Our new Indie Games subforum is now open for business in G&T. Go and check it out, you might land a code for a free game. If you're developing an indie game and want to post about it, follow these directions. If you don't, he'll break your legs! Hahaha! Seriously though.
Our rules have been updated and given their own forum. Go and look at them! They are nice, and there may be new ones that you didn't know about! Hooray for rules! Hooray for The System! Hooray for Conforming!

The Price of Higher Education

1567810

Posts

  • mrt144mrt144 King of the Numbernames Registered User regular
    mrt144 wrote:
    age: 31
    school: state university (did not graduate, ran out of money in senior year)
    occupation: senior software developer
    pay: $75 / hour. Usually at least some overtime every month.
    net worth: recently bought a car so a few tens of Gs.

    It's all about the math people. And being a programmer. We need so many more good ones. So many. I've recently hired one (need more) and it was so fucking hard to find somebody worth hiring.

    Was the car bought with financing?

    yeah. the interest rate was so low we went with financing rather than cash up front (which we had). The cost of the interest over the lifetime of the loan was worth less to me than the opportunity cost of tying up my liquid assets.

    Gotta balance your ledger with the car loan as a liability.

  • RiemannLivesRiemannLives Registered User regular
    mrt144 wrote:
    mrt144 wrote:
    age: 31
    school: state university (did not graduate, ran out of money in senior year)
    occupation: senior software developer
    pay: $75 / hour. Usually at least some overtime every month.
    net worth: recently bought a car so a few tens of Gs.

    It's all about the math people. And being a programmer. We need so many more good ones. So many. I've recently hired one (need more) and it was so fucking hard to find somebody worth hiring.

    Was the car bought with financing?

    yeah. the interest rate was so low we went with financing rather than cash up front (which we had). The cost of the interest over the lifetime of the loan was worth less to me than the opportunity cost of tying up my liquid assets.

    Gotta balance your ledger with the car loan as a liability.

    I did. I have a few 10s of Gs more in assets than the car loan.

  • mrt144mrt144 King of the Numbernames Registered User regular
    mrt144 wrote:
    mrt144 wrote:
    age: 31
    school: state university (did not graduate, ran out of money in senior year)
    occupation: senior software developer
    pay: $75 / hour. Usually at least some overtime every month.
    net worth: recently bought a car so a few tens of Gs.

    It's all about the math people. And being a programmer. We need so many more good ones. So many. I've recently hired one (need more) and it was so fucking hard to find somebody worth hiring.

    Was the car bought with financing?

    yeah. the interest rate was so low we went with financing rather than cash up front (which we had). The cost of the interest over the lifetime of the loan was worth less to me than the opportunity cost of tying up my liquid assets.

    Gotta balance your ledger with the car loan as a liability.

    I did. I have a few 10s of Gs more in assets than the car loan.

    The way you phrased it made it seem like because you recently bought a car, your personal net worth went up, which warranted my question.

  • RiemannLivesRiemannLives Registered User regular
    mrt144 wrote:
    mrt144 wrote:
    mrt144 wrote:
    age: 31
    school: state university (did not graduate, ran out of money in senior year)
    occupation: senior software developer
    pay: $75 / hour. Usually at least some overtime every month.
    net worth: recently bought a car so a few tens of Gs.

    It's all about the math people. And being a programmer. We need so many more good ones. So many. I've recently hired one (need more) and it was so fucking hard to find somebody worth hiring.

    Was the car bought with financing?

    yeah. the interest rate was so low we went with financing rather than cash up front (which we had). The cost of the interest over the lifetime of the loan was worth less to me than the opportunity cost of tying up my liquid assets.

    Gotta balance your ledger with the car loan as a liability.

    I did. I have a few 10s of Gs more in assets than the car loan.

    The way you phrased it made it seem like because you recently bought a car, your personal net worth went up, which warranted my question.

    no I was implying that it recently went down. By a lot.

  • mrt144mrt144 King of the Numbernames Registered User regular
    mrt144 wrote:
    mrt144 wrote:
    mrt144 wrote:
    age: 31
    school: state university (did not graduate, ran out of money in senior year)
    occupation: senior software developer
    pay: $75 / hour. Usually at least some overtime every month.
    net worth: recently bought a car so a few tens of Gs.

