The "lifestyle inflation is evil" mantra never made sense to me. The definition I usually find is "living better than a college student once you are a working professional," so apologies if you mean something different.
I was raised to save 15% for retirement, to never carry a credit card balance, to build a 6 month emergency fund, etc. All of these priorities come first. But, after they are funded:
I am in software in part because because I like it, but also because it enables the life I want: a decent apartment to myself, a decent car, some international travel, not having to agonize over small day-to-day purchases. I want these things much more than I want early retirement (which is not particularly useful if all I can do with it is sit in a low-cost-of-living-city home and eat Ramen). If you told me I'd be a broke college student forever, I'd probably go into theater.
Why should we compromise parts of our life for more money, and then carry that money in our savings accounts perpetually? It really seems like you should either use the money in a way that's important to you, or optimize for free time instead.
Silicon Valley as we imagine it might die, and I'm set to absorb a few months. I can't imagine the world will stop wanting code. And if it does, I can change careers like my parents both did in their 40s.
I think he's referring to how most people do it - carrying debt, little or no savings, paycheck to paycheck no mater how they make. And when they do get a raise, instead of putting the extra money towards getting on track financially, they just bump up their lifestyle so that they're always living right on the edge of what they can manage.
I remember moving to SF and making ~$110k, and renting a ~$2500 studio in a mediocre part of town with no car (I got a motorcycle eventually) and it was difficult to save any money, even if I wasn't bankrupting myself.
there's always some penny pinching proselytizer trying to tell other people how to live.
i find it better to focus on making more money.
They say "$2k for an apartment? That's way too much! Why don't you move to [place]?"
Honestly if you haven't rented an apartment in the last few years, you have no idea. You also have no idea how lucky you are to get that rent control subsidy.
You can go manager or freelancer, of course.
I was stoked to move to cheaper area and work remote for these reasons, but it put a serious brake on career/income growth. And all it takes is some old-school mgmt to come in and then you are treated like some pariah.
The property tax rate is 1.1826% of assessed value in SF (1% state + a small % local). And your initial assessed value is based on your purchase price.
I think it's more realistic to say you'd be spending close to 4500/month net assuming you didn't live in a place with an HOA. If you live in a condo with an HOA, you could easily be spending 5000 to 5500/month.
On the plus side, at least you get to deduct all that mortgage interest and property tax on your federal taxes. When you are paying 3k/month+ in interest and taxes, that's a really nice tax advantage over renting a similar property.
Not only do you need to try and save as much as possible (which is really hard if you are not single and able to live with roommates), you need to be constantly learning.
If you're attracted to the boom, but don't have the wherewithal to get rich, by definition you're not the type of person who plans well.
Too many engineers today, perhaps like sports players, take a big salary, project it across 30 years and then say "Wow I've got millions headed my way, do I really need to bag my lunch?"
I've watched as they became both broke and depressed as the wave that was supporting those salaries and the technology that was supporting their employment have broken (as they always do) and they are suddenly "too old and too out of date."
Like the guy who was making $200K/year as a SOAP architect for some package that managed really expensive enterprise server and storage gear. When the wave passed and people moved to cheap white box servers in abundance using things like Docker or Chef to run and manage them, this guy walked into a world at 45 years of age with zero applicable experience to your distributed server cluster based company. And he is slowly burning what savings he had because the only entry level programmer job he could get is paying him $85K and his take home pay doesn't completely cover his burn rate (he optimistically expects to be promoted to a high paying job as soon as they see what he can do.)
If you are living the high life as an in demand engineer please don't be that guy. Start planning to provide funds for your kids education, or if you're not having kids ever then a fund to pay someone else's kids to take care of you when you're too old to work. Cut out recurring expenses in your life where ever you can and put excess money into savings or investment vehicles so that it can start working for you by earning more money. Understand that life is change until you die. Anticipate change to avoid having change drive your decisions.