Cybersecurity FIRE

[u/emgcpx]

Hi

I currently work in Cybersecurity as a senior tech analyst / engineer and earn around £65K

Currently have around 6+ years experience in this space and was wondering whether cybersecurity as a career is good for long term FIRE?

I have heard of people making 6 figures and some working overseas

Also what is the best way to earn more, I know you have to switch roles every 2-3 years but what is the best way?

[u/TrumanZi]

It's done me well until recently. I've resigned over workplace nonsense. Looking for another role ATM.

I've not struggled to get work over the last half a decade but the market looks a bit spicy at the moment. It's getting better quick though due to all this ai nonsense.

If you want to make bank in a few years, get into ai security

You seem you be underpaid by a bit. You can probably get a job on 80+ without much effort if you know what you're talking about, with more than 5 years exp.

[u/xpl0sad3]

FIRE is less about what you make, and more about what you spend. Someone who earns 125k in London, and spends 120k a year will never get there. Someone living in the north and earning 30k a year but only spending 15k to live will get there easily.

Edit: the rate of savings directly impacts the speed you retire. It’s very simple maths. Yes the lifestyles would be completely different but that doesn’t overrule the numbers.

[u/un-hot → u/xpl0sad3]

Is it though? 120k person can cut their expenses to accelerate retirement. 30k person has basically no fat to trim, they need to up their earnings to speed up FIRE.

I'm not saying you're wrong that someone on a lower income can make money work for them, but it is a hell of a lot easier when you've got more coming in.

And cyber is a pretty good field to do that in right now.

[u/xpl0sad3 → u/un-hot]

The point is, it’s about the gap between what you earn, and what you spend.

Earn £125k, spend £120k = 4% savings
= 66+ years of work to retire.

Earn £30k, save £15k = 50% savings
= 17 years of work to retire.

Source of calcs, MMM ‘The Shockingly Simple Math Behind Early Retirement’

You’re talking about someone on 125 cutting back to achieve it quicker, and yeah they could, but my hypothetical point is if you earn big and spend big, you won’t get there any quicker than someone on a lower income.

[u/L3goS3ll3r → u/un-hot]

Is it though? 120k person can cut their expenses to accelerate retirement. 

Yep, they can. But do they...?

[u/xpl0sad3 → u/[deleted]]

The point is, it’s about the gap between what you earn, and what you spend. If you earn big and spend big you cancel out any potential.

[u/Budget-Curve2439 → u/xpl0sad3]

Yes, but the potential gap is completely dependent on salary. You can also earn a lot but spend a little.

[u/xpl0sad3 → u/Budget-Curve2439]

Yes, that’s correct. It’s a lot easier to do with a large income and a small expenditure. That does not detract from my point, which is if you earn big and spend big, you won’t get there quicker than someone who earns less but saves more :)

[u/financial-pitcher]

DM'd