Mid-40s. Married with 2 kids. 240K AUD in forced retirement savings. No house.
Ask HN: How old are you and how much do you have saved for retirement?
31–40 of 47 posts
Re: Ask HN: How old are you and how much do you have saved for retirement?
#32Earlier quoted context omitted.
How much was your employer's match? I do the minimum to get the match, which is 6%. How did you save >100% of your income at your parents?
It was either 5 or 6 match into vanguard, which is ok but not great. I saved 105% of my income for a couple years as they paid for all my living expenses including food, although I went shopping to get groceries and cooked for them. Also this was not the tech industry… I carpooled to work so that was also free. The only thing I spent money on was a couple new iphones and alcohol/dates/entertainment, which was paid wi…
seriously 1-1.5 mil for a decent house there? Is that even for real?
Re: Ask HN: How old are you and how much do you have saved for retirement?
#33Earlier quoted context omitted.
That's what I did. Billed similar numbers for a few years, saved 80% - 90%, and am now financially independent in my late 20s.
It does seem appealing to compress it into a few years, doesn't it. But I don't think it works for me at this point. First, the math. I believe 20k gross is ~10k after tax where I live. My absolute minimum acceptable lifestyle costs 30k/year. Which leaves the possibility of saving 90k/year. So I get three free years for every year worked. Brings to mind the Ciolkowski equation. Three years for every year worked, negl…
Yeah seriously, who wants to "travel the world" in your 60s lol.
Re: Ask HN: How old are you and how much do you have saved for retirement?
#3424 years old, NW is ~300K. That's about 30k in cash, 200k invested into VTI and VT, and 70k in 401k. I achieved this by becoming a FAANG software engineer right out of college. By my projections, and assuming no major world events occur to knock my plans off course, I should be a millionaire by 28/29 and will be able to retire by my mid/late 30s. However, the more and more I work, the more I realize that I really enj…
What do you like about what you do? The problem/puzzle solving aspect? Most jobs at a faang are just building some internal tool or something right.
Re: Ask HN: How old are you and how much do you have saved for retirement?
#35Early 30s, low 6 figures in 401k. On track for a few million by 65-70.
What's your job and how much liquid assets?
Re: Ask HN: How old are you and how much do you have saved for retirement?
#36Earlier quoted context omitted.
It was either 5 or 6 match into vanguard, which is ok but not great. I saved 105% of my income for a couple years as they paid for all my living expenses including food, although I went shopping to get groceries and cooked for them. Also this was not the tech industry… I carpooled to work so that was also free. The only thing I spent money on was a couple new iphones and alcohol/dates/entertainment, which was paid wi…
seriously 1-1.5 mil for a decent house there? Is that even for real?
Yes. You can get cheaper further out, but traffic can make commuting pretty bad. https://www.redfin.com/city/1387/WA/Bellevue/housing-market
Basically FIRE approach doesn't work in the really expensive parts of the country. You need to be putting a large portion of $$$ income into housing which is not a diversified asset. We are getting 18% YOY growth now, but will not get it for the next 30 years.
Re: Ask HN: How old are you and how much do you have saved for retirement?
#37Earlier quoted context omitted.
That's what I did. Billed similar numbers for a few years, saved 80% - 90%, and am now financially independent in my late 20s.
It does seem appealing to compress it into a few years, doesn't it. But I don't think it works for me at this point. First, the math. I believe 20k gross is ~10k after tax where I live. My absolute minimum acceptable lifestyle costs 30k/year. Which leaves the possibility of saving 90k/year. So I get three free years for every year worked. Brings to mind the Ciolkowski equation. Three years for every year worked, negl…
I actually agree with you. I think taking long breaks in between jobs/clients is the better path for most people.
I just got an amazingly sweet deal:
- I was remote so I lived out of my backpack in places around the world for many years (pre-COVID)
- I got my work done fast in less than 20h/week most weeks so I had plenty of time to e.g. learn another language to a conversational level
- I was able to save $15k - $20k/month
- I took 1 or 2 months of unpaid leave every year to pursue hobbies
Had I not been able to do that, I would definitely have quit earlier and taken a long break.
Re: Ask HN: How old are you and how much do you have saved for retirement?
#38Earlier quoted context omitted.
That's what I did. Billed similar numbers for a few years, saved 80% - 90%, and am now financially independent in my late 20s.
What was your financial independence level? I figure not working at all is probably boring... so getting to a point where you have enough to quit when/if you want is probably the goal.
I initially wanted to quit ASAP and was going for lean-FI at $20k/year, but ended up negotiating a sweet deal and working a 2 years longer to get to $60k/year from investments with the 4% rule. I still only spend between $20k - $30k/year so I have plenty of room to increase my budget.
I just quit a few months ago so we'll see how not working for money turns out long term. So far it's been great. I've been pursuing my hobbies, volunteering, and doing some very light consulting (0 - 2h/week). In other words, I still do plenty of things, it's just that I don't get paid for them and can do them fully on my terms.
Re: Ask HN: How old are you and how much do you have saved for retirement?
#39I'm like 34 and I think I'm worth like £12k. No kids, no waifu, no gf. I started really late in life but I hope to build a house next year, already got the land and I think its going to be brilliant, after that I'll just continue to work, pay my mortgage, have a nice holiday every few years, drink a few beers and then expect to die alone, just like everyone else, since the beginning of time. I do care to have that cu…
love this mindset
Re: Ask HN: How old are you and how much do you have saved for retirement?
#4035. $3.5M liquid and $4M illiquid pre IPO stock from a previous employer. Started from $0 and got it by working in tech/finance as a software engineer and investing in VTSAX.
how does anyone get that much pre IPO stock? were you ever working as a director or VP?