> things like saving for retirement and housing costs are higher the older you get
I can relate to KIDS blowing up one's monthly budget. But retirement and housing?
I set aside the same percentage of my income for retirement as always (the raw number may be higher as my income climbs, but I've always approached it as a percentage). And my mortgage will be paid off free and clear in my 40's, while most of my 20-something colleagues burn obscene amounts on monthly rent for tiny apartments. Because they'd rather live in some trendy gentrified spot in the urban center, than have a house in some non-sexy and supposedly-racist suburb.
If it weren't for daycare expenses, my monthly needs would be a fraction of what they were two decades ago. And I'll be done with daycare in a couple more years.
> don't job hop, settle into a company
This is atrociously bad advice. If you are going to remain an individual contributor, rather than exit into a management track, then it becomes more important to move around and keep yourself relevant as you age. Not less.
> move into management, again, a higher leverage area.
If you genuinely want to move into management as a matter of advancement, because you are tired of coding and a completely different career intrigues you, then fine. But if you don't really want to be a manager, and are just doing it for salary reasons, then I can say from experience that you're setting yourself up for misery. I was fortunate enough to come to terms with this in time to turn back, before the detour caused long-term damage.
Good points about kids being a big expense. I know many folks who are upping their retirement savings, as a percentage, as they get closer to retirement.
As far as not being a job hopper, I think that you have a point, staying at a company can cause your skills to become narrow. But showing loyalty over your career might lead an employer to believe you when you say "I am overqualified for this job but I stick to the jobs I have".
As far as management, I think everyone should try it, just because it gives you an appreciation for how hard management is, but I concede your point that it is an entirely different profession and you shouldn't move into it solely to stay employed.
In 7 companies since leaving graduate school, I have seen precious few examples of "management" that weren't exemplars of the Peter Principle. It's become synonymous with "bureaucrats" for me.
The only flavors of management I would ever be willing to climb out of the trenches for would be a very technical, very creative form of management or possibly a founder-level role. All the rest seems so boring, a lifetime of meetings, meetings, meetings, and spreadsheets.
I can relate to KIDS blowing up one's monthly budget. But retirement and housing?
I set aside the same percentage of my income for retirement as always (the raw number may be higher as my income climbs, but I've always approached it as a percentage). And my mortgage will be paid off free and clear in my 40's, while most of my 20-something colleagues burn obscene amounts on monthly rent for tiny apartments. Because they'd rather live in some trendy gentrified spot in the urban center, than have a house in some non-sexy and supposedly-racist suburb.
If it weren't for daycare expenses, my monthly needs would be a fraction of what they were two decades ago. And I'll be done with daycare in a couple more years.
> don't job hop, settle into a company
This is atrociously bad advice. If you are going to remain an individual contributor, rather than exit into a management track, then it becomes more important to move around and keep yourself relevant as you age. Not less.
> move into management, again, a higher leverage area.
If you genuinely want to move into management as a matter of advancement, because you are tired of coding and a completely different career intrigues you, then fine. But if you don't really want to be a manager, and are just doing it for salary reasons, then I can say from experience that you're setting yourself up for misery. I was fortunate enough to come to terms with this in time to turn back, before the detour caused long-term damage.