Re:Ask HN: Promoted, but Career Path Derailed
by loeg on Monday February 03, 2025 @01:35PM
(#42921274)
This doesn't seem responsive to GP's comment. GP didn't discuss 15 years' expenses.
Re:Ask HN: Promoted, but Career Path Derailed
by closeparen on Monday February 03, 2025 @01:39PM
(#42921313)
>but 8-15 years of pay saved provides lots of optionality.
I guess that depends how you're defining "pay" in relation to taxes and deductions.
Re:Ask HN: Promoted, but Career Path Derailed
by loeg on Monday February 03, 2025 @02:34PM
(#42921884)
It’s income, as opposed to expenses.
Re:Ask HN: Promoted, but Career Path Derailed
by dangus on Monday February 03, 2025 @01:39PM
(#42921308)
Throw 15 years of savings into the stock market and it will almost certainly double in value in 7 years.
It is most certainly transformative if you pretend you don’t have it for what amounts to a pretty short period of time.
Re:Ask HN: Promoted, but Career Path Derailed
by closeparen on Monday February 03, 2025 @02:00PM
(#42921530)
If you're saying "I'll just hang on in this job I don't like until I'm in this 8-15 range" you may find that it's not reasonable to make any big life changes from that position either; you still need to "pretend you don't have it" and keep going for another while.
Re:Ask HN: Promoted, but Career Path Derailed
by dangus on Wednesday February 05, 2025 @05:17PM
(#42956084)
Holding on to your job you don’t like for not that long to retire easily is an amazing privilege that most don’t have.
Re:Ask HN: Promoted, but Career Path Derailed
by grumpy_coder on Monday February 03, 2025 @05:09PM
(#42923959)
"it will almost certainly double in value in 7 years" implies 10% is an almost certain long term return. It is not.
10 years is a common rule of thumb to double your investment, this is a good guess since after adjusting for inflation, the real return of S&P 500 is about 6.8%. Which is about 10.5 years to double your investment.
(give or take S&P 500 being one of the best returns you will find historically)
If you're telling yourself to hang on until you reach this point... just realize that you may reach it and find you're still stuck.