4 ms·

It's relatively easy for software devs to live comfortably on $50k and make $150k+.

by Jach 3y ago

jacobyoder 3y ago
Can confirm. Have done this for the last several years. Wife stopped working a few years back due to an injury (but no disability or other income for better or worse), so I've been the sole breadwinner the last few years. I've typically been bringing in between $150k and $220k (gross), and we've spent most of the last ... 7-8 years not doing or buying much. Min obligations each month are now around $3000/month (mortgage, utilities, food, insurance), so there's been a bunch of savings. I can't retire and never have to work again, but I'm slowing down a bit, and spending more time not earning money (gym, reading, travel, etc). On second though, if I absolutely needed to, we could probably 'retire' tomorrow, and do a bit more belt-tightening - savings/investments would last probably another 10-12 years without any major changes to lifestyle, then could collect social security. But that's... not something I want to do. I like doing most of what I'm doing, and am just being a bit choosier about what I do now. EDIT: no kids, semi-rural southern US. EDIT 2: Moderately high, but irregular, income from consulting/contract dev/tech work. Not W2.
- throwaway2037 3y ago
  $150k and $220k (gross) + semi-rural southern US. Impressive!
  - jacobyoder 3y ago
    Selling time (hourly), I can't keep it up forever, and 10 years ago it was more like $100-$120k. I already see this year slowing down some, but it might be back to more like $120k, but on a part time effort, which will be nice in its own way. I was regularly putting in 50+ hours/week, and it's just not something I could maintain long term.
nly 3y ago
Maybe in the US. Maybe. Here in the UK, after tax, $50K/yr doesn't even cover my mortgage, and I live in a house that over 100 years ago, according to the 1911 census, supported a family of 5 on a carriage drivers single income. I earn a top 1% salary as a dev and retirement will still be 20-25 years away for me under ideal conditions - i.e. a 40% savings rate.
- badpun 3y ago
  I'm guessing a bus driver in 1911 was kind of a high skill job, sort of like software development is now. How many people could drive a car back then, let alone a bus?
  - nly 3y ago
    Omnibus (i.e. carriage) driver.
  - TylerE 3y ago
    Carriage as in the horse drawn variety
- Jach 3y ago
  My condolences, outside the US is definitely harder. At least you can still invest in the S&P 500.
- ZephyrBlu 3y ago
  What's a top 1% salary in the UK?
  - nly 3y ago
    This will give you an idea. https://www.gov.uk/government/statistics/percentile-points-from-1-to-99-for-total-income-before-and-after-tax https://www.gov.uk/government/statistics/percentile-points-f... In US terms somewhere around $240K USD, before tax.
    - 3y ago
BeFlatXIII 3y ago
If they have their mortgage already paid off, yes, very much so.

It's relatively easy for software devs to live comfortably on $50k and make $150k+.

by Jach 3y ago

It's relatively easy for software devs to live comfortably on $50k and make $150k+.

Can confirm. Have done this for the last several years. Wife stopped working a few years back due to an injury (but no disability or other income for better or worse), so I've been the sole breadwinner the last few years. I've typically been bringing in between $150k and $220k (gross), and we've spent most of the last ... 7-8 years not doing or buying much. Min obligations each month are now around $3000/month (mortgage, utilities, food, insurance), so there's been a bunch of savings. I can't retire and never have to work again, but I'm slowing down a bit, and spending more time not earning money (gym, reading, travel, etc). On second though, if I absolutely needed to, we could probably 'retire' tomorrow, and do a bit more belt-tightening - savings/investments would last probably another 10-12 years without any major changes to lifestyle, then could collect social security. But that's... not something I want to do. I like doing most of what I'm doing, and am just being a bit choosier about what I do now. EDIT: no kids, semi-rural southern US. EDIT 2: Moderately high, but irregular, income from consulting/contract dev/tech work. Not W2.

throwaway2037 3y ago
$150k and $220k (gross) + semi-rural southern US. Impressive!
- jacobyoder 3y ago
  Selling time (hourly), I can't keep it up forever, and 10 years ago it was more like $100-$120k. I already see this year slowing down some, but it might be back to more like $120k, but on a part time effort, which will be nice in its own way. I was regularly putting in 50+ hours/week, and it's just not something I could maintain long term.

nly 3y ago

Maybe in the US. Maybe. Here in the UK, after tax, $50K/yr doesn't even cover my mortgage, and I live in a house that over 100 years ago, according to the 1911 census, supported a family of 5 on a carriage drivers single income. I earn a top 1% salary as a dev and retirement will still be 20-25 years away for me under ideal conditions - i.e. a 40% savings rate.

badpun 3y ago
I'm guessing a bus driver in 1911 was kind of a high skill job, sort of like software development is now. How many people could drive a car back then, let alone a bus?
- nly 3y ago
  Omnibus (i.e. carriage) driver.
- TylerE 3y ago
  Carriage as in the horse drawn variety
Jach 3y ago
My condolences, outside the US is definitely harder. At least you can still invest in the S&P 500.
ZephyrBlu 3y ago
What's a top 1% salary in the UK?
- nly 3y ago
  This will give you an idea. https://www.gov.uk/government/statistics/percentile-points-from-1-to-99-for-total-income-before-and-after-tax https://www.gov.uk/government/statistics/percentile-points-f... In US terms somewhere around $240K USD, before tax.
  - 3y ago

BeFlatXIII 3y ago

If they have their mortgage already paid off, yes, very much so.