Message from @Ryan -NJ
Discord ID: 533464901289771033
I agree with the high risk/high reward. With that said I wouldn’t advise being 100% invested in high risk/high reward stocks/funds if you think a recession is on the near horizon. I’ve scaled back my IRA/401k investments into cash/more defensive focused funds
But when you think the economy is about to turn up I absolutely advise going all in
@Zyzz cool thanks! it makes a lot of sense, strange that my current employer's 401k options are so limited when you think of it all this way.
Yeah I have the same issue with my 401k although I think it's workable. I am given access to a whole host of Vanguard funds with "target retirement dates" between 2015 and 2065. Obviously the longer out the retirement date, the higher the risk. Recently I switched into 40% cash, 30% 2065 target retirement, and 30% 2015 target retirement. I don't want to exit the market entirely but I want to position myself to be more defensive. If this January rally continues then I think I may pull a little more out of the 2065 fund
This is the 2nd longest bull market cycle in our country's history
the dotcom bubble (120 months) is the longest on record
if we make it to July 2019 w/o a recession then we will have broken it
historical data and the law of average dictates that we are near the peak of the cycle
I'd rather keep my money on the sidelines and wait for a really good deal to spring up and then buy
The way to get rich is to keep $10 million in your checking account in case a good deal comes along. - Charlie Munger.
What is a "good" starting salary right out of college?
That depends on profession, geographic location, private / public section, etc...
Cost of living and familial plans may dictate your impression of a “good” salary.
What are you studying?
computer science
but by "good" I don't mean "good for what I'm studying", I mean, "enough to live a comfortable life"
though I imagine that depends on region
That’s a worthwhile major. It’s useful across multiple industries. I work with a large technology company that does some CS / software engineering (in your general geographic area) that starts people around $60k -$70k
I’m sure there’s better and worse starting points, contingent on your internships, externships, experience, grades, focus, etc.
salary after 1 year for my school is $49,000
I am lol
I suggest reading The Millionaire Next Door. It gives wise guidance on frugality and living within ones means. Making a lot is irrelevant if a man can’t understand how to spend properly. There are men that make $250k per year but live paycheck to paycheck because they spend $245k per year. The key is making $50k (or $75k or $100k or $150k) but spending a fraction of it with the long game in mind.
ahaha ya I don't need to live like that
I'm more looking at this out of curiosity than anything
I don't need a super high standard of living
though it would be nice to have some extra money to fund IE
That’s the goal. Spend enough to live, and even live well, but have the discretionary funds to leave a legacy.
When do you graduate? How far are you from Portland?
I have this year plus one more, and I'm pretty far from Portland
I'm in the Spokane area
Fair enough. I’m here to help.
thanks
NP... I’ve been in business / tech / engineering a while. If and when you have questions I’m here.
Going into the job market can be a shaky experience.
>I don’t need a high standard of living
You need a high salary to attract a higher quality woman.
You need a higher salary to afford 6 children with a stay-at-home mother and avoiding public schooling.
You need a higher salary to achieve financial independence and provide a stable environment for your family.
You need a high salary to give more to causes that help our people.
A high salary isn’t about indulging in luxuries, it’s about ambition and providing for others.
The Millionaire Next Door is excellent and accurate.
$49,000 with a comp sci degree is unacceptable. Average starting should be $60,000+. The data is easily found online.
ya I did find that data online
that's the median for my school
@Tanner - SC Agreed. The starting salary should be much higher, especially is a decent metro area. Cost of living in his area may be one offset to the initial starting salary.