I only wish I had gotten to where I am faster. Kind of a case where I didn't realize I could do exactly what I wanted to do until I was in my 30s, even though I had picked the general field since college.
Friday OT #2 - I Wanna Go Back And Do It All Over
- Thread starter Angie
- Start date
I got my Aero E degree and always wanted to be a rocket scientist. Too much Star Wars/Trek as a kid.
After graduation, had a kid and married too quickly, and took a sales job to stay in Iowa close to family. Turned down two space jobs, one in Cali and one in Colorado.
Wish I would have stayed in the space things. I'd have been divorced a lot earlier, and be a lot poorer today. But I love my kids and I'm ok where I am. Just wish I had enough $$ to buy a seat on the Dragon moon free return when it happens...
After graduation, had a kid and married too quickly, and took a sales job to stay in Iowa close to family. Turned down two space jobs, one in Cali and one in Colorado.
Wish I would have stayed in the space things. I'd have been divorced a lot earlier, and be a lot poorer today. But I love my kids and I'm ok where I am. Just wish I had enough $$ to buy a seat on the Dragon moon free return when it happens...
I'd definitely look into going into a money management firm, not quite Wolf of Wallstreet but along that vane. And I'd be one of the best ever (as long as I can take this little DOW chart with me back).
You can say that because you got yourself a sugar momma.
I am fantastically charming and handsome.
That being said... I have been more of the sugar daddy so far. I am going to see if that is still going to be the case if you take a more long-term perspective on it.
My postsecondary education took 5.5 years and cost <$25,000 out of pocket.
Hers took 8.0 years, cost >$250,000 in total, and even with an endowment from her late grandfather, her student loads were still in the $200,000 range when we wed. Most of that difference is medical school tuition, which is terribly expensive, plus room and board while an undergraduate in Gainesville. I lived at home in Boone.
Her training further requires three years for a residency -- being paid roughly $55,000 during it -- and three more years for a fellowship -- ditto, maybe slightly more. She is into that fellowship now, but she is not yet making real doctor money.
Average annual compensation for her specialty is $244,000 per year. That is more than I make but... not like tremendously more. I am closing in on it.
That is on the lower end for doctors overall, which average $314,000 across all specialties. Pediatricians make less than adult doctors for several reasons, but one of the major ones is that kids tend to have coverage through CHIP/Medicaid more than adults, which reimbursed at lower rates than employer-provided insurance and Medicare.
You add all that up and, well, at a 0% discount rate, she does not pass me net of those costs until our mid-40s or so. If you were to take a NPV view of it starting when we were both 18, at a 5% discount rate, she never passes my lifetime income (assuming 2.5% wage growth for both of us throughout our careers to age 60). I always end up a little bit ahead. Messing with the discount rate (3%, 8%, etc.) still leaves me ahead by varying amounts.
Most of her costs are upfront --
-- higher costs and tuition for her education
-- more time out of the labor force
-- six years stuck making resident/fellow money and not attending money
...and she only starts to earn more than me in her early 30s, which means the discount rate wears down her advantages and emphasizes her short-term costs.
Me making more money earlier and avoiding a lot of expenses in my education and early career builds up an advantage her higher income later in life cannot overcome. Plus, she has told me she might not want to work "full-time" as an attending (roughly 50 hours per week), but rather at "0.7" in doctor parlance (or 70% of 50 hours, or around 35-40 hours per week with her income scaling down proportionally with any reduction in hours).
So I am coming out ahead almost no matter how you slice this.
So I am the sugar daddy, too.
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I am fantastically charming and handsome.
That being said... I have been more of the sugar daddy so far. I am going to see if that is still going to be the case if you take a more long-term perspective on it.
My postsecondary education took 5.5 years and cost <$25,000 out of pocket.
Hers took 8.0 years, cost >$250,000 in total, and even with an endowment from her late grandfather, her student loads were still in the $200,000 range when we wed. Most of that difference is medical school tuition, which is terribly expensive, plus room and board while an undergraduate in Gainesville. I lived at home in Boone.
Her training further requires three years for a residency -- being paid roughly $55,000 during it -- and three more years for a fellowship -- ditto, maybe slightly more. She is into that fellowship now, but she is not yet making real doctor money.
Average annual compensation for her specialty is $244,000 per year. That is more than I make but... not like tremendously more. I am closing in on it.
That is on the lower end for doctors overall, which average $314,000 across all specialties. Pediatricians make less than adult doctors for several reasons, but one of the major ones is that kids tend to have coverage through CHIP/Medicaid more than adults, which reimbursed at lower rates than employer-provided insurance and Medicare.
You add all that up and, well, at a 0% discount rate, she does not pass me net of those costs until our mid-40s or so. If you were to take a NPV view of it starting when we were both 18, at a 5% discount rate, she never passes my lifetime income (assuming 2.5% wage growth for both of us throughout our careers to age 60). I always end up a little bit ahead. Messing with the discount rate (3%, 8%, etc.) still leaves me ahead by varying amounts.
Most of her costs are upfront --
-- higher costs and tuition for her education
-- more time out of the labor force
-- six years stuck making resident/fellow money and not attending money
...and she only starts to earn more than me in her early 30s, which means the discount rate wears down her advantages and emphasizes her short-term costs.
