Save and invest 50% of your income when times are good. After 10 years you have f u money. Then in times like these you can just kick back and watch the circus.
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It might not be F U money, but I’ve only been here 6 years. I married while working here. With our incomes, we became mortgage free while still investing. We did delay kids for a few years.
With a kid, we don’t have F U money, but we have plenty of time to find a job. I’ve joked to myself that Intel must encourage people to take extravagant sabbaticals to force them to keep working to pay the trips off.
Thank god I have been making financial prep since 2016 when me and my team faced a potential layoff during the famous ACT. That experience was a wake up call, which helped me prep for a potential unemployment up to 1-1.5 years. I am grateful...
@b0: 5M is a nightmare 😂
https://www.youtube.com/watch?v=m0sRrsara9c
@OP, Sound advice but sometimes it’s easier said than done especially when you are young and trying to raise a family. Yes you have to live below your means and invest that’s for sure, will it give you the “FU” kind of money to live on, that’s a big question.
This is sound advice for anyone. There is a credit crunch coming.
Intel folks are the smartest around!
@OP, too bad we didn’t cross paths earlier - who knows how things could’ve turned out for me.
OP is correct. I took the ERP last year and had been saving nearly 75% of my take home pay for a number of years. Built up several million over the past 10 years.
Drove old vehicles and subscribed to nothing. It's more about rejecting the consumer culture than living like a homeless person or whatever.
You can look it up, but there is a calculation for this approach. Lots of people have done this.
I concur with the OP. I have 5M which is FU money for me after working here for about 12 years. Intel was my first and only job and I joined as a g7.
Most people just spend too much. It has always amazed me how people at tech companies are living paycheck to paycheck even though they are earning well into 6 figures. Not having debt should always be the goal.