Message from @Jacob
Discord ID: 533466984051113984
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
Seems “good” if you are a single guy with minimal commitments.
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 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.
Eastern Washington is super cheap cost of living
my rent is 470
Me and my bf did the math. We can pretty easily live off an 80k salary to with 5-6 kids while I stay at home. You just need to DIY everything and never buy anything new. But we’re planning on homesteading so I don’t know if that budget is applicable to you.
Guys, do we have any accountants who are looking for clients?