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Ask HN: What are your long-term goals?

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Re: Ask HN: What are your long-term goals?

#21

Post by ThePadawan »

madengr wrote: post #13
miguelrochefort wrote: post #10

Retire by 40

I thought the same thing, but I’d have no idea what to do without work. If I didn’t have to save for kids college, I could retire now at 46. Other problem is 401k can’t be accessed until 60. Retire for me just means enough FU money, but I’ll probably work till I drop dead.

Europe-based engineer here: Is a 401k completely unaccessible until 60?

I am currently resident of Switzerland, which has similar restrictions on the tax-free part of retirement savings, but allows earlier withdrawal for reasons such as

* purchasing a home (restriction: you have to live there yourself

* leaving the country

Re: Ask HN: What are your long-term goals?

#23

Post by calvinzpinson »

ThePadawan wrote: post #21
madengr wrote: post #13

Earlier quoted context omitted.

I thought the same thing, but I’d have no idea what to do without work. If I didn’t have to save for kids college, I could retire now at 46. Other problem is 401k can’t be accessed until 60. Retire for me just means enough FU money, but I’ll probably work till I drop dead.

Europe-based engineer here: Is a 401k completely unaccessible until 60? I am currently resident of Switzerland, which has similar restrictions on the tax-free part of retirement savings, but allows earlier withdrawal for reasons such as * purchasing a home (restriction: you have to live there yourself * leaving the country

There are actually a few ways to get money out of your 401k before the traditional retirement age. It involves rolling the funds over from your 401k into a traditional IRA, and then into a Roth IRA in what is sometimes known as a Roth ladder. Here's an article on it: http://rootofgood.com/roth-ira-conversion-ladder-early-retir...

Re: Ask HN: What are your long-term goals?

#24

Post by raleigh_user »

I have a few:

1. Grow my company to 20 or so employees. 2. Use $$$ from company to fund a large portion of other investments, interests. (my company isn't VC funded. Goal is for it to be a cash cow) 3. Level up personal brand enough to speak/travel a few times a quarter and see some cool places. Use that $$$ to pay for kids college.

Re: Ask HN: What are your long-term goals?

#25

Post by petercooper »

A quite simple one: Build up enough of a nest egg so I can work solely on what I want to, when I want to. How? Build my company's revenues to a point where the industry multiple means I can sell and have the right amount, or.. just keep taking profit out until I have the right amount saved. It is as boring as that really.

Re: Ask HN: What are your long-term goals?

#26

Post by [deleted] »

petercooper wrote: post #25

A quite simple one: Build up enough of a nest egg so I can work solely on what I want to, when I want to. How? Build my company's revenues to a point where the industry multiple means I can sell and have the right amount, or.. just keep taking profit out until I have the right amount saved. It is as boring as that really.

[deleted]

Re: Ask HN: What are your long-term goals?

#27

Post by awinder »

ThePadawan wrote: post #21
madengr wrote: post #13

Earlier quoted context omitted.

I thought the same thing, but I’d have no idea what to do without work. If I didn’t have to save for kids college, I could retire now at 46. Other problem is 401k can’t be accessed until 60. Retire for me just means enough FU money, but I’ll probably work till I drop dead.

Europe-based engineer here: Is a 401k completely unaccessible until 60? I am currently resident of Switzerland, which has similar restrictions on the tax-free part of retirement savings, but allows earlier withdrawal for reasons such as * purchasing a home (restriction: you have to live there yourself * leaving the country

The US has a first time homebuyer withdrawl carve-out (which I think is defined as someone who hasn’t bought a house in 8 years?). There are also hardship exemptions. Technically you can withdrawl for any reason but you pay taxes + a 10% penalty.

Re: Ask HN: What are your long-term goals?

#28

Post by agentultra »

Something I've become passionate about in the last couple of years is reliability in software and professionalism in software development.

I feel like we're at an inflection point where the cost of developing formal specifications is coming down enough for more teams to be using them in their practice. I'd like to continue that trend to allow more developers to use pure maths to solve their problems and use computers to verify (and maybe synthesize) their work.

I don't know what five years from now will look like but I'd like to either be working on or finishing a maths degree or starting a company to work on developing tools to work with formal specifications and proof automation and consulting with teams to help them write specifications for their critical components.

> How do you work towards achieving it?

I spend my free time working on problems in predicate calculus and writing specifications in TLA+ or Lean. I look for opportunities in my day-to-day work that would benefit from those skills. When it is time to think about my next position I will look for jobs that will help me get to that next level. Right now that means looking for opportunities to work on projects where reliability is highly desired and complexity is also quite high.

When I conduct 1-on-1's with my team I try to get people to think about their career. I like to encourage people to think strategically about their future. What do you want to be doing, in an ideal world, 2-3 years from now? What can we do now to set you up to be ready for that opportunity when it comes up?

Re: Ask HN: What are your long-term goals?

#29

Post by Simon_says »

kostarelo wrote: post #12

TL;DR: I don't have long-term goals. I am setting short-term goals (at most a decade) and then re-evaluate my life purposes and begin again. I don't really have goals longer that one decade from now. I don't really know what I want to have by the age of 80(im currently 29) so I am not concentrating there. I do know a few things I would like though and those are money and to still be working with interesting things th…

> I don't really know what I want to have by the age of 80

I do know what I want to have: my health. Health is kind of relative at that age, but I'm working now to be the healthiest 80 year old I can be.

Re: Ask HN: What are your long-term goals?

#30

Post by icebraining »

petercooper wrote: post #25

A quite simple one: Build up enough of a nest egg so I can work solely on what I want to, when I want to. How? Build my company's revenues to a point where the industry multiple means I can sell and have the right amount, or.. just keep taking profit out until I have the right amount saved. It is as boring as that really.

You're missing the second question :)
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