"by age 40 you should have savings equal to three times your annual salary" Jesus Christ this is ruinous for people who wasted away for years in grad school before taking a tech job in their early 30s
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I'm saving about a a quarter of what my gross income is every year (and the taxes are Ruinous and rent is another eighth of pre-tax gross) god assuming I continue this and no net change in my portfolio's value or my salary . . . I end up at maybe 1.75x my salary at 40 brutal
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Replying to @eigenrobot
i normally wouldn't comment, but you mentioned wanting motivation to save more, so here's my advice: if your rent is an eighth of your gross, aim to make your other expenses no more than another eighth - or to put it another way, try to save almost a half of your gross income
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Replying to @anti_nihilist @eigenrobot
(err, i should have said to use the savings money to pay down debts if the loan interest costs you more than you can feasibly make in investments. what do graduate level student loans cost in interest these days? google says 6.8%, which sounds... extremely high)
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Replying to @eigenrobot
very nice! great move. still, scary to think that inescapable (assuming you stay in the US) loans for graduate school are charging that much interest...
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Yeah it's bananas Just bananas
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