What age to be a millionaire?

[Treeshark]

???

Western big game hunting ain’t cheap for us lousy NR’s, and it’s only going to cost more in the future.

 

[Deleted member 28227]

Solely speaking in terms of learning beyond high school, I view Education and College as two increasingly disparate things. Not because of politics, cost of attendance, or access issues as highlighted in the article, but as a product of actually working with folks who have or don't have those credentials. Real life experience. I suppose the growing irrelevance of college as it has been traditionally configured and valued is related to the 3 factors listed in the article, and it is of course different for different careers, but in the world of technology, college is increasingly little more than a certification.

I don't know if I agree.

Sure there are some people who go far without a college degree, but aren't they more outliers?

I'd bet that in any field where someone makes over $250k 85+% have a college degree, and that that income is strongly correlated with the ranking of that program on US news and world report.

Going to Princeton doesn't guarantee you a high paying job, but no matter how much folks like to pretend that it isn't true, there are actually paths to certain careers, and while you can get there other routes it's exceedingly more difficult if not impossible to do so.

 

[mevertsen]

Mid 40’s

43 or 44

 

[noharleyyet]

43 or 44

Yep, I finger cyphered 43.

Awaiting avidoutsumpthin’s thumbage.

 

[Nameless Range]

I don't know if I agree.

Sure there are some people who go far without a college degree, but aren't they more outliers?

I'd bet that in any field where someone makes over $250k 85+% have a college degree, and that that income is strongly correlated with the ranking of that program on US news and world report.

Going to Princeton doesn't guarantee you a high paying job, but no matter how much folks like to pretend that it isn't true, there are actually paths to certain careers, and while you can get there other routes it's exceedingly more difficult if not impossible to do so.

I'd agree they are outliers.And to be clear, I am talking about my own views when hiring and what I see around me. Many jobs and or careers require degrees needlessly IMO. Most folks in the workforce attended school pre-2010s, when the inflation of university costs really started to exceed it's value in many fields. I think a part of that is as a percentage of the population, way more folks have college degrees than was historic and so though I do think you are right that at the tail of the distribution, dang near everyone will have a college degree, it's in the middle of that bell curve that I'd wager we will increasingly see people who didn't attend college making "good" money. It will be interesting to see what the stats look like in 20 years, and I could be wrong .

But for maybe a couple acquaintances with law degrees, I don't think I personally know many folks who make 250k - friends in low places and all that - but I know quite a few who make 100K+ in the computer sciences field (developers, admins, DBAs,) with associates degrees or less.

All of this is highly contingent on the career of choice.

 

[gouch]

I remember when if a person had a net worth of a million dollars, he was a very wealthy person, and the average Joe could only dream of such riches. Now if you're worth a mil. you're middle class. Now the average Joe is wondering how old he will be when he is worth a mil. But it doesn't really make a difference because the point creep on wealth is far worse than it is on any OIL tag you might ever hope to get.

 

[seeth07]

But for maybe a couple acquaintances with law degrees, I don't think I personally know many folks who make 250k - friends in low places and all that - but I know quite a few who make 100K+ in the computer sciences field (developers, admins, DBAs,) with associates degrees or less.

Just about everyone at my company has at least an associated degree. Not including benefits such as 401k match, insurance, etc. the lowest full time employee last year made 85k with a bulk of the people in the associated degree range making between 100k-120k. That is pretty close to your observation as well.

Most of those with at least a bachelors degree made between 150k and 200k. There are people at the 150k level that if they didn't have the degree, they would be paid in that associated degree range of 100-120k so I'd say that there is still an enormous value to the education it provides.

We are a full combined Architectural/Building Engineering firm.

 

[Nameless Range]

Just about everyone at my company has at least an associated degree. Not including benefits such as 401k match, insurance, etc. the lowest full time employee last year made 85k with a bulk of the people in the associated degree range making between 100k-120k. That is pretty close to your observation as well.

