Comment by fooker

Comment by fooker 2 days ago

If you live in an expensive city and do not have a proportional salary, obviously you are going to save less.

> Ok, are you assuming their spouse is also in tech and making at least similar?

Yes, suppose spouse contributes to household expenses, but assume separate savings and investments for this calculation. Do you see you'd easily get to 100k saved?

The difference between having a large fraction of your savings in your bank account versus invested for the last 10 years can be quite a few millions, which is what most commenters here are failing to see. I'm sure the story was different between 2002 and 2012, but that was not what I talking about.

matwood 2 days ago

Ok, so you need 2 people working in tech making near top end salaries for the area? You do see how this simple idea of saving 100k/year isn't so simple for anyone outside of FAANG?

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fooker 2 days ago

What's a realistic number in your opinion?
I managed to save about 100k per year in Denver and Salt Lake City with mid tier tech and govt lab jobs. I'm suspicious of the claim that Atlanta is significantly different. From what I have seen, it's usually bad financial decisions.
And for context, saving about double that during and post COVID by obtaining a remote job where the employer does not discriminate by location too much other than for maybe career growth.

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- raw_anon_1111 2 days ago
  
  I posted calculations. $170K a year after taxes is $9900 a month before health insurance. To save $100K a year since only some of it would be pretax means you are living off of around $1600 a month.
  And while I work remotely, remote jobs are getting more scarce and more competitive. Every job gets hundreds of applications within the curse few hours.
  
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raw_anon_1111 2 days ago

> If you live in an expensive city and do not have a proportional salary, obviously you are going to save less.

I assure you that my hometown in South GA (a cheap city) didn’t have $170K a year developer jobs.

A friend who moved to Columbus GA after college in 1997 I doubt is making $170K now.

I know my friend who still lives in Atlanta and is a lead developer at Home Depot (one of the few F500 companies based in Atlanta) just crossed around $170K and he has been there 10 years.

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