Earlier quoted context omitted.
Just move then, your feet aren't bolted to the ground.
You can't "just move". It is quite difficult to get into the US
Is it harder to get into the US or the EU?
My Path to Financial Independence as a Software Engineer
301–310 of 583 posts
Re: My Path to Financial Independence as a Software Engineer
#302Earlier quoted context omitted.
Given my experience in NL, I would disagree. I see a very clear class divide here, which is just mostly ignored by the middle/upper classes and government. Most of the population spend the majority of their income on rent, commuting, and essentials. Students also have lots of debt over the past decade (15k on average). Owning a car is expensive, but so is public transport (esp. for a family). Renting is expensive, bu…
You forgot to mention you do have a wealth tax. For wealthy people, those tend to be one of the "worst" taxes, because it is payable regardless of whether your investments do well or bad.
You’re right, I missed commenting on the Wealth tax.
However, it’s equally ineffective - there are multitudes of ways to avoid paying it, as the wealthy here continuously do. Further, the percentage itself is quite small:
- 0.58% for 30k-100k
- 1.34% till ~1MM
- 1.68% afterwards.
It is hilarious to me, that 30k is considered “wealth”. This means saving for your children’s studying expenses (rent, food, etc), would require exceeding 30k and paying taxes.
The wealthy are wealthy. It doesn’t seem to affect them at all. Instead, people like you and I have to think about the arbitrary amount of money the gov wants to extricate from our small savings.
Re: My Path to Financial Independence as a Software Engineer
#303> Disclaimer: I acknowledge that I’ve been very privileged, especially in the educational opportunities I’ve had. This might sound reasonable from a US-centric perspective, but to me it reads like utter nonsense. The main privilege here is access to the US labor market and tax policy. There are no stories like this one where I live (in Sweden). Absolutely none.
People from Sweden should have a fairly easy time emigrating to the US right?
It's a bit of a myth that it's easy for people from European countries to emigrate to the US. Generally speaking there are no special visas available. You would either have to look into getting an H1B or one of the O1 visas. The O1 route is difficult, and the H1B route, while attainable, is a big PITA, and leaves you in a rather insecure position (especially if you have a spouse).
Re: My Path to Financial Independence as a Software Engineer
#304> Ultimately for me, that’s what financial independence is all about, and why it is all worth it. It’s not about sitting on a beach and drinking your life away. It’s about having the freedom to pursue your life purpose, whatever it may be, and however impractical it may be. This is just my personal opinion, but this is an ass backwards way of doing things and it gets me frothing at the mouth. If it's your life purpos…
The beauty of high tech is that you can achieve financially independent within your mid-to-late 30s depending on how well you do.
Conversely, I've seen those that "pursue their passion" end up being bitter and cynical when they don't make it. They end up working one dead-end job after another, hoping to one day become a famous writer/actor/singer/etc.
Eventually they realize they don't have what it takes and are now stuck working into their 50s/60s.
Sure some small pct end up being successful but the majority end up being in the same corporate trap that they originally eschewed, albeit with more debt and a more precarious financial situation.
Re: My Path to Financial Independence as a Software Engineer
#305Earlier quoted context omitted.
Given my experience in NL, I would disagree. I see a very clear class divide here, which is just mostly ignored by the middle/upper classes and government. Most of the population spend the majority of their income on rent, commuting, and essentials. Students also have lots of debt over the past decade (15k on average). Owning a car is expensive, but so is public transport (esp. for a family). Renting is expensive, bu…
> Students also have lots of debt over the past decade (15k on average) Those are amateur numbers. -USA
I know loads of students with more debt, but indeed, it’s less than the USA. Not an acceptable amount regardless.
Re: My Path to Financial Independence as a Software Engineer
#306Earlier quoted context omitted.
Given my experience in NL, I would disagree. I see a very clear class divide here, which is just mostly ignored by the middle/upper classes and government. Most of the population spend the majority of their income on rent, commuting, and essentials. Students also have lots of debt over the past decade (15k on average). Owning a car is expensive, but so is public transport (esp. for a family). Renting is expensive, bu…
> Most of the population spend the majority of their income on rent, commuting, and essentials. Students also have lots of debt over the past decade (15k on average). Owning a car is expensive, but so is public transport (esp. for a family). Renting is expensive, but so is buying a house. > Income tax brackets range from ~40-50%, while corporate and dividend taxes are minimal - 15-20%. VAT is regressive and applies o…
> the US practically invented all these issues
I don’t believe that the Netherlands has inherited these ideas from the USA. In fact, NL invented capitalism and stock markets.
Every Dutchie I speak to about the inequality here, loves comparing themselves to the USA memes. It’s that whataboutism and the ignorance that bothers me.
Re: My Path to Financial Independence as a Software Engineer
#307"I learnt that even an average engineer with a five-figure salary can become a millionaire by her late 30s, through financial discipline and investment planning."
Yet this is not what the article is about! $300k+ is not something an average engineer makes. No shit you can become a multimillionaire if you're pulling in half a million every year.
Re: My Path to Financial Independence as a Software Engineer
#308> 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…
My masters did nothing for me. I still make under $100k. What a waste of time.
Re: My Path to Financial Independence as a Software Engineer
#309> 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
How so?
Re: My Path to Financial Independence as a Software Engineer
#310Earlier quoted context omitted.
I have so many hobbies I could occupy (happily) maybe 10 lifetimes before getting remotely bored. Why spend the only one I have "working" for others?
As a software engineer with two kids and a wife with a more stressful job than mine, I have no hobbies anymore. I don't even work crazy hours.
Your kids are your hobbies. Don't you want to spend more time on them?