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re: 20% saving for retirement???
Posted on 11/7/12 at 3:04 pm to fishfighter
Posted on 11/7/12 at 3:04 pm to fishfighter
quote:damn. I expect to get close to that, hopefully, as an engineer, but that's pretty generous
get a job say paying $65k a year to start
1
Posted on 11/7/12 at 3:33 pm to jimbeam
Most of my engineering classmates fell within 50-60K. A few were in the 60-70K range and then two that went to the oil industry are 70k+.
Fortunately for engineering, you will be practically guaranteed a position somewhere. Just make the grades and being in the $60K+ range will be a seamless task. I did not have a good GPA and no I did not even sniff the $60K range due to that fact.
As is, I am making every conscious effort to take advantage of the little number of expenses. So savings/retirement for me are near 47% of my income currently. Budget spreadsheet is your friend. I wish I would have started one my junior year or earlier in college
Fortunately for engineering, you will be practically guaranteed a position somewhere. Just make the grades and being in the $60K+ range will be a seamless task. I did not have a good GPA and no I did not even sniff the $60K range due to that fact.
As is, I am making every conscious effort to take advantage of the little number of expenses. So savings/retirement for me are near 47% of my income currently. Budget spreadsheet is your friend. I wish I would have started one my junior year or earlier in college
This post was edited on 11/7/12 at 3:34 pm
Posted on 11/7/12 at 3:35 pm to RickAstley
quote:
Just make the grades and being in the $60K
quote:so i wont be sniffing it
I did not have a good GPA and no I did not even sniff the $60K range due to that fact
I'm not doing horrible but i'm not 4.0
Posted on 11/7/12 at 3:44 pm to jimbeam
I graduated after 4.5 years. I had dipped down to a 2.56 my sophomore year. I plateaued the 3.0 mark at 3.01 for my GPA with one semester left and 2 credits to capitalize on in order to graduate. Well low and behold I go and get an internship that summer to pad my resume and I sign up for 12 hours. 10 are for class retakes, and a security certificate which was completely unnecessary. I was beaming with confidence beforehand and then the stack of cards fell and I finished with around a 2.97 overall GPA. Pretty shitty on my part to finish that way academically.
Anyways I did get several opportunities to interview and multiple job offers, so it ended well. If you have a light load going into the end, dont add coursework. Go get a job or make use of your free time, to better yourself in areas you feel is best at the time.
Anyways I did get several opportunities to interview and multiple job offers, so it ended well. If you have a light load going into the end, dont add coursework. Go get a job or make use of your free time, to better yourself in areas you feel is best at the time.
Posted on 11/7/12 at 4:53 pm to fishfighter
quote:
Well, a house is going to cost an easy $1200 a month
That's 250k with today's interest rates, no need for that house in your 20's
Posted on 11/7/12 at 4:55 pm to yellowfin
was gonna say
Posted on 11/7/12 at 5:29 pm to yellowfin
quote:
That's 250k with today's interest rates, no need for that house in your 20's
With two or three kids, $250k will buy a very good house in the right hood. Sure one can buy for 100K, but it is all about the HOOD one lives in. Also, how long one wants to pay on a house too!
Posted on 11/7/12 at 7:00 pm to fishfighter
I don't know where you are but there aren't many places in Louisiana that you can't find a 3 bedroom 2 bath for less than 200k in some cookie cutter neighborhood
Posted on 11/7/12 at 7:50 pm to Zach
the way it is going there may be no retirement with the current POS douchebag we have in office.
have to fund those leeches and economic imbeciles
have to fund those leeches and economic imbeciles
Posted on 11/7/12 at 8:32 pm to Zach
quote:
Eliz. Warren is running for Senate in Mass. against Scott Brown. A few years ago she wrote a book on personal financial advice. In it she recommended that as soon as you enter the workforce, let's say at 22 when you graduate college, you should put 20% of your income into a retirement account. Questions.. Is that realistic? And, if so, for how many people?
Don't listen to anyone who says its not possible from day one. No matter how much you make, if you start putting away 20% from the start, especially with a company match on a few points, you will not miss the money at all and in 10 years you will be happy you did it and in a much better position than those that don't. There is also no need to buy a house right now anyway, this market isn't going anywhere.
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