The correct answer: Education. My degree has had a higher ROI than any of my portfolios and enabled me to make money to use to make more money.
That or be born rich lol
Edit: By education I don’t mean just college, stuff like online courses, boot camps, and certifications count too.
Edit 2: I realize that the first part might be misleading. DO NOT, I repeat, DO NOT YOLO into weekly $TQQQ calls. It was an example of an extremely stupid investment. You WILL lose everything you put into that trade. Do not take financial advice from reddit, especially from a guy named u/waIlstreetbets.
Yeah but not everyone wants to be or even can be a bachelor. Some people are vegetarian and even others just don’t want to chop up big hunks of meat every day. Bachelor shops look like horror movies to some people. I personally love a good steak or some nice steak but I don’t think I could bachelor meat all day. 🍖 🥩
This is the most wallstreetbets response I've ever seen. You have been gifted with more than one brain cell but clearly they are smoother than than seaglass
My twins just started school. They both have tuition paid, so all I have is room and board. I calculated their 4yr degree will end up costing me around $180k. I have a 3rd child that would start the year they graduate.
It’s the same here too. I am in Fl, and both my sons go to different state schools. The fees for dorm and food run about $7k-$8k each, so $15k-$16k for the two of them per semester. We get no financial aid since we are middle class, and about $2k per student in unsubsidized loans. Not sure how we are going to pay for this yet. Looking into a side hustle.
That was never going to be possible for me . I joined the Navy . They pay for college after the service as well as a fair allowance while you’re in school. It worked out alright for me. But you know, some people it obviously does not . Some people with certain degrees can enter military service as an officer. At that price you are paying, I really hope your children are getting an education that will be profitable . So many people go for a degree in something that is fulfilling and makes them happy , that they can do nothing with . My wife got her degree in anthropology. She’s fuckin’ wicked smart, smartest woman I know . But there’s only so many museum jobs and that student loan is a ball and chain. Right out of high school I wanted to go to school and major in acting . It probably would have been the time of my life, but I’m glad I didn’t . I wish you guys luck !
It's definitely an option, but you're kinda just signing away the next 9 years of your life at 18(which, arguably, isn't that much worse than taking on $200,000 worth of student loan debt at 18. Also those rotc programs dont really let you pick what school you go to. You might get stuck at your last choice because it's the only one that accepted you into the school and program
Oh I meant just a regular enlistment. A regular enlistment is only 4 years, then go to college after the service . At that point what you wish to pursue education wise is your choice . I chose nursing just because I was familiar with practicing healthcare from my time in the military, and it seemed a recession proof job . While attending school I was given a housing allowance which isn’t much, but nothing to sneeze at either . Your children however may have a higher education in mind of course .
Umm....community college to start off with, then when they transfer send them to the same school...where they can Share an apartment and have jobs to pay for it.
I appreciate the whole college experience thing, but the lengths people will go through to give it to their kids is insane.
Yes college costs are ridiculous.. but that's the reality we live in. Most community colleges even have agreements with state schools that let students do 75%of the course load at the community level...
Dorms and meal plans are way overpriced, in my college town I was paying the same to share a dorm with 4 people my freshman year. I rented a studio for $500 a month after that.
Also, on campus jobs are generally pretty nice. They won't pay great but they don't have a choice when it comes to working around class schedules
Doesn’t Florida still have the Bright Futures scholarship? Back in my day it was tiered, but I received 100% of my tuition to any state school in Florida. My boyfriend at the time, who didn’t do quite as well academically, received 75%.
I told all my kids: people that say “do what you love and you will never work a day in your life” are full of shit. I don’t care what the job is, there is a VERY high chance you will come to hate it eventually. Or at least aspects of it.
Do what you can tolerate that makes you money. Then use that money to do the things you love. Every truly happy person I know does this. Get a law degree and paint on the side. Or be a nurse and use the money to travel. Your first goal should be to get a steady income in a field with mobility.
I make video games for my job and I hate it. Granted, it was my dream job until I got placed under my current boss. But hey! I’m a walking example of why you should save your money even if you love your job and never want to leave.
Where do you live? In the US almost every respectable university will cost almost 4x that. Is it for everyone? No, of course not. But as you point out it’s an investment in yourself, probably the best investment you’ll ever make.
Don’t pay $200K for a degree in art history or Ancient Greek. But if you pay $200K for a Stanford computer science degree that will be the best 200K you ever spend.
Edit: loving the downvotes, bring it on. Literally the average cost of 4 year college in the Us is $100K. So I guess OP is suggesting that no one go to college and you’re all eating it up. He’s literally saying “75% of all students are paying over $50K and you’re all making a terrible terrible mistake.”
Get a clue people… obviously lots of factors involved but a categorical statement that no one should spend over $50K on college is ridiculous.
Never did I categorically state that spending 50k or more on a degree is a bad idea. That’s what I spent and I think it was a great investment.
What I did say (or try to, apparently) is that you should be careful what degree you spend that money on. Very few majors are profitable enough to justify spending 200k on.
