Earning too much unnecessarily

Undisclosed xyzabd
Oct 20, 2018 28 Comments

I feel most of the people here,including me are earning too much and unnecessarily. We don’t even get the urge to donate much ; the most we do is during tax time for charity to shave off some taxes.

Unless you are one of the flashy types planning to have 5 cars/3 mansions etc, a net worth of 5M$ or so should suffice 1 life time of living and possibly even bestow enough inheritance for the next Generation. We gotto remember that our kids shall also most probably have the ability to earn decently. Case in point is my parents being in middle class and ensured that I got decent education to fend for myself. I sometime regret that parents didnt enjoy their life taking much needed vacations etc.

If the above if true, a total compensation average of 300K between 30 to 65 years should suffice. Why chase the unnecessary 0.5 to 1M$/yr and waste the active life currently sacrificing weekends etc? Most of the money saved is probably going to be shaved off from estate tax or may end up in someone else’ hands.

Thoughts?

comments

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TOP 28 Comments
  • Intuit PzyY83
    Been going through this thought myself. Especially in Bay Area people are miserable despite making so much. Just make your money for a few years then get the fuck out
    Oct 20, 2018 2
    • Undisclosed FastPapuan
      The Bay Area is right behind Seattle for depression.
      Oct 20, 2018
    • Microsoft qwerty🎉🐦
      My plan is to work in the Bay Area after graduating for about 5-7 years max then move out of that shithole to somewhere with a better quality of life like Austin
      Oct 20, 2018
  • Proofpoint foodtruckj
    One of the most thoughtful post I read here.

    Remember people here chase positions and good work environment and the TC that comes along with it.

    People solely motivated by TC are generally less happy on the long run because they never feel satisfied no matter how much they have.
    Oct 20, 2018 0
  • Google xwMn67
    Why do you think I want to work until I'm 65? Or have kids? Let me live my best life :) kthanksbye
    Oct 20, 2018 0
  • New nfs
    Money only solve 1 problem : your financial problem. The reason to earn a lot is because after 40, your chances to earn 300k or even have a job reduces drastically. Let alone towards 65. That's why it is important to save your money for a secure future.
    Oct 20, 2018 5
    • New EVlp62
      After 40, really?
      Oct 20, 2018
    • Undisclosed xyzabd
      OP
      Thats baloney! Check what your Sr manager or director or VP’s age is. I bet no ody is below 40. It is after 40 that you are almost sure of getting 300K or more(if you made decent progress in career before 40) as TC without too much slogging!
      Oct 20, 2018
    • Microsoft parisien
      Not everyone gets to be a director and VP.
      Oct 20, 2018
    • Microsoft ltYe87
      Not everyone can get a 300k job if laid off at 55
      Oct 20, 2018
    • New nfs
      Not everyone will become senior manager, plus do the math - senior manager leads 30-50 people?director leads 200 people? All of these people become a manager?
      Sounds like you are young and need to gain more experience in this field . Sure people can find a job after 40 in tech, but as developers it's alot harder and they need to lower their salary to get accepted. After 50 it's way worse...
      Oct 21, 2018
  • Amazon Mr. Popo
    What an awesome post!!! Cheers mate, thanks for posting this. I feel you.

    This corporate life is a giant trap. OP: you will go far in life if you keep thinking this way.
    Oct 20, 2018 1
    • New Friyay.
      Agreed. Money comes with it's trade offs - less time at hand, stress on the eyes, poor posture, unhealthy eating habits, poor social life, mental exhaustion and stress. I would only be willing to give so much to the corporate life.
      Oct 20, 2018
  • Facebook hyper
    Also assuming you keep making 300k/year for ever. Things change my friend.
    Oct 20, 2018 0
  • Microsoft onehunt
    Don't have anyone do to anything meaningful over the weekends
    Oct 20, 2018 1
    • Undisclosed xyzabd
      OP
      Lol.. as if you have anything meaningful than come check blind and pass on smartass comments! Go get a life...
      Oct 20, 2018
  • Microsoft TacoBoss
    FIRE. Work hard young, chill rest of your life. That's the dream
    Oct 20, 2018 0
  • Undisclosed Yacoub
    Try to help others change their lives with education or other areas. God granted you means so you are responsible in what you do with them. People who are selfish and only looking to have more and spend more on meaningless materials are looking for the same thing you are looking for except they went to search for their life purpose in the opposite direction.
    Oct 20, 2018 0
  • Facebook dx
    it’s nice to be financially independent before 65
    Oct 20, 2018 0
  • Google UBdG56
    I agree with you except the kids part. Admission rates to top colleges are 4-5%, and competition is more open and just getting tougher and tougher. Don’t rely on the opinion that your kids will be better off than you are. I have some cousins in high school, and it’s brutal and only gets worse every year.
    Oct 20, 2018 1
    • Undisclosed xyzabd
      OP
      Agreed but ... off the 5M$ or above that one saves, can’t we afford 500K/kid(529 plan from their birth) for their education in any of the top colleges?
      Oct 20, 2018
  • Intel Ttl
    1) I think your 300k is too much and 100k is about right.

    2) I do think the tc myopic sw engineers are creating their own bubble
    Oct 20, 2018 1
    • Undisclosed xyzabd
      OP
      Now that is the other extreme! 100K for 30 years TC means you get to save 10K/yr or so after taxes! You shall neither be able to afford a house nor save even 500K for retirement or for your healthcare costs! And unforunately if you pass away earlier than your retirement age, you leave your family in a lot of trouble! There needs to be a middle ground for TC to be around 250K atleast - to be safe in the US!
      Oct 20, 2018
  • Apple CMDK22
    Why do you care what other people are driven by? If it’s money because people want nice stuff then so be it. You do you.
    Oct 20, 2018 0
  • Google goodmood
    Insecure overachievers cannot live without making big sacrifices to chase a goal. Now the goal has become higher TC, which they can chase for a long time. Also, insecure people like social validation, and high TV tends to earn them a few envious eyes during social gatherings.
    Oct 20, 2018 0
  • Microsoft Ink8i
    Earn more, retire early
    Oct 20, 2018 0
  • Google slobb
    While you're onto something, I think you're missing part of the optimization problem. Yes, you want to make as much at you can for as little effort as possible within reason when working. But also, you have the problem to optimize consumption so you have $0 on deathbed. Difficult since most people don't know when they will die or what they want out of life.
    Oct 20, 2018 0
  • SpaceX _x
    OP is assuming knowing the general profile, which is a big if. One thing for sure we don't live forever.
    Oct 20, 2018 0

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