How do you realistically prepare for retirement while working in tech?

Two ways come to mind re: retirement. Luck/skill into a big payout via startups or tailor a series of jobs to get you a paid-off residence someplace you'd like to live. Carrying a mortgage into retirement is just too much of a financial restriction for most folks.

You need retirement savings that will cover expenses over any government pension you might get. I assume you're in the US, so there's little chance of a company pension... Basically, save as much as you can while living a reasonable lifestyle. And the killer question is whether or not you have kids - which, usually, suggests a partner having similar decisions. DINKS have more financial flexibility but less populated lives.

In a way, you should "burn the candle at both ends" while younger. Deferring everything until later puts you at risk to not having the physical or mental means to do what you'd like. Or, not having the people you'd like to do them with. I guess you could say "don't waste time". You only get so much and it grows valuable as you age.

And store up memories when you're young. You'll spend them when you're old.

Your savings rate is a lifestyle choice.

eg, let's simplify and assume spherical cows, no inflation and no ROI. If you save 50% of your income, 1 year of work is 1 year of retirement. If you save 25% of your income, 3 years of work is 1 year of retirement.

So you should probably read bogleheads, live below your means, and max out your 401k/403b/roth ira/etc with low-cost index funds. or just yolo it on stonks and hope for diamond hands.

How fast you fire is a function of your savings and burn rate. The more you save and the lower your burn rate, the faster you fire.

https://www.mrmoneymustache.com/2012/01/13/the-shockingly-si...

I do not plan on living until retirement given the current state of things and my age. Most of my age cohort seem to be similar -- we will never be able to afford a home, we will never have a pension.

Only way out is jackpot -- lottery, startup sale, AI slop millionaire.

The best thing to do is to be prepare to switch your career at some point. The tech industry is notoriously ageist so don't expect to retire working in the same type of job you have now.

Spend less than you make. It wouldn’t hurt to say that three times.

Don’t get caught up trying to keep up with the joneses. Nobody who matters gives a shit what kind of car you drive.

If your company matches your 401k contribution, max that out. It’s free money. You’re leaving it on the table if you don’t take it.

Even if there’s no match, max your contribution. If you’re putting in 18k/yr into index funds you’ll look up one day and have a million bucks.

Save up a down payment and buy a house. Property ownership is the path to generational wealth.