Early retirement at IT

Tue, Jan 19, 2016

I am a big follower of Mr. Money Mustache. For readers with a Swede face asking “Who’s that?”, that’s how he describes himself:

Mr Money Mustache is a thirtysomething* retiree who now writes bout how we can all live a frugal yet Badass life of leisure.

As a person working in IT, I was thinking everyone of us knew that we all should grow a money mustache, start saving and investing to enjoy an early retirement. But truth is quite far away. The most of people I see around are spoiled by their fat pay-checks, wasting it all on trips, expensive shoes, clothes and other forms of weakness as Mr. Money Mustache would say.

But I hear people saying/thinking: “I don’t want early retirement, it’s not possible anyways. And I have a job providing cash flow and enjoying a good quality of life which I worked hard to obtain”.

Well, social security in Turkey says that retirement age is between 60 and 63 depending on how long you have been working. A surprising fact is I have never seen someone 60 years old in software industry in Turkey.

A study about software industry in Turkey made in 2005 (can be found here) states that IT people in Turkey have following age distribution:

26 - 3036%
31 - 3520%
36 - 409%
40 - 455%

I think the situation is a bit more balanced after 10 years, but still those numbers are screaming violently that early retirement is not optional, but it’s must.

So it’s better to think twice or twenty times before buying over-priced clothes, tools and toys those used for a few times and then thrown away and start enjoying freedom of having less things, planning a safe & fun future.

  « Previous:
Next: »