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A comment on The Prestige Trap: finance, big tech, and consulting. Parent comment

Re:The Prestige Trap: finance, big tech, and consulting by ryandrake on Saturday November 14, 2020 @11:41PM (#25098308)
Yea, I'm a big believer in setting goals, and then taking the "most likely" path to get there. My career decision method (disclaimer: it might not work for you) boils down to this:

1. Estimate $X: how much $$$ investment do I need in order for my family to live off interest for Y years so I never work again? For me right now, $X is 5M and Y is 40 years.

2. What do I need to do right now in order to get closer to $X? Maybe it's "study computer engineering". Maybe it's "get a job in tech". Maybe it's "apply for a FAANG company". Maybe it's "Go for promo". Maybe it's "Add more to my retirement savings". Maybe it's even "Change my entire fucking career, I'm at a dead end." Whatever it is will be different for whatever stage of life I'm at.

3. If not at $X, GOTO 1.

4. Retire and do whatever I really want to do with my life.

That's pretty much it for my state machine. I wish I figured this out in my 20s--if I did, I'd be much closer to step 4 than I am now in my 40s.

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Re:The Prestige Trap: finance, big tech, and consulting by hectormalot on Sunday November 15, 2020 @02:48AM (#25099165)
I once read a book that described this line of thinking as the “deferred life plan”.[1]

At some level I think everyone is pushing some part of ‘what I really want to do’ to the future. I know I do. At the same time I think it’s important to remember to enjoy the years leading up to step 4, even if that makes the overall path less efficient.

1: the monk and the riddle

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Re:The Prestige Trap: finance, big tech, and consulting by abdabab on Sunday November 15, 2020 @02:32PM (#25104002)
> to live off interest for Y years

You don’t have to live off interest to retire. 4% withdrawal is good enough [1]. You might be lot closer to retirement than you think.

[1] https://www.bogleheads.org/wiki/Safe_withdrawal_rates

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Re:The Prestige Trap: finance, big tech, and consulting by burntoutfire on Sunday November 15, 2020 @10:44AM (#25102011)
> Retire and do whatever I really want to do with my life.

Do you know what that is? I suspect most people don't, especially after spending 20+ years in various jobs.

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Re:The Prestige Trap: finance, big tech, and consulting by ryandrake on Sunday November 15, 2020 @11:54AM (#25102572)
Oh yea. I have a long list of things I'd be doing if I wasn't filling out TPS reports 5 days a week. Some of them I've already started, but on nights and weekends. I can't wait to retire, and know exactly how I'd take advantage of the time!
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