James is recovering from surgery this week, so we offer you this special episode on personal finance so as to not to leave you sad and alone on Words & Numbers Wednesday!
Fantastic lecture. A few assumptions were made here: 1) You find a job at a bachelor's level in your field immediately after graduating. 2) The job market respects your degree and pays you more than you would earn with just a high school degree 3) Saturation of the college job market 4) Lifestyle creep, this was addressed in the Savings section of the talk 5) The major you choose at 18 may not be the one you want at 30 Hope James is alright.
My only quibble is the advice about avoiding the stock market. IF you are disciplined and understand risk/return, then investing your second $10k in a mutual fund, a broad index ETF or even use a robo advisor. Of course most ppl are not financially disciple and a shocking number of people enjoy gambling.
I've been trying to explain this to my brother It was a TV other man and we're from Massachusetts and he's all excited about living in New York or Massachusetts making $180,000 a year I talk to him in to taking a job for 115,000 a year in Columbus Ohio because it cost the living is about half of what it is in the taxes are well below in New York he was living before in Oregon which also has a very high cost of living He's now saving about 60% of his income in Ohio and thanks before it lol. The average truck driver in North Dakota making $82k has more purchasing power than the average journalist at the New York times making $180,000 a year. You can see this because the truck driver will own a house three cars have three or four kids have a bunch of four wheelers and a bow and all this stuff for the New York times journalist will live in a studio apartment and have a cat and can say how they can never afford to buy a house there or a condo or have kids.
Ask and you shall receive... docs.google.com/presentation/d/1adPTRVEAwUcQEtyJ3ZxuRB1xfR9AMV1d/edit?usp=drive_link&ouid=114409125659893818523&rtpof=true&sd=true
I listened to this, but I'd love to see the live lecture with the power point you were presumably working off of. Would that happen to be on your channel anywhere? One of the biggest things I've learned about personal finance is to remain engaged. Once you set things on auto pilot, there's really not much else to do, but do what you have to do to keep it on your mind so you don't get complacent and buy the big stupid car or the big stupid house that you can't afford. EDIT: Found it! ua-cam.com/video/TZlJmhhedcI/v-deo.html&ab_channel=AntonyDavies
I think you're getting something wrong with assuming college graduates make more money is because their college graduates We don't actually know that's the case. In order to actually find what's causal we need to do research and identify factors and identity traits like IQ, ambition, conscientiousness etc. Because people that actually go to college and complete college or on average fairly high in all of these traits that predict success in one's career. I tried to explain this to people when I dropped out of college 14 years ago that the college degree does not really matter at all and I am high and IQ ambition moderately high in conscientiousness and I will do just as well if not better than the average college graduate. 14 years later as I make more money than my brothers and sisters who have bachelor's and master's degrees finally they understand that the degree itself doesn't matter of course unless you're trying to be a doctor or a lawyer will you need the credential. But I am in business and startups And I'm typically the only one in the meeting that doesn't have a master's degree from a top 10 college. Most assume i have an MBA from Cornell where my friends went lol.
Pure gold Dr. Davies. I hope James recovers well.
Best wishes & good health to Ant' . This lecture makes me wonder why every HS/jrHigh curriculum doesn't require a course along these lines.
Fantastic lecture. A few assumptions were made here:
1) You find a job at a bachelor's level in your field immediately after graduating.
2) The job market respects your degree and pays you more than you would earn with just a high school degree
3) Saturation of the college job market
4) Lifestyle creep, this was addressed in the Savings section of the talk
5) The major you choose at 18 may not be the one you want at 30
Hope James is alright.
Completely disregarded what if interest rates were half of the 5% he predicated on all of this for the past 15 years.
My only quibble is the advice about avoiding the stock market. IF you are disciplined and understand risk/return, then investing your second $10k in a mutual fund, a broad index ETF or even use a robo advisor. Of course most ppl are not financially disciple and a shocking number of people enjoy gambling.
I've been trying to explain this to my brother It was a TV other man and we're from Massachusetts and he's all excited about living in New York or Massachusetts making $180,000 a year I talk to him in to taking a job for 115,000 a year in Columbus Ohio because it cost the living is about half of what it is in the taxes are well below in New York he was living before in Oregon which also has a very high cost of living He's now saving about 60% of his income in Ohio and thanks before it lol.
The average truck driver in North Dakota making $82k has more purchasing power than the average journalist at the New York times making $180,000 a year. You can see this because the truck driver will own a house three cars have three or four kids have a bunch of four wheelers and a bow and all this stuff for the New York times journalist will live in a studio apartment and have a cat and can say how they can never afford to buy a house there or a condo or have kids.
Low cost of living but high income? Remote work helps.
Can we get the charts and tables you show in your lecture?
Ask and you shall receive...
docs.google.com/presentation/d/1adPTRVEAwUcQEtyJ3ZxuRB1xfR9AMV1d/edit?usp=drive_link&ouid=114409125659893818523&rtpof=true&sd=true
I listened to this, but I'd love to see the live lecture with the power point you were presumably working off of. Would that happen to be on your channel anywhere?
One of the biggest things I've learned about personal finance is to remain engaged. Once you set things on auto pilot, there's really not much else to do, but do what you have to do to keep it on your mind so you don't get complacent and buy the big stupid car or the big stupid house that you can't afford.
EDIT: Found it! ua-cam.com/video/TZlJmhhedcI/v-deo.html&ab_channel=AntonyDavies
Thank you!
I think you're getting something wrong with assuming college graduates make more money is because their college graduates We don't actually know that's the case. In order to actually find what's causal we need to do research and identify factors and identity traits like IQ, ambition, conscientiousness etc. Because people that actually go to college and complete college or on average fairly high in all of these traits that predict success in one's career. I tried to explain this to people when I dropped out of college 14 years ago that the college degree does not really matter at all and I am high and IQ ambition moderately high in conscientiousness and I will do just as well if not better than the average college graduate. 14 years later as I make more money than my brothers and sisters who have bachelor's and master's degrees finally they understand that the degree itself doesn't matter of course unless you're trying to be a doctor or a lawyer will you need the credential. But I am in business and startups And I'm typically the only one in the meeting that doesn't have a master's degree from a top 10 college. Most assume i have an MBA from Cornell where my friends went lol.