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Lets take NY state for instance, if you were to start off with 50K a year salary you will only get $31106.25 of it.
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<p>Okay, then. Reap souls, win the lottery, and live in Texas. I take home over 70% of my money! =)</p>
<p>Where are you managing a 15% interest rate, mo24? I'd like to sign up.</p>
<p>aggressive vanguard mutual funds can be at 15%</p>
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aggressive vanguard mutual funds can be at 15%
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<p>And sometimes, at <em>negative</em> 15%!</p>
<p>10-15% if you know what you're doing is definitely possible</p>
<p>10% per year is supposedly the historic return on the aggregate US stock market over the last 100 years, but it's important to note that the last 100 years have been pretty good to the US. I wonder how the French (or German or UK...) stock market did?</p>
<p>You guys are hilarious!
I share your dilemma rkbgt. This is what I have learned/am learning. </p>
<p>I was told by people who don't have much money that engineers make a lot of money. This is true by their standards. However, the money I was talking about is most likely what you are talking about: millions, billions, $$$$$ not $.
It is true that we start at high salaries for new grads but it tends to level out. If you want to get higher you have to work into middle/upper management. Also who you work for definitely is a factor, as well as your work quality. How flexible you are as far as location plays a role too. I know a young engineer who started around 60 and through performance raises reached about 80 within a few years. He is now making 90 b/c he was willing to relocate to another state. </p>
<p>Now back to the major $$$$. Here is the key. Go to a very prestigious university...(hint hint IVY LEAGUE). Network, kiss a$$, and study hard so that you can go work on Wall Street. The end. </p>
<p>Well, here is the kicker...Wall Street jobs are insanely competitive and as I mentioned the Ivy Leaguers has first dibs. I believe Dr. Horse really had the best answered. If you can manage your money very wisely you can attain financial independence (meaning passive income is greater than expenses) quicker than most because of the starting advantage engineers provide. Ultimately I do not care about $$$$$, I will be satisfied with finding a beautiful wife and having a blessed, wonderful, sex filled marriage that truly lasts until death does us part and enough money to enjoy vacations and not have to worry about anything financial. I do not need a 250 ft yacht.</p>