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Personal Finance Lessons for Technology Professionals

troyhunt.com

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Re: Personal Finance Lessons for Technology Professionals

#2
I expected a better article to be honest. Some of the ideas are correct, but I think the perspective is overall wrong. For one he is probably ten times richer than the average tech worker.

But you don't want to be rich as much as you want to be wealthy. And that isn't just about money. My friends in other industries didn't make as much in their twenties, but the are relatively wealthy in their thirties. Their career, prospects and family life is generally better than my friends in the tech industry.

The whole article is basically all the other things you should do and manage to try to become successful. Most of it unrelated to technology. That isn't wealth in my book, nor is it happiness.

Re: Personal Finance Lessons for Technology Professionals

#4
post #2

I expected a better article to be honest. Some of the ideas are correct, but I think the perspective is overall wrong. For one he is probably ten times richer than the average tech worker. But you don't want to be rich as much as you want to be wealthy. And that isn't just about money. My friends in other industries didn't make as much in their twenties, but the are relatively wealthy in their thirties. Their career,…

I agree. I respect Troy enormously on the subject of security (and making that subject more accessible) but I saw one of his "Hack your career" talks last year and found it to be much too focused on money, along with a big dollop of survivorship bias.

Re: Personal Finance Lessons for Technology Professionals

#5
Not really for tech professionals exclusively. His reasoning should really be replaced by: 0. Get a well paid job.

Theres also this "Bad debt is the likes you have on a credit card. It's almost always accrued on a depreciating asset (for example, a new TV) and it's very often at a high interest rate"

Why is depreciation always mentioned as a problem of bad debt? My house will depreciate if I don't maintain it.

Surely bad debt is a combination of interest rate, and whether you actually need, and can afford the thing you're buying on credit.

Re: Personal Finance Lessons for Technology Professionals

#6
I'm in my (very) early 30s and I found it very interesting. I don't necessarily agree with the entire mindset, but overall is one of the "I should have read it 7 years ago" articles.

Most of the "lessons" are not groundbreaking, they are rather things that are obvious and most of us know about. The value for me came from having them all written down in an organized way. It's much easier to refer to something more tangible than your memory.

One thing that bugs me and puts me off is the financial literacy that Troy mentions. I try to translate some terms to my mother tongue only to find that, even then, I still don't really understand them.

Does anyone has any pointers on how you can start improving on this like finances 101 or something?

Re: Personal Finance Lessons for Technology Professionals

#7
post #6

I'm in my (very) early 30s and I found it very interesting. I don't necessarily agree with the entire mindset, but overall is one of the "I should have read it 7 years ago" articles. Most of the "lessons" are not groundbreaking, they are rather things that are obvious and most of us know about. The value for me came from having them all written down in an organized way. It's much easier to refer to something more tan…

I think it highly depends on where you live. Although some rules are universal, many aspects rely on taxes and laws in your country/area.

Re: Personal Finance Lessons for Technology Professionals

#9
Quite a disagreeable post, in my opinion.

> Which leads me to the "but money can't buy happiness" position so many people have repeated over the years. Bull. Shit. Anyone who has ever said that simply doesn't know where to shop.

If happiness for you is about things you buy in shops, then you are a shallow person, and you are missing out. A lot. In fact you are poor, but in a spiritual sense. The next statement: "money spent on physical items can bring people a huge amount of pleasure" reinforces the impression that you have some concepts confused.

It's great to have cool stuff, and thanks for the probably sound advice on how to achieve that. You don't have to try to convince (yourself?) that this equates happiness.

Re: Personal Finance Lessons for Technology Professionals

#10
post #3

I enjoyed the clip on taxes: https://www.youtube.com/watch?v=DBg7DnQjjcY

Yada Yada Taxes are theft... oh my.

Just gotta love how this white, Australian born cis-male was educated in a public school, going there every day over public roads, in a town kept safe by public police, in a house that never burned down because of public firefighters, never fearing saying the wrong thing in a free constitutional democracy protected by judges, politicians and a military — lecturing everyone about that TAXES ARE THEFT, BADLY SPENT and he did it ALL BY HIMSELF.

Smart boy, bravo you combined the vulnerabilities of three dozen international laws to get down to 1,3% combined tax rate.

I don't even have a word for people like this.

Here's my take:

youtube.com/watch?v=4K5fbQ1-zps

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