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My Path to Financial Independence as a Software Engineer

software.rajivprab.com

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Re: My Path to Financial Independence as a Software Engineer

#261

Post by secondo »

Winterflow3r wrote: post #252
secondo wrote: post #217

Earlier quoted context omitted.

> There are no stories like this one where I live (in Sweden). Absolutely none. Swedish tax rates on income makes this two to three times as difficult (approaches 60% plus 30% social paid by the employer this includes RSUs as well, plus 25% VAT) but it’s nonsense to claim this doesn’t happen. I am Swedish and have made significantly more in tech than the author. So has many of my friends. With that said, the only rea…

> I am Swedish and have made significantly more in tech than the author. So has many of my friends. If you're comfortable with sharing, was it through a company exit or IPO?

Absolute majority through RSUs, which is why I’m objecting the GP’s claims. The vested stock I’ve reinvested through an ISK in a somewhat broader portfolio over time.

Re: My Path to Financial Independence as a Software Engineer

#262

Post by jb3689 »

> If you’re still a student or open to attending grad school, do everything you can to gain admission into a top-5 Master’s program

I think you are over-estimating the impact of a "top 5" master's program vs an average master's program. I had a very similar trajectory to you and went to an average master's program.

The major difference between you and me is that I never wanted to work for a Google, Amazon, or Hedge Fund and wanted to work at smaller companies. Salary suffered because of my reluctance to even compete for those jobs.

> The biggest boost in my career earnings came when I transitioned from a Computer Hardware engineer to a Software Engineer

I also disagree with this. The biggest boost in your career earnings came from working at (1) financial companies and (2) working at FAANG. I don't think you have enough data to say that your area of focus is what to lead to this, and I personally think it is wrong. Maybe it opened doors for you however

Re: My Path to Financial Independence as a Software Engineer

#263

Post by PascLeRasc »

georgeburdell wrote: post #148
lordnacho wrote: post #64

Earlier quoted context omitted.

I think the real luck is getting on the ladder in the first place, where you have a prestigious job that is a natural step to even more prestigious jobs, ie you are always a likely candidate for the job above. Most hedge funds and FAANG employers get a lot of resumes that will never even be read. Also you really don't know what you're actually applying for when you're a graduate. You think you know but only those who…

True in my experience. The path is set long before you think it is. Yes, you can jump on the prestige track later on (in my field, this means joining Apple after 5-10 years of working), but a Stanford grad naturally walks into these jobs. My spouse and I have the same degree and background, aside from alma mater, but they joined a FAANG, in a design role, out of school because that’s where everyone in their Stanford…

Changing career tracks like that is so hard. You almost need to hide your experience in interviews. I’ve had so many interviews get derailed because the interviewer finds out that I’m looking to switch away from a field I don’t enjoy and realizes that they have another opening there they’d rather fill.

Re: My Path to Financial Independence as a Software Engineer

#264

Post by hackflip »

thisistheend123 wrote: post #218

I have a noob question: If everyone thought and lived like this. Save everything, don't spend too much, don't have kids etc. Would it not lead us into a world where there is not enough economic activity and growth. And the money that you do have in that case would not be worth much anyway..

Yes. But not everyone thinks like this.

Re: My Path to Financial Independence as a Software Engineer

#265

Post by [deleted] »

refurb wrote: post #223
pyrale wrote: post #131

Earlier quoted context omitted.

> Your flip comment seems to belie the fact that he's only earned at least a half a million dollars for one year. I would say $475k is close enough, in all honesty. > The majority of his NW comes from investment and savings, not income. Sum of (earnings - spent) over the career is $2,611,000. Net worth by the end is $2,400,000. In order for investment returns to be above savings on income, taxes would have to be 42.3…

Income tax in CA at that level is 33% per year approximately. Even at $150k. So knock 1/3 off earnings and subtract expenses, what do you get?

[deleted]

Re: My Path to Financial Independence as a Software Engineer

#266

Post by thegypsyking »

jb3689 wrote: post #262

> If you’re still a student or open to attending grad school, do everything you can to gain admission into a top-5 Master’s program I think you are over-estimating the impact of a "top 5" master's program vs an average master's program. I had a very similar trajectory to you and went to an average master's program. The major difference between you and me is that I never wanted to work for a Google, Amazon, or Hedge F…

The masters ranking does matter if you’re international

Re: My Path to Financial Independence as a Software Engineer

#267

Post by evv555 »

deanmoriarty wrote: post #241
endisneigh wrote: post #238

Earlier quoted context omitted.

> rather than simply admitting that they willingly chose a different path in life, but they could have chased my same opportunities with largely the same financial outcome. Let’s suppose everyone did this, how do you see it turning out? Who will do all of the other things?

I don’t want to dismiss your question, but to be honest I don’t know how to answer it. Maybe if everyone did it new arbitrage opportunities would arise so that it would become more lucrative to move somewhere else where there is a demand for services that nobody is doing anymore? But I am not an economist so I am not interested in reading 50 pedantic comments about how my previous sentence is inaccurate. I do not con…

>I do not concern myself with non-practical (in my opinion) matters because I know that the vast majority of people will not take that path, so it’s likely not an issue.

Vanguard index funds are basically meme stock status in large part because of articles like this. So arguably it's already happening and distorting prices.

Re: My Path to Financial Independence as a Software Engineer

#268

Post by Kye »

DoreenMichele wrote: post #23
xvector wrote: post #20

Earlier quoted context omitted.

I'd say the HN crowd is more likely to be in that top quintile than not

I'm not sure how true that is. Poor people tend to hide or downplay their poverty online in an environment like this one.

I remember when I didn't even have $5/day to spend on coffee to skip for even one subscription pitched that way.

Re: My Path to Financial Independence as a Software Engineer

#270

Post by paulryanrogers »

onos wrote: post #169
CodeGlitch wrote: post #105

Earlier quoted context omitted.

The modern "progressive" thought-process is to feel guilty about having a good education. I went to private school in the UK and the only thing I feel is infinite gratitude to my parents for forking-out the money to send me there (they were not rich, they were both teachers).

There is a lot of encouragement of guilt in the USA today. In general, shouldn’t we embrace a value system that encourages good behavior? Eg honor those who do relatively well in life, given the circumstances they are born into? The immediate leap to discredit the success of others through assertion of privilege seems like it would discourage doing well. A better solution imho would be to celebrate success but to als…

> A better solution imho would be to celebrate success but to also encourage the successful to share their insights with others so as to spread the fortune

Ideally yes. Though IME often the advice isn't applicable, so beyond a few fundamentals they break down. For example I cannot un-have kids, and getting a master's or doing a startup on the side would basically require neglecting them for too long. (Or quiting my day job and burning through our savings.) Lifestyle advice like modest living or moving far away also requires buy in from an SO or a painful break up/divorce. It's also a risk since they may change their mind early in the plan. Or they may decide the outcome wasn't worth the sacrifice and want to (or you to) return to the grind.

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