re: Share your advice for a soon-to-be graduate

Lots of good advice there. Hardly any of the 20’ish year old engineers in the company I work for want to buy a house. I bought a 30 year old inexpensive house a few years after I graduated. It was an opportunity to learn how to fix stuff and when I was ready to buy a nicer house, the equity and appreciation provided the 20 percent down payment for it.

I would bet you took the FE exam already, if not, I would take it soon. If you are not doing consulting work, a license may not be required. However, you may decide to take a job later in life that does require a license. Some states will allow you to take the PE exam without the FE, such as Texas. Other states require the FE regardless of experience or being licensed in other states. My wife is an advanced structural engineer, but started her career as a project manager. Later in life when she decided to take a consultant job, she took the PE and received a license in Texas. I would say she is an expert in her field, but she can’t get a Louisiana license unless she goes back and takes the FE. The FE of course includes all the stuff you learned in college and never use in the real world. She doesn’t want to have to teach herself engineering economics, thermo dynamics and differential equations again at this stage of her career. I took the FE before I graduated but have always done management jobs and never needed to get a PE.

Also agree with the comments on investments. Don’t worry too much about being a hedge fund manager. Choose a combination of funds that are relatively conservative. Diversification and leaving them alone is the key over time. Don’t invest more than 30 percent in your company’s stock, if they are listed. Lots of untouchable companies will go bankrupt over 30 years. (Ask anyone that was 100 percent invested in General Motors in 2008)

I would also add that a good rule of thumb at a minimum would be to invest 10%, donate to church or charity 10%, put 10% towards an emergency / slush fund that continues to build, and try to live on less than the 70 percent remaining. Avoid credit cards, no matter the discounts or points, as much as possible. Save up in advance for vacations and large purchases versus paying 18% interest on credit cards. Of course there will be exceptions to all the things I just listed, but the mindset and getting back on target is the most important thing.