I wanted to share some thoughts and life lessons from my journey so far. Hopefully this helps the young demography here in some ways.
Quick background: I'm 45, been in tech for 20+ years, worked at both startups and big tech companies. Never hit the ESOP jackpot, so my wealth has come purely from salary. I've consistently performed well and even though I'm in management now, I still make time to learn new technologies.
Some honest observations: Senior Positions Aren't What They Seem: Most 40+ folks I know (including myself) are stuck in jobs they don't love, mainly because of commitments and limited options. I've actually stopped wanting to climb higher because each promotion just means doing work I'll probably hate even more. It's weird - I get paid more now but feel like I'm making less impact than when I was junior. That's just how the game works at senior levels, I guess.
Being Flexible About Life Choices: Until recently, I never thought about early retirement because I genuinely loved my work. But things change fast. Now I'm in a job I can't stand, and I keep thinking about how I could've positioned myself for early retirement to do things I actually enjoy. I had chances to maximize earnings abroad but chose to prioritize learning over money. Looking back, since work was going to become unfulfilling anyway, I probably should've focused more on financial independence. I also always planned to stay in this country, but I'm having second thoughts. I definitely want my kid to have opportunities abroad, but since I never planned for it financially, the path isn't clear.
Some Things I Got Right: Lifestyle Management: I think I did okay here. While I enjoy some luxuries, I'm still careful with spending. I focus more on creating memories through experiences rather than buying stuff.
What I Wish I'd Done Differently: Early Investing: If I could change one thing, I would've started investing much earlier and left that money untouched to grow. That single change could've put me so much closer to financial independence by now.
Some Important Lessons: Build Your Retirement Crew: Make sure you have friends you can actually retire with by 40. Thankfully, I'm covered here.
Health Really Is Everything: Yeah, it sounds cliché, but it's absolutely true. Without good health, nothing else matters. Find a sport you like and do some strength training 2-3 times weekly.
Looking Forward: I'm about 60-70% of the way to my FIRE number. Since I need both satisfaction and independence, I'm planning to explore freelancing/solopreneurship. With all these new AI tools, it's becoming easier to build something valuable that people will pay for. If I can figure this out, I might finally get that dream life I've been after. Here's hoping it works out!
Some questions
You performed well over the years. Is it fair to assume you loved your work in younger age?
What makes you hate current role? Is it because you cannot contribute hands-on. I assume its Director of Engineering which still is technical in nature.
What makes you choose life outside India. Is it based on personal experiences or others experiences?
I loved my work up until my last role as it was highly technical, aligned with my own interests and I was making a significant impact. In my current role, I am working on areas that I had worked in the past and which I am not interested. Besides it is also heavy on program mgmt part which I detest.
Two main reasons:
Getting more and more frustrated with poor infra all around. All of us are paying high taxes but don't get anything in return. The politicians have figured out the mantra to win elections which is to dole out freebies. There's nothing that we can do now other being being suckers forever.
This country has lost its moral compass and I cannot relate to its people any more. This was in today's newspaper: https://economictimes.indiatimes.com/news/india/house-sale-to-muslim-sparks-protest-in-posh-moradabad-society/articleshow/115999922.cms?from=mdr. Imagine a doctor cannot get a house in an posh society because of religion.
I know lot of the tech bros keep talking about India's decade but I don't see that. Sure, we'll have a section of people become super-rich but India as a whole will continue to be on a downward trajectory.
Please give some examples of creating memories through experience
Sure, although it will be different for everyone. What I'd suggest is to think back through your life and identify your favorite memories (that involved spending money) and double down on those. For e.g. in my case I realized my favorite memories were associated with travel, esp. the long ones. The best ones were the long-distance motorcycling trips or those slow travel/workation trips with family. What I also realized is my favorite memories were not necessarily where I spent the most. Therefore I don't generally spend on luxury unless it gives me some unique experience to remember. That's not to say I don't spend on things. I drive a nice car and have a good bike because I enjoy that experience. So if travel is your thing then push yourself out of the comfort zone. Travel with friends, travel solo, go on treks, whatever you can do.
You have been quite helpful, say I get an offer from another company and my present company agrees to match that offer, should I stay with my current company ?
Wrong question. You are essentially asking "Company A is paying me X. Company B is paying me X. Which one should I choose?" And if you are bringing in other parameters then it means you are letting your ego (you feel hurt the company didn't value your contribution earlier) or fear (getting out of comfort zone) make the decision. The answer is always simple. Whatever career path you see for yourself, which among the two options gets you there and you simply pick that. If you are not able to pick, then look for what is more important at your current stage of life. Is it work-life balance, opportunity to take on more responsibilities etc. If still no, then use the regret minimization framework. Ask yourself which decision you'll regret the least in the future, pick that and whole-heartedly commit to it without questioning. Good luck! Let me know what you decide and how you decide.
Please help us understand how did you calculate your FIRE number ?
There are standard formulas. One metric is to multiply your monthly expense by 300 (some others say 375 - read about rule of 300 or 375). For 2L monthly expense that number is 6 cr, so that's the absolute minimum. 8 cr will be comfortable (also if we use 375) and 10 cr will be luxury.
Can relate to this. I'm in my late 40s. What exactly about program management do you hate? For me it is that my team doesn't do what they're told and I can't really do anything about it but am still responsible for all deliverables.
As I mentioned, I like when I'm doing something technical. Don't really fancy tracking dates and creating status reports.
I got into a startup (informal) and invested my savings and also took loan from friends and family.
It would take a couple of years to clear up but I am happy thwt I didn't let go.of the opportunity and the learnings also realised the...
Folks, what is your definition of ideal salary that can allow you to retire at age of 45 with enough wealth to fulfil your wishes of travelling, buying house, etc.
Wanted to say Hi, what do you do, how do you see current phase of your life, how do you look at your career so far, and what do you plan to do in next 5 years, etc.