How will you reach financial independence?

DeveloperFI is a collection of actionable tips for developers seeking financial independence.

I've tagged each tip:

• plan — learn why we set certain goals
• earn — how to earn more (career or otherwise)
• save — tips to increase savings
• invest — use your savings to grow itself
• withdraw — efficiently withdraw for retirement

We're very fortunate to have careers in software engineering. Especially in regards to finance. But while a high income makes it easier to build wealth, it doesn't guarantee it. Not all tips will apply to your circumstances or preferences, feel free to skip them! I hope you find some of them helpful.

• TLDR: What should you do? What's a decent plan to reach financial independence? plan
• What is Financial Independence? Learn about FIRE, LeanFIRE & FatFIRE plan
• The 4% Rule How much do you need to save for financial independence? plan save withdraw
• Calculate Your Savings Rate The most important number to early financial independence plan save
• Ace the Interview Process The key part in earning more at your day job earn
• Negotiate Your Salary Negotiate your base, equity, bonus, and benefits earn
• Become an Effective Engineer Progress in your career by mastering your craft earn
• Automate Investments Setup a system to pay yourself first save invest
• Use Low Cost Index Funds Save on fees and diversify your nest egg save invest
• Max Out Your 401k Take advantage of employer match and tax savings save invest
• Max Out Your Roth IRA Save additional money in an IRA (via a backdoor) save invest
• Mega-Backdoor Your Roth IRA Some employers offer a benefit that allows more IRA contributions save invest
• Participate in ESPP Buy discounted stock purchase and divest immediately earn save
• Max Out Your HSA Invest money in a pre-tax (and post-tax!) free account save invest
• Use a Taxable Investment Account Don't lose your money to inflation save invest
• Use High Interest Savings It's the perfect spot to park your emergency savings save invest
• Tackle Your Debt Pay down debt in the correct order save
• Budget Expenses Save on the big expenses and keep track of your net worth save
• Save on Taxes What can you do to save on taxes? save
• Save on Housing Buying vs Renting and the importance of avoiding lifestyle inflation save
• Save on Transportation Used cars and alternative methods of transportation save
• Save on Food Budget groceries, meal prepping, and less eating out save
• Start a Profitable Side Project Use your development skills to start a product earn
• Real Estate Investing Hack house & rental properties earn invest
• Find Remote Work Remote work helps you save money and is an amazing perk save
• Optimize Sabbaticals Taking a long break? Roll over your 401k save
• Roth Laddering How to withdraw early from your 401k withdraw
• How Do You Withdraw Savings? After retiring, in what order should you withdraw from your accounts? withdraw
• Further Reading Links to some of the best finance resources plan