What TC is enough?
Seriously, all I see on blind is people working hard to get higher TC. I know it’s very necessary to be able to afford and have some sense of financial security, but after some point it’s just a number increasing in your bank account. To me, being able to buy a nice apartment, a nice car, and some very good vacations is enough, and I can probably do that with an average TC. Not sure why people are that much money-oriented.
You’re naive and ignorant, OP. The point is to quickly make enough $$$ to not have to go to work at a 9-5 job. The higher TC you make, the quicker you get there. Time is infinitely valuable. Higher TC == saved time to enjoy freedom. If you’re content slaving away at average TC to never be free until 59 years old, all I can say is good luck to you. Don’t come raging when you get laid off or when the taxes are raised by the welfare state.
Thank you for calling me ignorant. But isn’t it very boring not to work? To me that is being lazy. And when you reach your 40s, you’ll probably be able to cover costs through pension.
there’s a lot more to do in life than just work...
One of the reasons is that you don’t need to keep doing the same till your 60’s. After you have enough money you can do whatever you want, even if it doing nothing.
Same job* I meant you can retire early or go do whatever you want in your life. Well in short “Financial Independence”
You have to work hard to make more TC to retire early. You loose more time before you retire. What if you spend much time but cannot get high TC or you get high TC but don’t have chance to retire early?
You just have to make some (still significant amount) money and then that money will make more money even when you are sleeping so that you don’t have to work till you die.
That can be achieved with 200k after working for 20 years. That means you can retire by your 40s. What’s bad about having 200k? Why to try for more?
^ so that you can get there by 30 and not 40. Don’t you want freedom quicker?
Why not aim to retire early. As well, being ambitious does not mean you are only after the money. Sometimes it’s about status/power etc
Why would you want to retire early if you are ambitious? Why so lazy?
Retire so that you can focus on your ambitions and not fulfilling someone else’s ambitions doing a job for them.
So this money that your money makes will give you a nice apartment, a nice car, and some very good vacations.... But not just that this money from money also gives you time to enjoy all the above things
And this goes back to the same old thing, “time is more valuable than money” This money from your money, buys you time, sort off.
Generally, you would like to save up money for in case you will have a hard time finding a job at your later years ( lets say 40+). Other than that, if you can get more money doing the same job, why not? That being said, You probably should not focus 100% of your focus on TC, and balance that with other aspects like WLB, growth opportunities in the company, good company culture, etc...
That’s exactly what I mean! Why is it so hard for people to understand?
Age, culture, environment they grew up in, the environment they are in now, etc...
It’s not about TC, it’s about retirement. I can live well enough on a 100k TC, provided that I have my mortgage paid off and I can safely withdraw the 100k every year for the rest of my life.
Medical needs not covered by insurance you’re screwed up
Medical needs not covered by insurance is like an earthquake under your house. Let it be, why bother.
What's the definition of ur average TC!.
An engineer with a couple of yoe will make around 200k. After a couple of years working, they will be able to afford what I’ve mentioned.
Average at FAANG or hot startup yes