    It's all about the math people. And being a programmer. We need so many more good ones. So many. I've recently hired one (need more) and it was so fucking hard to find somebody worth hiring.

    Was the car bought with financing?

    yeah. the interest rate was so low we went with financing rather than cash up front (which we had). The cost of the interest over the lifetime of the loan was worth less to me than the opportunity cost of tying up my liquid assets.

    Gotta balance your ledger with the car loan as a liability.

    I did. I have a few 10s of Gs more in assets than the car loan.

    The way you phrased it made it seem like because you recently bought a car, your personal net worth went up, which warranted my question.

    no I was implying that it recently went down. By a lot.

    Math people.

  • CptKemzikCptKemzik Registered User regular
    USAA auto insurance and banking owns. I'm fortunate that my dad served as a coastie. Speaking of I considered coast guard reserves after graduating, but my dad said it's not really worth doing that kind of thing unless you go whole-hog with OCS. Given the state of people trying to join the coast guard right now I'd probably have a snowball's chance in hell with my (lack of) qualifications.

  • CantidoCantido Registered User regular
    USAA cut my auto insurance premium a little over half :D

    steam_sig.png
  • KetarKetar Duke of Weaseltown Like an agile peacock!Registered User regular
    Huh, I seem to be the oldest for now, oh joy.

    Age 34
    School - Top 10 private for BA (psychology), additional classes at CC and state school later
    Occupation - Currently unemployed by choice to stay home with baby son. Formerly small business owner (travel industry) and manager of large medical practice.
    Current Pay - N/A. ~$60k before leaving last job.
    Net worth - Somewhere ~$150-175k, depending on current value of condo and 2 cars (cars both paid off, condo almost entirely paid off).

    I'm married to a doctor in her last year of fellowship. Between past savings and her moonlighting options I have the luxury of being able to stay home with our first kid right now. Working on getting a new company started in the next few months doing consulting work - specifically working with medical practices needing to transition to electronic medical records systems that meet Medicare guidelines. I did 2 years worth of comp sci classes in college, as well as 2 years worth of science classes later while considering medical school a few years after undergrad, and I'm surprised by the utter goosery of some of the STEM folks here who have some really strong, misguided beliefs about the value of the humanities and their coursework of choice.

  • PhyphorPhyphor Building Planet Busters Tasting FruitRegistered User regular
    Age: 27
    School: B.Eng
    Occupation: Software Developer
    Current pay: 80k
    Net worth: Appx 120k

  • lonelyahavalonelyahava One day, I will be able to say to myself "I am beautiful and I am perfect just the way I am"Registered User regular
    edited November 2011
    not the oldest! yess

    age: 30
    School: BA in English (it took a total or 10 years, ran out of money senior year, only finished it last summer)
    Occupation: currently unemployed/housewife-girlfriend
    Current pay: $100NZD every fortnight as allowance
    Net Worth: no idea. i know I have some stocks and bonds and things in my name in the states, but my father handles all of that. My car is still in my name though. so she's about $10k USD now. and fully paid for.

    edit: ohwait. I know that I am worth at least $9k. because that's what's in my savings account. so just about $19k if you count the savings account and the car, plus whatever else stocks and bonds and inheritance that's sitting out there.

    lonelyahava on
    My Little Corner of the World || I am ravelried! || My Steam!
    You have to fight through some bad days, to earn the best days of your life.
  • zepherinzepherin Registered User regular
    edited November 2011
    Cantido wrote:
    When I'm in the military I will devote my salary to paying it down as hard and fast as possible. I will drive my old Honda until it blows up. I'm not getting a car or getting married.
    What kind of student loans did you get? If you got Perkins and Stanford loans you can use an income contingent repayment plan and after 10 years of public service your loans are wiped clean.
    mrt144 wrote:
    mrt144 wrote:
    The way you phrased it made it seem like because you recently bought a car, your personal net worth went up, which warranted my question.

    no I was implying that it recently went down. By a lot.

    Math people.
    In a weird twist of the economy, my car actually appreciated in value.

    zepherin on
  • CantidoCantido Registered User regular
    edited November 2011
    The quote button is missing. Gah.

