" trying to keep a roof over their heads.
- masterj 4y ago
  Top 10ish%? Yes. Top 1%? No
- paganel 4y ago
  Looked to me like the OP was talking more generally, about all people. And back to developers (I am one, but not living in the US), I don't think most of them own their place of living. I know I don't, so, yes, I have to work in order to have a roof over my head.
  - ghaff 4y ago
    Well, there are property taxes, insurance, maintenance, and other things that can add up even if you have a paid-off mortgage on a house.
- greedo 4y ago
  Perhaps your assumption that all "mid level developers" make FAANG income is a bit inaccurate? There are tens of thousands of developers across the US not making big bucks. And to be in the 1%, you need to be making north of $800K. The company I work for employees roughly 100 developers, and not one of them makes more than $150K (we don't award RSUs either).

whiddershins 4y ago

Double. But sometimes that number goes to == on layoff. I’ve seen this in real life.

shpx 4y ago

As a counter example, I need about 100x what I have today.

runnerup 4y ago
Man I need about -15x the net wealth that I have today.