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Probably not that large proportion, but working in tech if you save 50 percentage of your income you should be able to reach that position within a year. Yes,
by mewpmewp2 3y ago
Probably not that large proportion, but working in tech if you save 50 percentage of your income you should be able to reach that position within a year.
Yes, but I think being able to generate savings for a lifetime is a much further out goal than just 1 year which in tech is very realistic to save 50 percent.
- danaris 3y agoFriendly reminder that "working in tech" doesn't mean you're pulling in $250k+/yr. Most people "working in tech" aren't in Silicon Valley, and can't easily save 50% of our income per year and still have enough to pay for both food and the mortgage/rent.
- berdario 3y ago> "working in tech" doesn't mean you're pulling in $250k+/yr. You're of course right > can't easily save 50% of our income Really? Of course people are at different stages in their life (being the sole income earner in a family with 2 kids for example, would easily mean that you cannot save 50% income in lots of locations), but assuming that we're only talking about new grads (for simplicity's sake)... I believe that in virtually all locations, tech pays well enough that you can save 50% of your income. I know it is in London, and believe the same applies in east Europe and India for example? (But truthfully, I only know of FAANG salary data for India, not sure how salaries are in the rest of the industry)