    I have two different types of loans.

    1. Despite my alumni shenanigans I was eligible for Federal Stafford until my campus told me their "alumni get 60 credits and GTFO rule." I sent an appeal and they extended it until my senior year. I hit the aggregate limit my junior year, so that's about 23k. The high demands of ROTC ended up being an expense all their own with gasoline and food expenses. And then some fucker did a hit and run on me, costing me another 3 grand.

    2. I got the USAA Career Starter Loan for my senior year. That's 25k. After a long talk with my colonel, I devoted it entirely to tution (again I'm driving the Honda till it blows up) and put the rest into starting an IRA and Intermediary Bond fund. This pleased the colonel, and my family. But a loan with a 2% interest rate? Mmmm.

    That plan sounds lovely and I'll ask about that with my colonel. I just wonder about whether or not I will stay in the Air Force. I'm going into a new, prestigious field (Cyber Operations) and I'm about to do my paperwork to get top secret clearance. But the Air Force is still in a "fire everybody" move, as mandated by congress. http://www.military.com/news/article/air-force-news/af-releases-maj-capt-reduction-boards.html

    That's definitely in the ten year mark. But coming out of the Air Force in such a rare field, would finding work in the private sector even be an issue?

    Cantido on
    steam_sig.png
  • sanstodosanstodo Registered User regular
    Age: 27
    School: Top 10 private, BA in Anthropology
    Occupation: teacher/tutor/writer
    Approximate total compensation: approximately 85k
    Net Worth: 100k

    I won scholarships (National Merit and others) that paid for almost all of college.

    The headquarters for my writing:
    hummusandkimchi.blogspot.com

    http://us.battle.net/d3/en/profile/FriedRice-1814/hero/11834264
  • LawndartLawndart Registered User regular
    zepherin wrote:
    Damn I'm the oldest person here.

    This is demonstrably false.

  • rockrngerrockrnger Registered User regular
    Phyphor wrote:
    Net worth: Appx 120k

    Nice! I had thought I was doing good.

  • JeanJean Lonely québécois bear Gatineau, QuébecRegistered User regular
    Age : 27
    School : CEGEP (13 years of education total)
    Job : Currently at Tim Hortons, hoping to upgrade to security guard soon
    Current income : High 20s - Low 30s
    Net worth : $50K

    "You won't destroy us, You won't destroy our democracy. We are a small but proud nation. No one can bomb us to silence. No one can scare us from being Norway. This evening and tonight, we'll take care of each other. That's what we do best when attacked'' - Jens Stoltenberg
  • BagginsesBagginses __BANNED USERS regular
    Cantido wrote:
    The quote button is missing. Gah.

    F5

  • EvigilantEvigilant Registered User regular
    CptKemzik wrote:
    USAA auto insurance and banking owns. I'm fortunate that my dad served as a coastie. Speaking of I considered coast guard reserves after graduating, but my dad said it's not really worth doing that kind of thing unless you go whole-hog with OCS. Given the state of people trying to join the coast guard right now I'd probably have a snowball's chance in hell with my (lack of) qualifications.

    I freaking love USAA. I use them both for auto insurance and banking.

    Even though I've been in school for 10 years because of training and deployments, joining the military was such a great idea. The benefits I enjoy now like: free health care at the VA hospital, which has actually been fantastic; full tuition and monthly pay to attend school; veterans preference on jobs; and having the military pay what small amount of student loans I have amassed (~9k total in 10 years); has made all of that experience almost worth it.

    Almost.

    "Though force can protect in emergency, only justice, fairness, consideration and cooperation can finally lead men to the dawn of eternal peace." - General Dwight D. Eisenhower
    Google+ Profile Origin: 13Evigilant Steam: Evigilant
  • mcdermottmcdermott Registered User regular
    Age : 31
    School : Small state university, BSEE
    Job : Electrical Engineer
    Current income : $70k
    Net worth : Maybe $30k? We've been paying off debt accrued while in college. Own a house with little equity, two cars with some equity, and about $20k in retirement savings. Upward trending, though.

  • zepherinzepherin Registered User regular
    Lawndart wrote:
    zepherin wrote:
    Damn I'm the oldest person here.

