Retirement at 30 in Bay Area?

New biikgd
Feb 13 32 Comments

Is it possible to retire at 30 in Bay Area with a TC of $500k? I spend $60k/year (live with someone 2k a month). Currently 24.

I want to buy a house (1-1.5mm) and retire in Bay Area. Keep in mind that my tc may get higher in the next few years. I work 2 full time jobs.

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TOP 32 Comments
  • why would you retire in Bay Area though lol; I cannot wait to leave this dump
    Feb 13 2
    • You don’t want to enjoy the high cost of living into your old age?
      Feb 13
    • Amazon 97unvd
      Where do you want to move to then?
      Feb 13
  • This comment was deleted by original commenter.

    • Intuit b7x1s
      Silver lining: OP will likely buy stocks at a discount.
      Feb 13
  • Google nlxS44
    The cost of the house between property taxes and maintenance will cost you $2k/month on average. To retire comfortably here you’d need the house paid off in addition to a few million cash even if you’re frugal.
    Feb 13 1
    • Intuit b7x1s
      Nobody keeps millions in cash perpetually. It don’t hold its value because of inflation.
      Feb 13
  • Walmart.com fiVn5$!Br
    I want to hear more about the 2 full time jobs... how do you do it?!
    Feb 13 8
    • New biikgd
      OP
      iOS engineer btw
      Feb 13
    • Leanplum blings
      If you can finish your work in 3 hours, couldn't you do more at the first job, get promoted quickly, and earn 500k from a single job? That is, be exceptional at one job instead of mediocre at two?
      Feb 13
    • New biikgd
      OP
      They’re very very different
      Feb 14
    • New biikgd
      OP
      @Leanplum
      Yeah... not gonna happen anytime soon. Breaking 300 TC at my age and official experience level is hard at one company. Will have to stay for at least 5 more years and move up to get to 500k. I’d rather take multiple gigs and get 500k and then move both of them together to get to 800k in a few years time. I’m not in a rush for money. I just find myself bored to death at one job and can do so much more so it doesn’t hurt keeping myself very busy. I work less than 45 hours a week anyways
      Feb 14
    • Leanplum blings
      How do you handle job2 tasks on the days you're onsite for job1?
      Feb 14
  • Wayfair dabadooee
    Troll post
    Feb 13 3
    • New begin
      Definitely. That too two full time jobs.
      Feb 13
    • New biikgd
      OP
      Umm just because it sounds unrealistic doesn’t mean it’s a troll.
      Feb 13
    • Wayfair dabadooee
      Yeah, but it does though. Trust funds don’t count.
      Feb 14
  • Amazon URsl53
    Once you save $2 million you should be ok to retire if you can keep spending at $60k.

    How you get there is up to you, but don't forget about taxes along the way.
    Feb 13 1
    • Illumina / Other
      activesite

      Illumina Other

      PRE
      Illumina
      activesitemore
      You should also have a buffer in case there’s any wealth confiscation tax measures.
      Feb 13
  • Facebook / Eng 5'6"Indian
    Yes if you consume copious amounts of cigarettes, alcohol and delicious food with no exercise.
    Hopefully you'll die before you run out of money.
    Feb 13 0
  • Medallia hierogyro
    Curious, what are your jobs?
    Feb 13 4
    • New biikgd
      OP
      Software eng
      Feb 13
    • Microsoft BcrX06
      How can you have two fulltime jobs?
      Feb 13
    • New biikgd
      OP
      Get the job done fast and manage time well. Make sure that at least one of them is fully remote or allows for wfh 3 times a week. Also don’t work in two companies that have similar products.

      As an iOS engineer there’s plenty of work in the Bay Area. Most companies have similar iOS problems and I’m fairly good at coding. I can build pretty much anything at this point (been coding apps since I was 17ish).

      Hope that helps
      Feb 14
    • Facebook TYsa84
      Dont postpone all the fun till after 30. Have fun now. Leave one of the jobs if you have to. This time will not come again. Dont be in hurry to buy house and get settled down. Travel the world. Work in different country each year. This time won't come back.
      Mar 5
  • Oracle fatalflaw
    Your TC is 10x of what used to be a good TC 20 years ago, and home prices have gone up 10x to 20x in that time. Do you really want to retire at 30 while your life expectancy is 90+?
    Feb 13 0
  • Intuit b7x1s
    24 yo and earning $500k?
    Feb 13 0
  • AIG / Product
    Raging

    AIG Product

    PRE
    Deloitte Digital
    BIO
    Counseling CxOs for AI-first strategy !
    Ragingmore
    FIRE
    Feb 18 0
  • New biikgd
    OP
    Just updated
    Feb 13 0
  • Docker bvlgari
    more like $60/hour in the bay area
    Feb 13 0