[meowface]

Keep in mind software dev salaries often aren't as high in states outside of CA and NY, especially when working for smaller companies and companies that aren't tech-centered. Saving $2750 per month would be far too difficult for many software devs in other parts of the US.

I do agree that saving a lot early on is a good idea though.

[nilkn]

One big life hack is to learn to balance salary with cost of living. It isn't always about pursuing the highest possible salary, because that might mean you're paying most of it in rent.

Consider a $75k salary in Texas. That's $4766/month net (or thereabout), due to lack of state income tax. Let's say you pay $1k/month in rent (very realistic for most of Texas). That leaves you with $3766. That $2750/month figure won't be too far off if you don't have any dependents and live frugally, especially if you take advantage of tax-advantaged savings (like a 401(k)).

The thing is, you can make more than $75k in Texas, especially once you've got a few years of experience under your belt. So while I completely agree that it's not going to be attainable for everybody, I think it's not so far off as many might think.

[meowface]

Absolutely. Unfortunately, I live in a state where housing costs tend to be unusually high, with salary not that much higher than average to compensate (Maryland).

[Bahamut]

I just got out of DC myself - the salary in the region definitely does not match up to the housing costs. You can get a little smaller apartment in Silicon Valley for ~$2k and make significantly more money out west, which was a powerful incentive to move out of DC for me.

Saving is especially a challenge for me since I have an extraordinary amount of debt from a bad family situation financially - it's a miracle I landed in such a high powered career as software engineering. I have more debt than most in the profession I believe (~$200k, no house or car), which is just a bad luck of the draw. However, for me this underscores how much harder I have to work to succeed even more so that I have more of a fighting chance against my financial odds.

[dennisgorelik]

What stops you from moving to Texas (or someplace else)?

[meowface]

I may move in the next few years. Just not practical for me right now. Plus, I generally like Maryland's other aspects.

[pekk]

That take-home isn't realistic. Even in Texas, you are still paying substantial federal taxes.

[nilkn]

It's completely accurate. It already takes into account federal taxes, medicare, and social security witholdings. It does not take into account 401(k) deductions. It also assumes no copay on insurance, which is the case at many tech companies.