What will the salary of a coder be like in 10 years?

Updated on : January 21, 2022 by Alena Abbott



What will the salary of a coder be like in 10 years?

Software developers tend to do a little better than the typical white-collar worker in their area. So if you are currently in an area where a non-technical office worker makes $ 60K USD, a mid-level developer probably makes around $ 80K.

There is a small percentage of developers who do better than this, usually because they have shown that they can have a huge impact on the bottom line of their employers. These senior and lead developers could make $ 100K or $ 125K on the same thing I mentioned above. Engineering managers and high performers could even do a little better.

So basically it will depend on where you live, your level of experience, and the skills you bring into your organization, but generally speaking, coders earn the head of household salary. It is a good field to be in.

You can do this if you are disciplined, have no dependents, and are healthy (no medical bills that interfere with your plan). You will also do better if you are in a state with no state income taxes and low property taxes.

A salary of $ 70,000 will end up being roughly $ 60,000 after federal taxes and average deductions. That's a net income of $ 5,000 per month, and you will have to live on $ 2,000 or less for the next ten years. This is doable if you are healthy and single.

The remaining $ 3,000 per month must be invested. There are a variety of vehicles for this with different levels of risk, but as

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You can do this if you are disciplined, have no dependents, and are healthy (no medical bills that interfere with your plan). You will also do better if you are in a state with no state income taxes and low property taxes.

A salary of $ 70,000 will end up being roughly $ 60,000 after federal taxes and average deductions. That's a net income of $ 5,000 per month, and you will have to live on $ 2,000 or less for the next ten years. This is doable if you are healthy and single.

The remaining $ 3,000 per month must be invested. There are a variety of vehicles for this with different levels of risk, but since we're playing it safe here, let's assume your net return (after taxes and fees) is 4%.

Three thousand dollars a month invested for ten years with a net average of 4% equals $ 444,528.

It is a good amount of cash to play with.

I have a few cabins that were purchased for under $ 200k and generate an average return of $ 3,200 per month each as vacation rentals. That is the "net for me" number after the management company takes your reservation and cleaning fees. From there, I just have to pay the bills associated with them - I have no mortgages, but there is still electricity, TV, Internet, property taxes, insurance, etc. That's roughly $ 600 a month in bills, so the true net revenue after all costs is roughly $ 2,600 per cabin.

If the goal was to fully retire with nothing but my $ 444,528 in hand, I could buy two of those, pay cash for them, and put them on the rental program. At $ 200k each, and with each generating a net income of $ 2,600 after all their associated bills are paid, that's $ 5,200 a month coming in, about the same as what he was earning working.

So yes, it is doable. The most important thing is to stay debt-free so your money doesn't go out the payment door.

Honestly, I wish high schools would teach these things to young people. Even just $ 1,000 a month at 4% net invested from age 20 to 30 turns out to be nearly $ 150k. That's enough to buy a home in most of the US Most Americans could literally live in a paid home in their 30s to 35s if they were smarter with their money when they were younger.

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