I actually think a competent engineer making $100k plus can become rich, maybe not filthy rich. If said engineer were to max out roth/401k for 30 years, they would most likely retire with few million dollars.
As an engineer you also might decide to join a SV based company and make $200k+
or you can become self-employed and deposit $56k into your 401k.
In reality anyone making $100k+ plus and living in M-LCOL area can become quite rich when comparing to other places in the world. That is if you are not buying/leasing new cars all the time and living humbly.
Sure, that's "rich" in the same sense as someone who enjoyed years of returns on a passive index fund imo. Very rich relative to most of the world, not fabulously wealthy like the few driven and lucky startup lottery winners.
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I actually think a competent engineer making $100k plus can become rich, maybe not filthy rich. If said engineer were to max out roth/401k for 30 years, they would most likely retire with few million dollars.
As an engineer you also might decide to join a SV based company and make $200k+ or you can become self-employed and deposit $56k into your 401k.
In reality anyone making $100k+ plus and living in M-LCOL area can become quite rich when comparing to other places in the world. That is if you are not buying/leasing new cars all the time and living humbly.
Sure, that's "rich" in the same sense as someone who enjoyed years of returns on a passive index fund imo. Very rich relative to most of the world, not fabulously wealthy like the few driven and lucky startup lottery winners.