- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
4
Posted on 3/14/10 at 2:09 am to tigerbait3488
Good in general or good for someone starting out in Petroleum Engineering like the OP?
Posted on 3/14/10 at 7:57 am to tigerbait3488
I feel like it's pretty good while I am in training for 6 months to a year. Then the pay is bumped up significantly. What do you think the avg salary is starting out of college?
Posted on 3/14/10 at 8:44 am to ottothewise
quote:
ottothewise
I wouldn't suggest either of those.
Posted on 3/14/10 at 8:45 am to tigerbait3488
quote:
would yall say that 70,000 is good pay??
In reality - incredible pay
On the O/T - You need to add another 0 on the end.
Posted on 3/14/10 at 9:53 am to tigerbait3488
quote:Given the market, it's good to see new grads getting any jobs at all. So, yes, $70K is great.
would yall say that 70,000 is good pay??
Posted on 3/14/10 at 11:38 am to TheHiddenFlask
I would recommend reading something like this if you are on this board asking for basic advice:
W. Bernstein "The Investor's Manifesto
It's current, it helps provide a very good understanding of investing and risk vs reward. John Bogle has an updated mutual fund book out that would help.
Quotes from Bernstein:
"On the importance of saving: "Save as much as you can, and do not stop saving until you die."
On risk versus return: "[I]n the course of earning those higher returns, your portfolio is going to lose a truckload of money from time to time. If you desire perfect safety, then resign yourself to low returns. It really cannot be any other way."
On glib explanations of market behavior: "The reason that 'guru' is such a popular word is because 'charlatan' is so hard to spell."
On buying low: "[M]ost grizzled veterans will tell you that the best purchases are often made when they feel they are about to throw up."
On bad behavior: "Our emotions define our humanity...but in the world of finance, they are death itself."
On performance chasing: "Alas, small investors incessantly chase returns the same way that dogs chase seagulls up and down the beach."
On overconfidence: "In the investment world, you are not above average. You are likely not even close." "
The last quote is something many on here are clueless about, everyone is above average on MT board although they don't claim the incomes of OT posters.
Good luck, I believe you are in great position to invest early and with success be very financially stable at an early age.
W. Bernstein "The Investor's Manifesto
It's current, it helps provide a very good understanding of investing and risk vs reward. John Bogle has an updated mutual fund book out that would help.
Quotes from Bernstein:
"On the importance of saving: "Save as much as you can, and do not stop saving until you die."
On risk versus return: "[I]n the course of earning those higher returns, your portfolio is going to lose a truckload of money from time to time. If you desire perfect safety, then resign yourself to low returns. It really cannot be any other way."
On glib explanations of market behavior: "The reason that 'guru' is such a popular word is because 'charlatan' is so hard to spell."
On buying low: "[M]ost grizzled veterans will tell you that the best purchases are often made when they feel they are about to throw up."
On bad behavior: "Our emotions define our humanity...but in the world of finance, they are death itself."
On performance chasing: "Alas, small investors incessantly chase returns the same way that dogs chase seagulls up and down the beach."
On overconfidence: "In the investment world, you are not above average. You are likely not even close." "
The last quote is something many on here are clueless about, everyone is above average on MT board although they don't claim the incomes of OT posters.
Good luck, I believe you are in great position to invest early and with success be very financially stable at an early age.
Posted on 3/14/10 at 11:51 am to tirebiter
quote:
On glib explanations of market behavior: "The reason that 'guru' is such a popular word is because 'charlatan' is so hard to spell."
Great quote.
quote:
The last quote is something many on here are clueless about, everyone is above average on MT board although they don't claim the incomes of OT posters.
So true.
Posted on 3/14/10 at 11:59 am to TheHiddenFlask
Bernstein is a provider of some great quotes, calls them as he sees them. His website is a a good source of ferreting out good from BS -
Efficient Frontier
I think he still teaches neurology in addition to his financial endeavors. One bright SOB.
Efficient Frontier
I think he still teaches neurology in addition to his financial endeavors. One bright SOB.
Posted on 3/14/10 at 6:12 pm to Cash
quote:
Don't be in a rush to buy a house. There is nothing wrong with renting for a little while.
this...keep your options open about where to live
quote:
I feel like it's pretty good while I am in training for 6 months to a year. Then the pay is bumped up significantly. What do you think the avg salary is starting out of college?
dude i'm assuming you have little in the way of loans coming out of LSU...70k is PLENTY for your first year
This post was edited on 3/14/10 at 6:14 pm
Posted on 3/15/10 at 12:57 am to St Augustine
I need to keep this thread in mind when I finally finish grad school in May. There is really some good advice in here, especially for someone like myself who has no clue about finance. And training at 70k is pretty damn nice with no loans/bills. I am going to have about 30k in loans to deal with.
Posted on 3/15/10 at 9:55 am to Tigerstudent08
quote:
The company pays for a hotel when I am not offshore.
Wow. Ride that gravy train as long as you can.
Posted on 3/15/10 at 12:01 pm to jglass3lsu
I am but I am quickly getting sick of always being in a hotel
Posted on 3/15/10 at 1:07 pm to Tigerstudent08
quote:
I am but I am quickly getting sick of always being in a hotel
Trust me, there are worse things in life. It may not be optimal for you, but it beats the hell out of paying 1000 bucks a month for rent.
Posted on 3/15/10 at 2:38 pm to TheHiddenFlask
To the OP: If you plan on having kids in the future, you may consider putting a few hundred bucks a month in a 529 account (with yourself as the beneficiary), after your 401K and IRA. Louisiana START program is a pretty good one, as are a few others. This would be tax deductible, the state throws in a few % on top of the investment, and you can transfer it to your child when he/she is born. This keeps you from raiding your mutual funds as much when Jr. goes to college.
I wish I'd done it that way.
I wish I'd done it that way.
This post was edited on 3/15/10 at 2:40 pm
Page 3 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News