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My Path to Financial Independence as a Software Engineer

software.rajivprab.com

321–330 of 583 posts

Re: My Path to Financial Independence as a Software Engineer

#321

> 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.

The opportunity described is only common in a handful of companies in handful of cities. Outside of this it is going to be rare even in the US. Since Sweden doesn't have a large presence of these companies you are going to have to move to for example Zurich or London for it to be common. It isn't a Sweden versus US thing, it's a "achieving a high level in a major company that gives you stock" versus not. The opportunity still exists in Stockholm but requires more achievement, effort and luck because it is less common in absolute terms.

That said it sucks to work in Sweden because it's all about making money through inheritance, housing, stocks or contacts. But I guess that is how it is in many places these days.

Re: My Path to Financial Independence as a Software Engineer

#322

> 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.

> 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…

> 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

You state further down that you made this money from RSUs.

I’m not sure which bubble you/friends live in, but the absolute majority of tech workers do NOT get RSUs, even less often in the EU.

Re: My Path to Financial Independence as a Software Engineer

#323
post #257
post #214

Earlier quoted context omitted.

So you agree he shouldn’t feel guilty.

Sure, but thinking privilege is equatable to guilt is missing the point.

I don’t think anyone said that. Lots of people _do_ think you should feel guilt for privilege. Pretending those people don’t exist isn’t helping the progressive movement. It’s important for progressives to acknowledge and counter the people who wave the progressive flag but espouse the opposite of progressive ideals.

Re: My Path to Financial Independence as a Software Engineer

#324
post #315
post #157

Earlier 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…

I loved living in NL (am Dutch), and would love to move back there, but financially it just doesn’t make sense. Found it really hard to explain to my wife that: Salary will decrease, cost of living will go up, income taxes will go up, VAT will also go up, QOL will stay roughly the same. The only thing that I think is significantly better (and cheaper!) is the education. Edit: And the beer.

QOL staying the same is quite attractive.

Out of curiosity, how many millions of dollars-equivalent does it cost to buy heath insurance in retirement?

Isn’t that more attractive than what you need in the states?

Re: My Path to Financial Independence as a Software Engineer

#325
post #227

Earlier quoted context omitted.

Not going to lie, but Americans paying 100% of their kids college is kinda weird as an immigrant. My kid can take out loans and sure I’ll help, but hell no I’m not bank rolling multiple kids at full private school tuition. At least where I grew up a solid public school college was not an impediment to a good career. I’ve notice Americans tend to hyper-optimize - I love it when parents tell me they bought in Palo Alto…

“ Americans paying 100% of their kids college is kinda”. As a non immigrant it’s weird to me too. There are a class of parents who obsess about “the best”. Best schools, best tutors, best nutrition, best ‘experiences’, best neighborhood. It’s a hedonistic treadmill in the making.

Exactly. Saving $200k per kid for private college is not a “need” its a luxury. But a lot of upper class Americans see it as the “baseline”.

Re: My Path to Financial Independence as a Software Engineer

#326

Earlier quoted context omitted.

At least those hobbies that I would like seriously do - like D&D, in contrast to playing video games - generally require other people. I'm not the type of person that gets any satisfaction from alone tinkering with shit in the garage as that seems to be the hobby of most people talking about hating work. So, what do I gain when I stop working? My friends still will work, and I'm just going to have 8 hours in a day wh…

Find friends that are also financially independent.

And are into D&D? I'm going to have better luck finding that half a million job.

Re: My Path to Financial Independence as a Software Engineer

#327

I do not understand why articles like these consistently score poorly on HN? Of course it’s all based on luck, but that doesn’t make it an uninteresting read. I admire the diligence of the author, and how well they played the lucky cards they were given. I am frequently in awe when reading technical articles on HN, with people advancing the state of the art in some technology. Those people also are incredibly lucky,…

"I do not understand why articles like these consistently score poorly on HN?"

Because the article pisses me off. This is not something helpful to us average peasants. No shit you can become a multimillionaire if you're pulling in over half a million per year. Maybe some of the advice I'd good, but it would be worth more coming from someone who actually is average so we can see it as evidence. Otherwise it's some rich person telling us what works based on their theory and an experience that's nothing like our's.

Re: My Path to Financial Independence as a Software Engineer

#328
post #7

Earlier quoted context omitted.

Living off 4% works in retirement because you can in part live off principle. In early retirement it’s not going to work out nearly as well because you get the reverse of dollar cost averaging, removing money in down markets is more expensive than in good ones. You need either dramatically reduce spending when your portfolio is down or to live well below the expected returns.

The straightforward 4% analysis is a simplification. It’s pretty easy (and pleasant, even) to do independent contracting for a couple months of the year and cover almost all your living expenses - so no or very little withdrawal. Since you have lots of leisure time to explore your interests, you can also get lucrative niche-of-niche contracts in your specialty.

You can also live comfortably in most of the US on 30k per year assuming you have no dependents or disabilities. It’s simply a comment about spending not the ability to retire.

Re: My Path to Financial Independence as a Software Engineer

#329

Earlier quoted context omitted.

The masters ranking does matter if you’re international

How so?

For multiple reasons (scarce supply and large demand of visas, unfair stereotypes, etc) international hires need more objective criteria to stand out, even if it's just window dressing

Re: My Path to Financial Independence as a Software Engineer

#330
post #214

Earlier quoted context omitted.

Nobody said it was "his fault" and that is obviously not the point of the acknowledgement starting the post.

So you agree he shouldn’t feel guilty.

Guilty? No. Lucky? Yes.

I think the point of privilege discourse is to undermine the notion of moral "desert," not to encourage guilt over something beyond your control.

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