    This is demonstrably false.
    I have since been proven wrong. At the time I made that conjecture the information I had at that time lead me to an incorrect conclusion. Science. I followed the data but when better data came along I abandoned my previous position.

  • mrt144mrt144 King of the Numbernames Registered User regular
    edited November 2011
    L
    zepherin wrote:
    Lawndart wrote:
    zepherin wrote:
    Damn I'm the oldest person here.

    This is demonstrably false.
    I have since been proven wrong. At the time I made that conjecture the information I had at that time lead me to an incorrect conclusion. Science. I followed the data but when better data came along I abandoned my previous position.

    Or maybe you're just senile, Wrinkles.

    mrt144 on
  • VishNubVishNub Registered User regular
    Real scientists rationalize away inconvenient data.

    Steam = VishnuOwnz
    Dota2 = Glitchmo
  • LawndartLawndart Registered User regular
    zepherin wrote:
    Lawndart wrote:
    zepherin wrote:
    Damn I'm the oldest person here.

    This is demonstrably false.
    I have since been proven wrong. At the time I made that conjecture the information I had at that time lead me to an incorrect conclusion. Science. I followed the data but when better data came along I abandoned my previous position.

    Since I am not a STEM major, I shall now present my survey responses in the form of interpretive dance combined with the art of fingerpainting.

  • mrt144mrt144 King of the Numbernames Registered User regular
    VishNub wrote:
    Grant proposal writers rationalize away inconvenient data.

    Fixed it for you.

  • VishNubVishNub Registered User regular
    mrt144 wrote:
    VishNub wrote:
    Grant proposal writers rationalize away inconvenient data.

    Fixed it for you.

    Or just don't report it.

    Steam = VishnuOwnz
    Dota2 = Glitchmo
  • rockrngerrockrnger Registered User regular
    edited November 2011
    Wow, this forum is about as diverse as a clan rally. Hard to pick out any trends but it would seem that the none college people get a head start on net worth that erodes by their late 20's.

    It would be interesting to see if the college people keep up their gains later in life or if their higher income leads to spending more money rather than investing.

    Edit: i am assuming that the Older people got hit on their houses in 08.

    rockrnger on
  • GoumindongGoumindong Registered User regular
    edited November 2011
    no I was implying that it recently went down. By a lot.
    The car is an asset that offsets the cost of the loan, your net worth is either the non-depreciated or the sell value of the car, so it didn't go down that much(zero if you're using non-depreciated cost and diff bet purchase and blue book if you are using sell value)

    Math peopleI'm surprised by the utter goosery of some of the STEM folks here who have some really strong, misguided beliefs about the value of the humanities and their coursework of choice.
    Ketar wrote:
    I'm surprised by the utter goosery of some of the STEM folks here who have some really strong, misguided beliefs about the value of the humanities and their coursework of choice.

    This is a common to the types of people that tend to get STEM degrees.

    Goumindong on
  • QuidQuid The Fifth Horseman Registered User regular
    edited November 2011
    Age: 26
    School: Job training that's gotten me an AA so far
    Occupation: Linguist
    Pay ~60k
    Net worth ~40k

    I'm disappointed with the net worth. My wife's insistent on certain things for our home but I imagine once that's done it'll trend up faster.

    Quid on
    PSN: allenquid
  • mrt144mrt144 King of the Numbernames Registered User regular
    STEM means Super Testy
    rockrnger wrote:
    Wow, this forum is about as diverse as a clan rally. Hard to pick out any trends but it would seem that the none college people get a head start on net worth that erodes by their late 20's.

    It would be interesting to see if the college people keep up their gains later in life or if their higher income leads to spending more money rather than investing.

    I married into my net worth. Without my wife I am nothing.

  • Skoal CatSkoal Cat Registered User
    edited November 2011
    delete

    Skoal Cat on
    ceres wrote: »
    Skoal Cat is correct.
  • mrt144mrt144 King of the Numbernames Registered User regular
    Goumindong wrote:
    This is a common to the types of people that tend to get STEM degrees.

    Tribalist high functioning autistic narcissists.

