Sure, I can go make furniture out of wood for $150 a month (and I did at some point in my life), but I'd rather keep my cushy lifestyle and stare at a screen for 16 hours a day, thank you very much.
Sure, I can go make furniture out of wood for $150 a month (and I did at some point in my life), but I'd rather keep my cushy lifestyle and stare at a screen for 16 hours a day, thank you very much.
I'm a programmer, my income is in the top 10th percentile, but that just means I'm in the upper middle class with the privilege to pay more taxes. I need to work until I get to retirement to secure myself financially.
That is true by definition. No matter how much or how little you make, it remains true. The question is: when do you get to retirement? Making a lot of money makes it a lot sooner.
To explain: a large chunk of our salary goes to the state's pension fund - not my fund. When I reach the official retirement age the government will allow me a pension that is scaled based on my payments while employed.
At this time I'm looking at 3 decades on front of keyboard (am 40 and the official pension age for me will be around 70).
I believe that due to market forces, engineering salaries are set as high as they can be without producing "escape velocity" for said engineers.
That said, I'm not in the US proper but in Canada, but I'm in the same position as you: highest tax band, make very good money, but unless I were to dump everything and move to an area with a much lower cost of living I will be in no position to retire before 65. Doing that (major cost of living reduction) becomes difficult once you have children.
Doesn't mean it's not true or not relevant.