I agree, though, are you really booked 44 weeks in a row as a freelancer? Seems pretty rare.
yes i am booked essentially whenever i want to be. https://news.ycombinator.com/item?id=13302154 for my portfolio. I can't tell you if it's rare but I can tell you that the stated rate was within reach of twenty-something me back when the portfolio was not nearly as good and i didn't work at google or anywhere like that. higher rates require more free-time investment and better portfolio (obviously worth). I have a friend with a worse portfolio who writes Scala and is always booked though i dont know if he is making $125 yet.
I think that you grossly overestimate what a $200k income actually gets you in terms of ability to aggregate wealth. If you're hoping to work until you're 65 and live off of a meager 401(k), then sure. Have at it. If you want an early and fat retirement, you'll need at least $300k salary. Large annual bonuses ($100k-$250k range) with a $200k salary would also be sufficient. $200k salary alone is solidly middle class.
This is absolutely nuts to me. At 200k you should be able to put away 80k+/yr if you are even semi-serious about FIRE. At that rate with a 7 percent return, adjusted for inflation, after 20 years you'd have 3.5MM in assets which would provide a safe withdraw rate of 140k/yr. This assumes that you make not a single dollar more adjusted for inflation than that 200k. 140k/yr is nearly 3x median income in America. This i…
So let me get this right. This hypothetical includes a $200k salary. Once you consider Federal income tax, FICA, and State income tax, you're sitting $130k in CA and NY, $135k in OK, etc. You want to "put away" $80k/year.
I think that you grossly overestimate what a $200k income actually gets you in terms of ability to aggregate wealth. If you're hoping to work until you're 65 and live off of a meager 401(k), then sure. Have at it. If you want an early and fat retirement, you'll need at least $300k salary. Large annual bonuses ($100k-$250k range) with a $200k salary would also be sufficient. $200k salary alone is solidly middle class.
This is absolutely nuts to me. At 200k you should be able to put away 80k+/yr if you are even semi-serious about FIRE. At that rate with a 7 percent return, adjusted for inflation, after 20 years you'd have 3.5MM in assets which would provide a safe withdraw rate of 140k/yr. This assumes that you make not a single dollar more adjusted for inflation than that 200k. 140k/yr is nearly 3x median income in America. This i…
Don't get me wrong, I am all for FIRE, which is why I chose the career path that I have. I could have retired 3 years ago after brokering one lucrative patent deal and collecting my brokerage fee. But earning $200k will not get you there without living a miserable existence.
the opposite. No one reports to that employee. (my previous message was confusing sorry).
No. An associate-level employee without any direct reports is just an employee. A manager- or director-level employee without any direct reports is an individual contributor. I wanted to clarify the distinction. If that's still confusing (for whomever), s/level/pay grade/g. Source: Former IC and Senior Manager at a Fortune 100-ish corp.
Finding 36 * 44 hours of work a year at that rate is non-trivial, not to mention the difference between 1099 taxes vs w2 taxes you pay as a salaried employee.
the difference is 7% iirc, its kind of negligible which is why i dont even know exactly what it is. Because the hourly rates ratchet at higher increments than 7%. If you want more money you go release a side project, give a talk about it and poof 20% raise on next project.
This is absolutely nuts to me. At 200k you should be able to put away 80k+/yr if you are even semi-serious about FIRE. At that rate with a 7 percent return, adjusted for inflation, after 20 years you'd have 3.5MM in assets which would provide a safe withdraw rate of 140k/yr. This assumes that you make not a single dollar more adjusted for inflation than that 200k. 140k/yr is nearly 3x median income in America. This i…
A 7 percent return is impossible without investing in crazy ultra risky financial products. The only vehicule where everybody (especially people close to retirement or retired) is investing is real estate (which is also ultra risky). Please thanks the FED for that.
I get 7% on several "robo-advisors" (financial advisors that use algorithms instead of people. It's not unheard of... not even uncommon.
As another posted mentioned, if you invest it is widely considered what you should have as a target for your average (some years better, some years worse)
Not possible, for the most part, as an IC. There are exceptions, though. 10000% possible in management, sales and executive positions. That's my observation anyway. That's also the reason why I'm making the move into this territory.
It's definitely possible in SF. I joined a mid-stage startup a year ago as an IC staff engineer type at a little over $200k base, plus bonus, plus RSU equity. I have significant management experience, but joined as an IC. Base would likely be even higher at a company like Google, LinkedIn, Facebook.
Your management experience makes a huge difference IMO. Also, SF salaries are inflated relative to other markets
This is absolutely nuts to me. At 200k you should be able to put away 80k+/yr if you are even semi-serious about FIRE. At that rate with a 7 percent return, adjusted for inflation, after 20 years you'd have 3.5MM in assets which would provide a safe withdraw rate of 140k/yr. This assumes that you make not a single dollar more adjusted for inflation than that 200k. 140k/yr is nearly 3x median income in America. This i…
So let me get this right. This hypothetical includes a $200k salary. Once you consider Federal income tax, FICA, and State income tax, you're sitting $130k in CA and NY, $135k in OK, etc. You want to "put away" $80k/year. Haha.
That is literally if you do nothing to shield yourself from taxes AND you are single. Do you plan on being single your entire life? and never investing in any tax advantage accounts?, never tax loss harvesting?, never being semi-serious about FIRE? You are so out of touch it is beyond unreal. There are people that live and work in every single one of those locales on 1/3rd and less just fine.
This is absolutely nuts to me. At 200k you should be able to put away 80k+/yr if you are even semi-serious about FIRE. At that rate with a 7 percent return, adjusted for inflation, after 20 years you'd have 3.5MM in assets which would provide a safe withdraw rate of 140k/yr. This assumes that you make not a single dollar more adjusted for inflation than that 200k. 140k/yr is nearly 3x median income in America. This i…
Don't get me wrong, I am all for FIRE, which is why I chose the career path that I have. I could have retired 3 years ago after brokering one lucrative patent deal and collecting my brokerage fee. But earning $200k will not get you there without living a miserable existence.
This is another lie. I make $150k/yr and could retire in a decade (barring a black swan event) and I just started my career 2 years ago. I live in a luxury townhome that is less than a 15 minute commute by bike or car to work, a trader joe's that is literally around the corner, and more restaurants then I can count on my hands within a 5 minute walk. I want for nothing, drive a BMW 5 series, I have a second car that is an older Accord. And I do it with a wife and 2 kids and we vacation twice a year, and I'm probably in a top 5 COL areas. You have no idea what a miserable existence is and you have either always been privileged and never knew it, or you have forgotten what it means to live a miserable existence.
This is absolutely nuts to me. At 200k you should be able to put away 80k+/yr if you are even semi-serious about FIRE. At that rate with a 7 percent return, adjusted for inflation, after 20 years you'd have 3.5MM in assets which would provide a safe withdraw rate of 140k/yr. This assumes that you make not a single dollar more adjusted for inflation than that 200k. 140k/yr is nearly 3x median income in America. This i…
A 7 percent return is impossible without investing in crazy ultra risky financial products. The only vehicule where everybody (especially people close to retirement or retired) is investing is real estate (which is also ultra risky). Please thanks the FED for that.
I challenge you to find a 20-year period that the S&P 500 did not return 7+% annualized returns AFI. There are some, but not many. I further challenge you to find a 30-year period where the S&P 500 did not return 7+% annualized returns AFI, there are even fewer. And the few that you will find are almost all between 6-7%.