What career field are you in ?
My niece has a degree in political science and works at Build A Bear workshop part-time.
She was expecting $80,000 job out of college at a Fortune 500 company.
Retirement investing...
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What career field are you in ?
My niece has a degree in political science and works at Build A Bear workshop part-time.
She was expecting $80,000 job out of college at a Fortune 500 company.
Any skill position I have ever seen requires a 4 year degree or military or some number of years experience in that field, whether it needs the degree or not. You might get that job if you do something else for the company and get the opportunity or referal, but there unlikely to hire you from outside without the minimum requirements. Your unlikely to even get an interview. I agree with the statement is its simply proof you can actually complete something.
OP, my apologies if I missed some details but how much can you put away per month?
If you are currently at $100K in savings, you’ll need to put away $2K per month (including employer match), and average 8% interest over the next 15 years to get to $1M by 55.
If you are currently at $100K in savings, you’ll need to put away $2K per month (including employer match), and average 8% interest over the next 15 years to get to $1M by 55.
I'm thinking about maybe a "partial retirement" doing something low stress like auto sales, etc.
I have a 4 year degree. I won't be getting any other degrees.
I'm putting away $1K/mo at present and will ramp that up.
I.T.
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Also, adopt a minimalist lifestyle. We are pushed to consume and it's hard to go against the mainstream attitude but whenever buying something, convert it to number of hours worked based on after-tax hourly earnings. Suddenly, many things will not be worth spending money on.
Obligatory:My niece has a degree in political science and works at Build A Bear workshop part-time.
She was expecting $80,000 job out of college at a Fortune 500 company.
What's the point in retiring unless you can do it in Caligulan splendor?
At the time we had ‘circled the wagons’ and spent wisely. Nice middle class lifestyle.
No Rolex, gold chains or Maserati lifestyle.
Vanguard account nice and healthy heading into retirement…
To hire a manager or senior manager on my team, 4 year degree required with minimum time working elsewhere (3 and 5 years respectively or maybe 5 and 7 years). Graduate degree takes two years off the numbers I think. If those requirements aren't met, resume would never get to me. Even if I asked for all the candidates resumes and interviewed who I wanted, I would have to drop the grade level and title on the position and repost at a lower grade if the candidate didn't have enough education.What career field are you in ?
My niece has a degree in political science and works at Build A Bear workshop part-time.
She was expecting $80,000 job out of college at a Fortune 500 company.
No issues with a poli sci major, I would hire one (and have one myself!).
You definitely put in bare minimum that gives you match. I work for financial company who matched 7% of my income with 7%. So that’s what I do.
Eh, Rolex is a very good investment that also gets you into circles. Maserati is dumb unless you buy 2 years out, and know a good indy. Then it's actually very affordable. I chose to buy a new Kia instead though, due to the concept of long term sustainability. It's cheap to maintain, fast as hell, and I have a 11.40kw solar array fueling it...which is also about long term cost fixing.
Yeah, that one segment on Antiques Roadshow with the vet who bought a new Rolex while serving in Vietnam and put it in a drawer, has every scrap of paper, boxes etc. and looks brand new, a fun segment to watch. Worth looking up. And definitely an investment in his case.
Not retired yet but I often wonder how much our spending would increase when we're no longer wasting hours at work. Eg when we have free time, we go out and enjoy life, which often costs money. It makes me question how much we would need to retire comfortably.
Hmmm...14 years of higher education (4 years college, 4 years dental school, 3 years residency, and 3 years MBA) and that 14 years cost me $180,000 + lost time in workforce. My income is several times that now to the point where the cost of that education is essentially meaningless. I was also never treated like trash and I always enjoyed my time in school - I met some great people. I'd make the same choices again and again from both a financial as well as intellectual satisfaction POV.
Well said. In my case, I got my 4 year degree at 40. Yes, it paid off financially, but more than that I learned a lot from professors and students alike. They helped change my life and all played a role. I was also in AA recovery, so working and going to school kept me busy. Left to my own devices and decision making was a recipe for destruction. I'd proven that beyond a shadow of a doubt.
DeAnza College and San Jose State will be in my living trust after the next revision.
Astro14 is 100% correct when he said it takes decades to build wealth.
It doesn’t happen in a short amount of time and it takes some smart, well informed decision making.
This is my final post on this thread but I’ve mentioned in the past I opened Roth IRAs for our 4 kids when they turned 18 and funded the max contribution the first year to get the snowball in motion. All 4 were working at 18 and they’ve been contributing to their Roth IRAs ever since.
To retire comfortably you have to plan for it and look forward to the finish line.
It doesn’t happen in a short amount of time and it takes some smart, well informed decision making.
This is my final post on this thread but I’ve mentioned in the past I opened Roth IRAs for our 4 kids when they turned 18 and funded the max contribution the first year to get the snowball in motion. All 4 were working at 18 and they’ve been contributing to their Roth IRAs ever since.
To retire comfortably you have to plan for it and look forward to the finish line.
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