Ask HN: What age do you expect to be able to retire? • Hacker News Board

Re: Ask HN: What age do you expect to be able to retire?

#41

Post by Veratyr » Thu, Nov 30, 2017, 3:25 PM UTC

monsieurbanana wrote: post #35

Veratyr wrote: post #19

Earlier quoted context omitted.

As soon as I can! I think it's insane that I'm spending my most able-bodied years sitting behind a desk writing code all day instead of with my wife or (not yet conceived) children.

Maybe in a hundred years it will be insane, once society catches up with technological progress. For now, what's insane is thinking that society can survive with people not working in their able-bodied years.

If I were working in a field that required an able body I might agree with you but I'm not performing manual labour, society would get just as much value from me overall if I had my retirement now and spent my 40s and 50s writing code instead.

It's already silly that I'm spending my 20s and 30s writing code.

Plus the code I write doesn't do anything for society's survival. We could just about switch the entire tech industry to maintenance mode, cut jobs by 90% and society would get along just fine, as long as we figure out a way to distribute necessities like food and housing without money.

The same can be said about an enormous chunk of the workforce. We're forced to work for survival but the jobs we perform aren't truly necessary, they're ultimately derived from an illogical and unsustainable obsession with growth.

Most of society doesn't _need_ to be working at all and society would get along just fine if it wanted. It just doesn't want to.

Re: Ask HN: What age do you expect to be able to retire?

#42

Post by digianarchist » Thu, Nov 30, 2017, 4:08 PM UTC

Maro wrote: post #36

sleazebreeze wrote: post #4

Not too far off it myself, but I save 75%+ of my post-tax income. Note that I do not deprive myself of luxuries, I am merely skilled at delayed gratification and grew up very financially unstable. I have a lovely 2017 car with My timeline is 5-10 years to be safe (age ~40). However, I get satisfaction out of creating and delivering software, beyond collecting a paycheck and don't have any intention to stop working -…

When I lived in Budapest, I was able to save ~50% of my invome. When I lived in London, I was able to save 60-70% of my income. Here in Dubai I can save 70-80%. Reason: (i) no kids (ii) I don't need anything other than phones and Macbooks and some shoes (iii) no expensive cars/houses to maintain (iv) high income (but not out of the ordinary for Eng). More generally: earn money in high pay cities and live frugally (Lo…

I'm surprised that you were able to save more money in London than Budapest.

Rents in London are prohibitively expensive. Did you share a place?

In Toronto my min-expenses swallow 50% of my salary.

Re: Ask HN: What age do you expect to be able to retire?

#43

Post by rco8786 » Thu, Nov 30, 2017, 4:47 PM UTC

askafriend wrote: post #22

rco8786 wrote: post #20

Earlier quoted context omitted.

You want to hit your number by age 35 but you still need to work for 15-20 years? Does not compute?

Just used an arbitrary range to convey "a significant amount of time". Didn't want to give away my age on here, heh. I've got a few years in the industry under my belt, but by no means nearing retirement anytime soon. Also to be clear, I probably wouldn't stop working if I hit my number - I would probably just work on different things or have a more flexible on/off work schedule. Also remember, luck is an important p…

I think I've officially used all mine up, but it's out there!

Re: Ask HN: What age do you expect to be able to retire?

#44

Post by badpun » Thu, Nov 30, 2017, 4:57 PM UTC

yodsanklai wrote: post #31

Funny to read that a lot of young people expect to retire at 40. A friend of mine did it, at 30. It sounded like a good plan. Living in a developing country with a small capital. Ten years later, he's broke, isolated, unable to travel or to access good medical care or even to provide good education to his daughter. At 40, after 10 years of doing nothing in a poor country, he has very limited options to make money. An…

> Ten years later, he's broke

Sounds like bad planning (or a lot of bad luck).

Re: Ask HN: What age do you expect to be able to retire?

#45

Post by Maro » Fri, Dec 01, 2017, 10:48 AM UTC

digianarchist wrote: post #42

Maro wrote: post #36

Earlier quoted context omitted.

When I lived in Budapest, I was able to save ~50% of my invome. When I lived in London, I was able to save 60-70% of my income. Here in Dubai I can save 70-80%. Reason: (i) no kids (ii) I don't need anything other than phones and Macbooks and some shoes (iii) no expensive cars/houses to maintain (iv) high income (but not out of the ordinary for Eng). More generally: earn money in high pay cities and live frugally (Lo…

I'm surprised that you were able to save more money in London than Budapest. Rents in London are prohibitively expensive. Did you share a place? In Toronto my min-expenses swallow 50% of my salary.

I had significantly higher income in London, at Facebook. I saved about 50% of my base salary, but I got lots of bonus/stock money on top of that.