L6, now what?
Age: 33 TC: 450k (850k household) 2 kids 2 and under Bay Area $2.5M n/w (including home) $6M n/w FI target (present value, including home) I oscillate between wanting to chase the ladder, spending more time on myself and making $ to achieve FI. What would you do in my shoes and why?
What is incl home ?
Including home will edit
How much of that net worth is tied to the house?
$1.5M of which we own $500k (so $2M stocks, $1M mortgage). At some point in the future may buy something bigger, but probably like 7 years away.
You are doing great and still kinda young. You are on your way to FI by 40. Keep going.
The only reason I would continue working is your kids are really young and you want to have a role model home with working rather than doing nothing and enjoying money role models. Big difference psychological influence on kids. Whether you in stay in rat race or coast is up to you
At your level, youāre better off trying for a lateral raise and see if you canāt move up in level and TC that way. Even with the market being the way it is, youāre likely to receive more of a raise from switching jobs. However, in this market you canāt be too certain about where youāll land, so it may be worth staying out for a while. Congratulations on your success, OP! TC: 105K
You will soon see even 450k won't be a major life difference. Source, I'm at 850k now. It's reasonable to enjoy being a noob L6 for a year but eventually you will be rated against other L6 and you don't want to be the bottom rated one. For that reason you should still continue to operate with a growth mindset and promotion may come as a side effect
Thanks for the input. Yea $450k is basically what I was making pre promo (in fact I was making $550k in 2021 pre 4yr cliff), the way these work at G increase at promo time is š„. At what level are you pulling $850k, and Bay Area, Seattle or other?
What do you do at amazon that you make 850k? Are you a director?
How can you FI with 6m? Do you mean that your spouse continues to work while you retire?
$6M - $1.5M = $4.5M liquid $4.5 * 4% safe withdrawal supports $180k in expenses, which is reasonable given that includes a paid off home. All of this is present value, i.e. not inflation adjusted. At that point Iād consider us FI. Anything on top of that is a cherry on top of the cake. Weāre unclear on whether weād retire early, likely not, but Iāll let you know how we feel when we have the money.
I am at 8m and I can assure you that I am not even close to FI. 200k a year forever is not enough for 2 kids.
Leetcode harder yo
What are roles and responsibilities of L6 in Google in short? FAANG guys made bay area extremely expensive.
Seriously š¤£
Iām not kidding you might find it funny but visit Bay Area once