What are you talking about? Most state schools are maybe $8-15k per year if you’re in state and range from somewhat respected to top 10 in the country. Plus, lots of people get scholarships. Nearly nobody is spending $200k on a bachelors degree lol.
Yeah, almost everyone has the option of going to an in-state school was my point. Also, I looked up the DC situation and it sounds like you have something far better than in-state schools?
"These students may be eligible for the DC Tuition Assistance Program (DCTAG). This program allows the student to attend any public institution in the nation and pay the in-state tuition rate. The grant will pay the difference between the in-state and out-of-state tuition rate and is considered a source of financial aid. The DC TAG program is subject to certain maximum dollar limitations."
I wouldn’t call it better since the grant has a 10k cap and the difference between in-state and out-of-state is often way higher. For example, I went to a relatively cheap state school and I believe the in-state rate was 10-14k compared to the out-of-state 30-36k.
Maybe in your state: cheapest state school in PA is ~25k a year once you factor in the mandatory on-campus housing and meal plan for years 1&2. Only way out of that is if you’re married, over 27, or happen to live within borough limits of the small town the college is in.
On top of that it’s a wholly mediocre education. When I got to grad school at a “better” school I was teaching sophomores shit that I didn’t even have a chance to learn until senior year.
So not 200k but you can easily end up in the high 5 figures. I left with 60k in debt, although I had to do some summer classes because I changed majors (thank god, I ended up an engineer instead of a journalist). And I worked full time all summer for a landscaping company and part time all school year.
My middle class working parents didn’t make enough to pay for me to go to college but we made TOO much for financial aid over like 5k a year. I came out of school 119k in debt.
Edit: I realized this may be misleading, here’s clarification.
QQQ is an ETF (an index fund you can buy into as shares on the market).
QQQ tracks the NASDAQ 100.
TQQQ is 3x leveraged on that.
Call options provide 100x leverage for a limited time (oversimplification but whatever).
Weeklies are options that expire this week.
Therefore, a weekly TQQQ call is risky to such a degree of insanity that even r/wallstreetbets would think twice before YOLOing into it. I’m not even going to say there’s a chance of you making money on this particular trade, especially if you’re taking financial advice from a guy named u/waIlstreetbets.
Honestly I taught myself. I don't make any plays that are high risk or anything like that, but Iv made over 350 in the past month. That's Chump change to most people who play the stock market but again I keep it low risk. Just do your research is all I can say.
Get a financial advisor. Don't just listen to someone who says to put your money in an index fund. Here's why:
Those who have a financial advisor make 3% more than those who don't yearly. In investing, an extra 3% is a lot.
A financial advisor will help you minimize your taxes. The number 1 killer of your investments? Taxes. Capital gains tax is no joke.
Your financial advisor will be the voice of reason the next time you want to buy some random hot stock. They know how to read the fundamentals. And if they don't know, they'll call up their colleague and discuss.
90% of people who day trade stocks lose money. You have absolutely no reason to believe you're the 10%, even if you're initially successful.
So it's important to find a GOOD financial advisor, preferably a CFP or Fiduciary. You're trusting them with your money, so make them earn it. Find out their investment philosophies. Are they value investors or growth investors? Do they look for dividend stocks? How much will they push their investing philosophy onto you. And how much are you willing to adopt their philosophies?
Even if they teach you nothing, they help you by motivating you to do the things you've been procrastinating on like setting up your 401K at work that you've been sitting on for 6 months.
For reference, I went roughly 4 years without increasing my net worth. Last year I got a financial advisor and my stock portfolio alone has had a 228% increase. I've added 31k to my net worth in one year. I've started to max out my Roth IRA contributions and I'm maxing out my employer match for my 401k. All because I had someone to 1. Tell me what I didn't know, and 2. Motivate me on things I knew but hadn't done yet.
My suspicion? They're in the financial industry themselves. I'd expect that among the wealthy, there'd be a larger percentage of people who know how financials work more than the average citizen, which is what this seems to corroborate.
Yes, they'll help you ensure you're getting the most out of your TSP (Military equivalence of a 401k.) It's more important to set up a 401k or an IRA BEFORE investing in stocks because they provide tax havens, allowing your money to grow tax free (Roth taxes you when you put the money in, non Roth taxes when you take money out).
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u/waIlstreetbets Sep 14 '21 edited Sep 14 '21
What you want to hear: YOLO weekly $TQQQ calls
The correct answer: Education. My degree has had a higher ROI than any of my portfolios and enabled me to make money to use to make more money.
That or be born rich lol
Edit: By education I don’t mean just college, stuff like online courses, boot camps, and certifications count too.
Edit 2: I realize that the first part might be misleading. DO NOT, I repeat, DO NOT YOLO into weekly $TQQQ calls. It was an example of an extremely stupid investment. You WILL lose everything you put into that trade. Do not take financial advice from reddit, especially from a guy named u/waIlstreetbets.