How I Navigated the Challenges of Retirement as a Tech Woman Over 50

A Reddit user who is working in the technology industry is trying to figure out how to navigate the challenge of preparing for retirement. As the original poster (OP) explained, statistics show that many women in tech end up having to leave these jobs early for many reasons. Unfortunately, she said, not everyone who finds themselves in that situation has planned for early retirement or is part of the FIRE movement, which stands for Financial Independence, Retire Early. 

So, the poster was looking for advice on how a tech woman over 50 could navigate these challenges and figure out how to retire, even if early retirement was an afterthought.

Here’s what other former women in tech told her, along with some general advice on preparing for the possibility of leaving a career earlier than expected. 

Navigating the challenge of retirement as a woman in tech

One woman who worked in the technology field told her story of retiring in her early 50s. She said she was thinking about retirement from a very young age after she saw younger children walking to school in snow storms and determined that was not what she wanted for her life. 

She explained that both she and her partner worked in the same industry and, although they moved to an expensive neighborhood, they never really changed their spending habits and they continued living very frugally to enable her to stop working at a young age. This included making sure their dates were inexpensive, sending their kids to state schools, buying a modest house, and keeping their overhead low. She and her husband also started a couple of small businesses to create their own pension plans, while also spending time working in corporate jobs that offered pensions.

Other posters urged the OP to focus on planning for retirement as soon as possible by saving aggressively, especially as they said that sexism could have a big impact on career opportunities for older women in tech.  Specifically, many suggested living on a strict budget, taking advantage of catch-up contributions, putting money into index funds, and understanding your safe withdrawal rate so you can set clear retirement goals.

Getting help from a financial professional is a good idea

Ultimately, these suggestions from other posters — and especially women who have navigated early retirement while working in the tech industry — are very helpful. However, there is no real substitute for getting personalized financial advice.

The OP should talk with a financial advisor who knows the specifics of her situation, including her income, spending needs, and current savings levels. An advisor can offer advice on a realistic retirement age, how to save to achieve her goals, and where her funds should be invested.

It’s always helpful to get advice from an advisor on retirement planning, as there are so many issues to think about and the stakes of making an error are high. However, for those like the OP who are concerned about their career stability and their ability to continue working in the industry, it is especially important to get this professional assistance as soon as possible to start building financial security early in case retiring at a young age becomes not an option but a necessity. 

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