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by gnicholas
1106 days ago
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I think this is partly because young tech professionals have the ability to generate passive income via projects that require little work, unlike workers in many other professions. This obviously isn't possible if you have to show up for a job, like working as a waiter or clerk at a store. Even among white collar professions, it's not generally possible. Doctors and lawyers have to show up and see patients or clients. It's possible to gain leverage and become a rainmaker in these sorts of businesses, but there's still work and a fair amount of stress when you're at the top. Techies know it's possible to have a SaaS business that generates $50k-$500k annually, which requires 2-10 hours of weekly maintenance/support. They dream of being at the top of the dollar range and the bottom of the hours range. On top of that, they can make huge amounts of money working at a FAANG company, enabling them to save more early in their careers than doctors/lawyers (and without the student loan debt). Between these two factors, FIRE seems within reach, and worth trying for. |
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