31 yo guy needs some advice : eupersonalfinance


Inspired by this post I would also know what is there to improve and if there is any hope for me. I’m comparing myself to my peers and even if my salary looks good, it isn’t great on the NW side. I talk to people around me, Devs, IT guys, lawyers and they all have NW in the range of 400-500k. I chat with my US/CAN friends and they make on the same position as me 200k a year…. With fewer taxes! Our neighbors from the building are the same age as we, and wife is not working and he is bringing home 150k for working in a similar company.

  • 31 yo polish project manager living in Germany
  • my current salary is 90k gross (take home is 3700 per month),
  • my SO salary was 115k gross (5500 net) but due to COVID19 SO got laid off.
  • Taxes are 42% I think
  • flatowner, in Poland, I purchased my flat for 80k 10 years ago and all payments are done. My contribution was pretty significant. Forgot to say. We are not renting the flat because it is incredibly hard to find tenants. The city is full of empty flats – especially now with covid19 – and we don’t want to have someone that will “use the flat” as the costs of repairs would be higher than the primary remodelling. We could rent it for 400-500 euro a month.
  • renting a flat in Germany. One of the most expensive cities in Germany…
  • We save 7k per month but now it will go down to 2k a month
  • 130k in our saving bank account
  • 25k invested in stock and ETFs. US tech and bio mostly. ETF sp500 acc + clean energy etf + World.

I wonder if our salaries are not impacted by the simple fact that we are polish so “cheaper”.

Our goal is to move to Canada, work there for 10 years, buy a house there, and stop working in 12-13 years. FIRE for a couple of years in Poland or in Malta with at least 3k monthly post-tax expenses and then move back to Canada at the age of 50-55.

what’s your opinion on this strategy?



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