alt Hacker NewsI think maybe that was implied, considering the topic of conversation and website we’re on.
That said if you’re making $250k+ a year and not on track to retire by 50, seriously please open a retirement calculator and figure out what you need to do to get there.
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Which is a pretty high salary in the US in tech generally.
That said, a lot of people in US tech can probably retire relatively early if they run the numbers and don't have a lot of external expenses.
There are a whole lot of people here who work in the tech industry but aren't working in SV. There are even a decent number who aren't in the tech industry at all.
Tax rates, cost of living differences, etc depending where you are in the world don't always make this a good salary.
Generally outside SV:
- If you are making $250+ it is at least middle management (not tech work) AND
- Only in zones where cost of living is eating this up (e.g. UK/Europe/Australia/etc can get to this equilvalent salary but costs for example for rent, food, tax, etc are much higher).
In most countries SWE is above average pay, but it isn't life changing and it still unfortunately has the boom/bust cycles.
I've met some very good engineers who have built some great large scale solutions who are on less than this salary often in non tech firms being outside of the SV area due to personal reasons (e.g. can't move due to family, too old to do the interview dance SWE has become these days, etc).
... if you're making $250+k/yr as an individual in your 20s, yes. If you've just hit that at age 40+, maybe you're just looking at a comfortable 60-67ish retirement. The US medical system gives you exposure to well into the five figures of risk per year on top of at least high-four-figures in premiums per year (at age 50). Each extra year puts an early retirement without crazy money behind it at serious risk, because your expenses could suddenly and unavoidably shoot up by tens of thousands per year for several years on end.
$250k+ a year means ~$12k monthly salary.
A semi decent apartment in SV will cost you ~$3k
Bills(phone, internet, electricity, etc) another $1k.
If you are married, groceries at least $1k.
Even if we assume you don’t do anything else in life, and you are in perfect health best case scenario would be $6k savings a month or $72k a year.
It would take you 10 years to save $720k plus whatever you make from investments.
That’s not enough to even buy you a house in SV. How are you going to retire?
Unless you assume you will get $250k straight out of college and keep up salary raises for 25 years.
Sure, if you don’t have kids, age with no health problems, never enjoy anything in life, you may be able to retire at 50 in Thailand or Philippines.
I wouldn't assume. The readership of HN is quite vast. I've never worked at big tech and don't plan to.