Re:Ask HN: Software Engineer hitting 40: what's next?
by franciscop on Saturday November 27, 2021 @11:33PM
(#29366174)
Sure, and I know someone who got like 80k inheritance and he bought a jet ski and a car, crashed the car and sold the jet ski within a year.
Not all developers can retire within 25, but what I'm trying to say is that a significant fraction of EU developers can, if they learn and are smart about their money, either retire very lavishly at the normal retirement age or retire 10-20 years earlier with a bit of luck/extra effort.
And some costs are just fixed for everyone, so there's a lower limit to consider
The bottom line really is the balance between CoL and earnings rather than absolute earnings.
To achieve a given fraction, R, of your career salary in retirement you need to give up a fraction, S, now. My claim is that most people won't be willing to give up S to achieve the R they feel they need for early retirement (at say 50).
Personally I feel that unless you're 20-25 and have hit it out of the park with a great career starting salary you may as well forget about it and look to retire later... maybe start investing for your kids instead. Give them the 20 year headstart they can't give themselves. Investing for a decade or two longer is the magic sauce