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Set for life level of wealth (say, $2-3m) is achievable on a programmer's salary or for someone working in finance, and after only a decade or two of work. You
by rwmj 1y ago
Set for life level of wealth (say, $2-3m) is achievable on a programmer's salary or for someone working in finance, and after only a decade or two of work. You just have to save and invest most of your salary instead of spending it all.
- herval 1y agoIs that really “set for life” amounts in the US these days? Sounds quite low. I can imagine it being a ton of money in the early 2000s, but not these days (unless you also have a fully paid out house on top of it, at least)
- jebarker 1y agoIt depends where you live and what your lifestyle expenses are. You can easily be set for most of your life on $3M if you live in a low CoL area and keep your expenses under control. Old age could wipe you out if you need a lot of care though.
- rendx 1y agoMedian personal income in the US was $42,220 in 2023. https://fred.stlouisfed.org/series/MEPAINUSA672N https://fred.stlouisfed.org/series/MEPAINUSA672N At the "probably safe FIRE rate", 4% interest: $2m -> $80,000 annually, while also preserving the $2m, accounting for inflation
- hdjrudni 1y agoThis is precisely my goal, but 80k isn't enough in the Bay Area I think. Trying to figure out where's best.
- FirmwareBurner 1y ago>level of wealth (say, $2-3m) is achievable on a programmer's salary Not if you live outside the US.