Most of those with at least a bachelors degree made between 150k and 200k. There are people at the 150k level that if they didn't have the degree, they would be paid in that associated degree range of 100-120k so I'd say that there is still an enormous value to the education it provides.

We are a full combined Architectural/Building Engineering firm.

I wonder how much perception on this issue is Artifact Error. In the same way that a net with 1 inch mesh will only catch fish larger than 1 inch, if certain jobs require a degree as a qualification, then all of those who excel in that career path will necessarily have that degree. Even in the example you give above, folks are incentivized to get higher degrees - and I'm not saying there's anything wrong with that.

I am wondering chiefly about aptitude, which though correlates to, is separate from wages. I have my own bias on this, but years back when a place I worked abandoned requiring a certain level of degree and pulled applicants from pools they historically would have ignored, it was kind of a revelation to me how many very capable people there are out there and maybe made me question whether certain types of merit should be weighted just as heavily as degrees.

I'm kind of derailing the thread though, and a millionaire I ain't, so take it with a grain of salt.

 

[seeth07]

I am wondering chiefly about aptitude, which though correlates to, is separate from wages. I have my own bias on this, but years back when a place I worked abandoned requiring a certain level of degree and pulled applicants from pools they historically would have ignored, it was kind of a revelation to me how many very capable people there are out there and maybe made me question whether certain types of merit should be weighted just as heavily as degrees.

This is spot on. There are people in our office that should be paid higher based on what they provide compared to others that do have the higher degree. It is only short term as we do have performance based raises and the associated degree person that performs well can easily move up and past equal employees with the degree. They are just starting from a further point back than the person who did the extra 2-4 years of school.

 

[F250]

Yes. Way better. And the POTUS had little to nothing to do with that. Thinking that the POTUS has a big influence on the overall economy/stock market/individual success is wildly inaccurate. Folks on fixed income will disagree with you. A trip to the grocery store, car repairs , buy a box of ammo, or buy some clothes will show that the ridiculous rise of inflation over the past 3 years has been devastating. Perhaps just a coincidence that there was a change at the top .

 

[Deleted member 28227]

I wonder how much perception on this issue is Artifact Error. In the same way that a net with 1 inch mesh will only catch fish larger than 1 inch, if certain jobs require a degree as a qualification, then all of those who excel in that career path will necessarily have that degree. Even in the example you give above, folks are incentivized to get higher degrees - and I'm not saying there's anything wrong with that.

I am wondering chiefly about aptitude, which though correlates to, is separate from wages. I have my own bias on this, but years back when a place I worked abandoned requiring a certain level of degree and pulled applicants from pools they historically would have ignored, it was kind of a revelation to me how many very capable people there are out there and maybe made me question whether certain types of merit should be weighted just as heavily as degrees.

I'm kind of derailing the thread though, and a millionaire I ain't, so take it with a grain of salt.

I'd agree they are outliers.And to be clear, I am talking about my own views when hiring and what I see around me. Many jobs and or careers require degrees needlessly IMO. Most folks in the workforce attended school pre-2010s, when the inflation of university costs really started to exceed it's value in many fields. I think a part of that is as a percentage of the population, way more folks have college degrees than was historic and so though I do think you are right that at the tail of the distribution, dang near everyone will have a college degree, it's in the middle of that bell curve that I'd wager we will increasingly see people who didn't attend college making "good" money. It will be interesting to see what the stats look like in 20 years, and I could be wrong .

But for maybe a couple acquaintances with law degrees, I don't think I personally know many folks who make 250k - friends in low places and all that - but I know quite a few who make 100K+ in the computer sciences field (developers, admins, DBAs,) with associates degrees or less.

All of this is highly contingent on the career of choice.

I agree with about whether the degree is necessary to actually do the job, but my point is that the degree is still necessary to get the job.

The fact that so many folks did get degrees, if anything, makes it more important in order to set yourself apart.

 

[Marshian]

It seem like for quite some time now, college itself is just a sorting mechanism to show you are bright enough to pass some courses and determined and organized enough to meet deadlines. The rest is mostly just fluff except for certain STEM fields.