Me making more money earlier and avoiding a lot of expenses in my education and early career builds up an advantage her higher income later in life cannot overcome. Plus, she has told me she might not want to work "full-time" as an attending (roughly 50 hours per week), but rather at "0.7" in doctor parlance (or 70% of 50 hours, or around 35-40 hours per week with her income scaling down proportionally with any reduction in hours).
So I am coming out ahead almost no matter how you slice this.
So I am the sugar daddy, too.
My niece is in her second year of Med school at DMU. She wants to stay southern MN, where she’s from. She got married over the summer and the living expenses are basically taken care of. She is also getting lucky that her first waive of internships is at her local hospitals (her mom, my sister, is their old CFO so she had connections). And that will save some money.
Feel lucky, you could have married a teacher like me and get to pay their loans when they don’t make much.
Speaking in purely financial terms, by far the highest return of my education was proving myself worthy to her and her family as a potential partner.
If "southern Minnesota" means "Rochester," then it should be easy enough for her. Mayo Eugenio Litta has already contacted my wife once or twice.
Speaking in purely financial terms, by far the highest return of my education was proving myself worthy to her and her family as a potential partner.
If "southern Minnesota" means "Rochester," then it should be easy enough for her. Mayo Eugenio Litta has already contacted my wife once or twice.
No, she did do research there but Austin/Albert Lea.
I wanted to sing, professionally (as part of a band or some sort of touring group). I also wanted kids & a family. Unless you are SUPER successful, the two tend to be mutually exclusive.
Eventually I did become a "professional soloist" as a side gig. I was "on call" at the local funeral home for bereaved families that did not have someone they knew for a soloist. I sang mostly hymns & old standards of their choice (hum a few bars & I can fake it...) I also was the soloist for quite a few weddings.
Eventually I did become a "professional soloist" as a side gig. I was "on call" at the local funeral home for bereaved families that did not have someone they knew for a soloist. I sang mostly hymns & old standards of their choice (hum a few bars & I can fake it...) I also was the soloist for quite a few weddings.
I'm only 5 years into my career but assuming I could make what I do now and have the same work life balance (basically impossible).
I always wanted to be a chef. Cooking and especially baking has come naturally for me. Heck I've won blue ribbons at state fairs so my stuff is good. I'm also a "super taster" so I am pretty good at discerning ingredients and can recreate recipes from meals I've tasted pretty quickly.
There's a famous story of a former CTO of my company that took his 10 year sabbatical and took the time to go to Culinary School.(https://en.wikipedia.org/wiki/Nathan_Myhrvold ) He is now an award winning chef and author. He's way smarter than me though, I mean **** he has master degrees in Physics and Mathematical Economics.
But that story has stuck out for me and I think when I do my 10-year sabbatical (or 20 year) I might do the same thing and go to culinary school. Even if I never do anything with it, I would love to learn from experts and just elevate my cooking to another level
I love my job though and have done pretty well at it and it is satisfying to me. It requires me to travel around the country and world and to experience the different cultures while helping companies get to the bleeding edge of technology is amazing. Pretty hard to pass up.
I always wanted to be a chef. Cooking and especially baking has come naturally for me. Heck I've won blue ribbons at state fairs so my stuff is good. I'm also a "super taster" so I am pretty good at discerning ingredients and can recreate recipes from meals I've tasted pretty quickly.
There's a famous story of a former CTO of my company that took his 10 year sabbatical and took the time to go to Culinary School.(https://en.wikipedia.org/wiki/Nathan_Myhrvold ) He is now an award winning chef and author. He's way smarter than me though, I mean **** he has master degrees in Physics and Mathematical Economics.
But that story has stuck out for me and I think when I do my 10-year sabbatical (or 20 year) I might do the same thing and go to culinary school. Even if I never do anything with it, I would love to learn from experts and just elevate my cooking to another level
I love my job though and have done pretty well at it and it is satisfying to me. It requires me to travel around the country and world and to experience the different cultures while helping companies get to the bleeding edge of technology is amazing. Pretty hard to pass up.
I remember the first class at ISU I attended was intro to Cultural Anthropology. The class was in a big auditorium in Curtis Hall. First day of class we started out talking about the study of ancient human history through archaeology. Professor asks "What do you think of when you hear archaeology?" Of course he knew what answer he would get but I went ahead and yelled out "Indiana Jones!" He says "Yes! Indiana Jones... and it's nothing like that sh!t!" The place erupted in laughter.
Wish I did the military. I was able, so I feel like I should have. Now, I have a desk job, a family, and absolutely zero adventure. Hard for me to regret where I’m at, but that’s mine for sure.
2nd place would probably be something in the medical field rather than my current career.
Basically I’m looking for more fulfillment of helping people rather than just “our shareholders”.
2nd place would probably be something in the medical field rather than my current career.
Basically I’m looking for more fulfillment of helping people rather than just “our shareholders”.
To be fair, Indiana Jones said basically that, too.
You are looking for fact here, not truth.
Most of archaeology is done in the library.
