Background 

    I have been a moderately high-paid contractor since about 2018, when I started earning $150k a year. I now get paid about $185k a year as a Technical Program Manager in Software Engineering.

    Due to the contracting, there is some gaps in employment, not usually any longer than 3 months at a time, but I am so skeptical about ‘ job security ‘. Yes, some people in the companies I work for are classed as employees and not contractors, but they can still be laid off at a moments notice when departments move around budgets. 

    I live in Los Angeles and I am a duel US-EU citizen. I grew up going to Spain on vacation, and have always thought that I’d just buy an apartment there for security for when I want extended breaks from work given, sabbaticals, and just maybe even an early retirement as sorts. I will always want to do something, but want to be financial secure and independent. 

    I don’t have as much as others in this forum, but I am not going to let that get me down. 

    Net Worth ($185k) 

    • Between 401k’s, IRA’s etc: $100k 
    • Investments: $10k (I just do index funds, Apple)
    • Crypto: $5k (just a small bit to not be left out)
    • Cash Savings: $70K 

    My monthly outgoings 

    • Car Lease: $400
    • Car Insurance: (double since moving back to CA): $200
    • Rent: $700 (a good deal living with a friend right now) 

    *I by no means save everything outside of that, and do go on vacation/travel often. 

    Going Forward

    My current contract runs to October 1st, with a very real possibility of it being extended through March 2025. 

    I get paid weekly, and after taxes here in California, I get approx $2300 per week. I have no other debts. 

    My projection is I can save another $27k between now and October. 

    So if you were me, is there anything else you would do? Would you go ahead and buy the place in Spain or would you buy somewhere in the US that’s cheaper than California? 

    Is there anything you would do with the cash instead of having them in HYSA’s?

    Looking for some input, validation that I’m doing the right thing.

    Thanks Redditors

    A little bit of independence. What can I improve?
    byu/socialdirection infinancialindependence



    Posted by socialdirection

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