mentos

7+ Year Member
Nov 22, 2009
1,222
1,421
181
Status
Couple meets in college....babe gets a BSN....Guy works part time as a newbie or journeyman plumber..while getting a business BA ....reasonable school expenses.....They start a plumbing business and begin to make coin.....
The plumber doesn't even need to go to college or a degree, he can start right out of high school without the debt.
 

mentos

7+ Year Member
Nov 22, 2009
1,222
1,421
181
Status
Time have changed and people keep comparing their old life and extrapolate it to a 2019 new grad.
According to this, a single person who maxes 401k will have 2.3 million so a couple will have 4.6 million. That was written 2 years ago when 401k limit was only 18k. That's not even counting the other investment vehicles.

There's people with 40k pre-tax salaries who max out 401k. If they can do it then someone with 100k salary surely can.

 

wagrxm2000

Think before responding to this.
2+ Year Member
Sep 17, 2014
3,026
1,682
81
Time have changed and people keep comparing their old life and extrapolate it to a 2019 new grad.
Nothing in my scenario is false. Did I get extremely specific? No but I solved your house down payment problem.

Not sure why you think it's so hard to accomplish.
 

wagrxm2000

Think before responding to this.
2+ Year Member
Sep 17, 2014
3,026
1,682
81
According to this, a single person who maxes 401k will have 2.3 million so a couple will have 4.6 million. That was written 2 years ago when 401k limit was only 18k. That's not even counting the other investment vehicles.

There's people with 40k pre-tax salaries who max out 401k. If they can do it then someone with 100k salary surely can.

The problem is people don't know how to budget, it really isn't that hard
 

Singuy

5+ Year Member
Jul 1, 2013
52
26
111
Status
Nothing in my scenario is false. Did I get extremely specific? No but I solved your house down payment problem.

Not sure why you think it's so hard to accomplish.
I have a hard time understanding your scenario and it's hard to follow. 48k is the household student loan debt? Both graduated at 22?(which very few pharmacist graduate at 22..in fact only 54% of college students graduate after 6 years and the rest don't even graduate).

So I see that you had very low student loan debt, and both graduated early and start making money. Also I guess there are no personal credit card debts? Parents covering insurance cost?

A lot of outliers that doesn't explain the typical RPH graduating today with 150k worth of debt, 24-28 years old, and are not married with a spouse making good money as well. A lot of things need to happen in your scenario like early graduation, early marriage, spouse making money, parents paying for insurance, and under 50k worth of student loans....
 

Singuy

5+ Year Member
Jul 1, 2013
52
26
111
Status
The problem is people don't know how to budget, it really isn't that hard
It's not about budgeting, it's about using realistic numbers and applying to real life. Look I had a crap ton of help. My parents paid for my tuition, and put 100k down toward my house. My wife wasn't so lucky and came out with 186k worth of loans. We are now 36 and have a net worth over 2 million and zero debt(including mortgage). So yeah..I know how to play this game.

But I also understand that I had some privileges that other people doesn't enjoy. So I'm not going to throw out unrealistic scenarios and blaming people for not knowing how to budget because of how successful I am.
 
May 15, 2019
1
0
1
Status
Pharmacist
This is pathetic and less than I was making at Walgreens 11 years ago. However, now I am on the job search and would be happy for any job offer. So lame what pharmacy has become. The PBM's are to blame for this.
 

wagrxm2000

Think before responding to this.
2+ Year Member
Sep 17, 2014
3,026
1,682
81
I have a hard time understanding your scenario and it's hard to follow. 48k is the household student loan debt? Both graduated at 22?(which very few pharmacist graduate at 22..in fact only 54% of college students graduate after 6 years and the rest don't even graduate).

So I see that you had very low student loan debt, and both graduated early and start making money. Also I guess there are no personal credit card debts? Parents covering insurance cost?

A lot of outliers that doesn't explain the typical RPH graduating today with 150k worth of debt, 24-28 years old, and are not married with a spouse making good money as well. A lot of things need to happen in your scenario like early graduation, early marriage, spouse making money, parents paying for insurance, and under 50k worth of student loans....
No 48k was how much was paid during that time frame. The loan payment is 2k per month for 10 years so two years is 48k.

No the guy graduates with a bachelors at 22, she graduates at 24. The guy brings home 40k a year and she will bring home 80k. During the two years she is still in college, he brings home 80k and covers 60k in expenses over that time and puts the rest in an emergency fund.

Read it again, it's not that hard to understand especially if you help students with finances which I hope you tell them to live cheap for a few years after graduating to get their emergency fund and savings for a down payment on a house.

I get that you are stuck on one person being the provider but when your kids are in school there is no reason both parents shouldn't be working.
 
Last edited:

mentos

7+ Year Member
Nov 22, 2009
1,222
1,421
181
Status
There is quite a bit of book learnen for a master plumber..electrician..etc.....to get the license..
They don't need to go to college though. My friend is an electrician and bought a home, became a landlord, owned multiple vehicles while the rest of us were paying down loans. Works for a company full time and does side gigs for fun money.
 
Jan 9, 2019
191
262
41
This is pathetic and less than I was making at Walgreens 11 years ago. However, now I am on the job search and would be happy for any job offer. So lame what pharmacy has become. The PBM's are to blame for this.
The PBM’s are to blame for this? When you have 15,000 new grads each year with $200k+ in loans desperate for jobs, why wouldn’t the corporate retail chains slash salaries because they can? It’s a simple principle of supply and demand. Nothing to do with reimbursements.
 
  • Like
Reactions: mentos

Rainee

7+ Year Member
Mar 31, 2010
1,314
900
181
Status
They don't need to go to college though. My friend is an electrician and bought a home, became a landlord, owned multiple vehicles while the rest of us were paying down loans. Works for a company full time and does side gigs for fun money.
Electricians and plumbers are always in need. There is always a leak and or a electrical problem in some area. Yes you can work for corporate, but you can also work for yourself and make really good money. I have alot of plumbers/electricians in my practice and they are rollling in dough. I did talk to a plumber about how long it takes to become proficient enough- he says 8 years or so. The downsides to the job is alot of poop, gross smells, and rodents.

Electrican you can literally die on the job.

So yes the tradeskills are good but they also carry alot of risks and unpleasant things. Pharmacy you work in air-con and clock in and out.
 
  • Like
Reactions: mentos

Timbo

7+ Year Member
Dec 31, 2010
268
152
181
Status
Pharmacist
The PBM’s are to blame for this? When you have 15,000 new grads each year with $200k+ in loans desperate for jobs, why wouldn’t the corporate retail chains slash salaries because they can? It’s a simple principle of supply and demand. Nothing to do with reimbursements.
Except lots of pharmacies are closing. Shopko closed all their pharmacies recently. Independents have been on a steady decline. Pharmacy is no longer a very profitable business
 
Jan 9, 2019
191
262
41
Except lots of pharmacies are closing. Shopko closed all their pharmacies recently. Independents have been on a steady decline. Pharmacy is no longer a very profitable business
The amount of pharmacists hitting the job market due to pharmacy closures/getting laid off is a drop in the bucket compared to the number of new grad pharmacists hitting the market each year. We’re talking about maybe a couple hundred pharmacists vs 15,000 here.
 
  • Like
Reactions: projektreverb