 

[MLC]

My wife and I have nice pensions plus social security and, because our homes have appreciated so much, I guess we qualify ($1 M net worth). But I don’t know how young people with families today make ends meet. I often tag along to the grocery store and the cost of groceries is staggering compared to 5 - 10 years ago. And it’s just the two of us. We used to dine out a lot. We don’t anymore because of both ridiculously high restaurant prices and more often than not, lousy food. I read letters to the editor from people who have their homes paid for, but now their property taxes are equal to what their mortgage payments were. And yet whenever we fly someplace, I see groups of kids, middle school age and I ask where they’re from. They tell me they’re flying somewhere to a volleyball tournament or a soccer tournament or a lacrosse tournament. I don’t get it. To all you young guys raising a family today, good luck!

 

[Elky Welky]

i'm gonna say that incontrovertibly money cannot and will not buy happiness.

it can make life easier, it can provide many comforts, and can provide plenty of joys in life.

but i'd go so far as to say it's embedded in the physical laws of nature in this universe that if you're not able to be happy and content with what you already have you won't be happy with more than that.

A good friend of mine once pointed out that though money doesn't buy happiness, it does buy ice cream. And ice cream is happiness.

I can't argue with that logic.

However, as a millennial living the millennial dream (humanities degrees, student debt, avocado toast, no house, no spouse, the works), I don't expect to leave this life with a million in the bank. But if I've made the world a better place... well, then at least I'll have satisfied that cliche as well.

Really, I just need enough to fill my gas tank so I can keep chasing elk.

 

[jpcoll01]

... the point creep on wealth is far worse than it is on any OIL tag you might ever hope to get.

This right here...

 

[Brittany Chukarman]

I think "hard savings" is what is needed. Even if you work hard and get good returns, if you aren't saving you won't have much money. Myself, I'm a thousandaire many times over.

From Charlie Munger: " Live within your income and save so that you can invest. Learn what you need to learn."

Not so easy in these inflationary times

 

[cgasner1]

I don't know if I agree.

Sure there are some people who go far without a college degree, but aren't they more outliers?

I'd bet that in any field where someone makes over $250k 85+% have a college degree, and that that income is strongly correlated with the ranking of that program on US news and world report.

Going to Princeton doesn't guarantee you a high paying job, but no matter how much folks like to pretend that it isn't true, there are actually paths to certain careers, and while you can get there other routes it's exceedingly more difficult if not impossible to do so.

I hated school bare minimum to skate through highschool for my parents. Obviously didn’t go to college. If I wanted to quit my job right now and uproot everything I could make over 300k this year. College isn’t the end all be all if a guy is smart enough to find another way

 

[SAJ-99]

I am wondering chiefly about aptitude, which though correlates to, is separate from wages. I have my own bias on this, but years back when a place I worked abandoned requiring a certain level of degree and pulled applicants from pools they historically would have ignored, it was kind of a revelation to me how many very capable people there are out there and maybe made me question whether certain types of merit should be weighted just as heavily as degrees.

That is always the case. I would venture to bet that a having a college degree correlates highly with success. Employers know this and is how we get to the posittion where a lot of positions require degrees that aren;t all that necessary. But there certainly are exceptions, and some fields will be different than others. Every profession sells experience. I like an experienced doctor, dentist, lawyer, etc, but I don't think I will go to one that sold their "life experience" over a college degree.

@F250, who the hell is on a fixed income? Short of someone who used their life savings to buy an annuity, no one should be on a fixed income. But that's on them.

 

[Deleted member 28227]

I hated school bare minimum to skate through highschool for my parents. Obviously didn’t go to college. If I wanted to quit my job right now and uproot everything I could make over 300k this year. College isn’t the end all be all if a guy is smart enough to find another way

Not everyone is blessed with onlyfans feet.

 

[cgasner1]

Not everyone is blessed with onlyfans feet.

It actually the arm pit people are weird