  • MrFishMrFish Registered User
    edited November 2011
    Age: 22
    School: Private small liberal arts+engineering school/ majored in Government and Law
    Occupation: Marketing intern, run website on the side selling Thai amulets
    Pay: internship is unpaid, website makes around 10,000 baht a month (so far, only in operation recently, approx US$300)
    Net worth: around US$4K

    save money living with parents for the moment, plus living in Thailand greatly reduces cost of living compared to Washington, DC area.

    MrFish on
  • MrMisterMrMister Valuing scholarship above all elseRegistered User regular
    edited November 2011
    Age: 25
    School: Top ten private, BA in philosophy
    Occupation: Philosophy graduate student
    Current Pay: ~23k (~27k when I decide to take summer teaching)
    Net Worth: ~20k

    I give 10% of my income to Oxfam, which, since it's not so much to begin with, makes it harder to keep that net worth going up. We'll see how the whole grad student thing pans out when I finish and go on the market, although I am enjoying myself at the present (so regardless of outcome it will not have been a total waste).

    MrMister on
  • bowenbowen Registered User regular
    Age: 27
    Education: ITT Tech (for profit school)
    Occupation: System Admin/Software Engineer
    Pay: 50k (+some)
    Net Worth : -53,000 (roughly including car loan + school loan -- yup I apparently paid $40,000 for a two year school)

  • mrt144mrt144 King of the Numbernames Registered User regular
    bowen wrote:
    Age: 27
    Education: ITT Tech (for profit school)
    Occupation: System Admin/Software Engineer
    Pay: 50k (+some)
    Net Worth : -53,000 (roughly including car loan + school loan -- yup I apparently paid $40,000 for a two year school)

    These private vocational schools are pretty fucking ridiculous.

  • bowenbowen Registered User regular
    edited November 2011
    I know I talk about this all the time, too, and I apologize (anger gets the best of me when I post about it because of frustration) but my federal loans were ~1/3 the cost of my private loans and my private loans are 6x's the monthly payment of the federal ones. I almost wrote to the president to tell him he's a fool if he ignores this, and that if he were to do something about the private loans he would pretty much galvanize the young people to vote for him, which is an incredibly powerful thing to do, just ask Clinton.

    bowen on
  • Modern ManModern Man Registered User regular
    Age: 35
    School: Top 20 public undergrad, top 15 private law school
    Occupation: lawyer
    Approximate total compensation: About $220K total income between me and wife
    Net Worth: approx 300k

    Aetian Jupiter - 41 Gunslinger - The Old Republic
    Rigorous Scholarship

  • rockrngerrockrnger Registered User regular
    Modern Man wrote:
    Age: 35
    School: Top 20 public undergrad, top 15 private law school
    Occupation: lawyer
    Approximate total compensation: About $220K total income between me and wife
    Net Worth: approx 300k

    Wow, impressive sir.

    It kind of carries thru on my theory that the higher income income people would spend more. Do you still have student loans?

    If you don't mind me asking, has your position as a lawyer helped you in your investing?

  • Modern ManModern Man Registered User regular
    rockrnger wrote:
    Modern Man wrote:
    Age: 35
    School: Top 20 public undergrad, top 15 private law school
    Occupation: lawyer
    Approximate total compensation: About $220K total income between me and wife
    Net Worth: approx 300k

    Wow, impressive sir.

    It kind of carries thru on my theory that the higher income income people would spend more. Do you still have student loans?

    If you don't mind me asking, has your position as a lawyer helped you in your investing?
    I paid off my student loans in the standards 10 year timeframe. I was fortunate to graduate with only about $25K in student loans. My wife had no loans.

    I don't think being a lawyer has made it easier to invest, except to the extent that having a higher income has made it easier to have spare income for investment purposes. Close to $200K of our net worth is 401(k)'s.

    It is true that more income often leads to more spending. I know several lawyers who were making $200K plus a year, but were living paycheck to paycheck.

    Aetian Jupiter - 41 Gunslinger - The Old Republic
    Rigorous Scholarship

  • VeritasVRVeritasVR Registered User regular
    Mo' money, mo' problems m i rite?
    Spoiler:

    Also, I'd like for the thread not to turn into an ego fest / pity party. It seems okay for now.

    CoH_infantry.jpg
    Let 'em eat fucking pineapples!
Sign In or Register to comment.