Re:Tech workers who are engineering a mid-30s retirement
by bradlys on Monday April 23, 2018 @02:43PM
(#16906237)
I get that some developers at big companies make $600k+/yr but saving $15,000,000 over even 25 years requires putting away 15m/25 => $600k/yr. That's net income to be put away too. So, really you're probably making $1m/yr. I get you'll see return on investment over those 25 years but we're talking true 1% income regardless - which most software devs will never get near. (Even most in the bay area)
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Re:Tech workers who are engineering a mid-30s retirement
by dgacmu on Monday April 23, 2018 @05:46PM
(#16907751)
You're way undercounting the effects of growth. It's 342k/year saved at 8% growth: http://www.angio.net/finance/calc.html
(See the one for regular contribution required for target).
8% before inflation is reasonable historically for 25 years.
You still need a 400k+ salary to do it, but that's not out of reach in the Bay area, particularly for a couple.
Re:Tech workers who are engineering a mid-30s retirement
by bradlys on Monday April 23, 2018 @06:21PM
(#16908024)
Over $600k yearly comp required still. Tax on $600k income puts you near $330k in California.
https://smartasset.com/taxes/california-paycheck-calculator#...