It is not about how much you make. But about how much you keep.
Millienials are about to inherit $30 trillion. How many will squander it like Johnny Depp. And how many will be able to grow a modest nurses salary into a fortune?
My guess is only 5 percent have the discipline and risk tolerance to invest well.
my sister is a pharmacist and she keep bitching these nurse makes hella lotâŚ
I knew a rich teacher once. He would build spec homes in the summertime. Nobody will get rich doing W2 work.
Thanks to liberals and nimbyies, worker bees are all just rats competing on a treadmill. Beating the system gets harder with each new law written. Restrictions and regulations hurt the little guy more than the corporations targeted.
Civil engineers are known as the dumbest engineers. Our physics TAs at Berkeley would remind us of that constantly. Like that asshole on Big Bang Theory, who by the way is perpetually poor.
I knew early on that engineering was not a path to wealth. I saw many engineers get out of the profession by 40. Even most lawyers I know are not wealthy.
Investing and risk taking is required to get ahead in the BA. There are just too many smart risk takers to compete with.
Oh, I donât know about that. Frankly, if I had your bankroll I could make a fortune here doing house flips and such for many moons now. Opportunities come up all the time, just need capital that is accessible immediately, which is the hard partâŚ
Risk taking is for youngsters. I am risk adverse . More into preservation
I am not asking you to put your zillions in some hot shot startup. I mean, you wouldnât buy a good priced building or lot in say Fab 7x7 or SV and do it right?
No too many rules and obstacles. I donât even like the gyrations of the stock market. Prefer bread and butter rentals. Invest a bit in first trust deeds at 8%. Shopping for the best CDs.
You ever do tax liens? They claim to pay pretty well, and youâre guaranteed to eventually get paid. It can take up to 2-3 years in some states. My dad has bought quite a bit of land that was owned by counties for back taxes. Small counties donât have the records online, so he just goes and asks in person. Land usually doesnât have a mortgage, so a bank wonât pay the taxes for the owner. The county actually takes the land.
All pharmacists are like that. I have another friend, also a pharmacist, who cannot stop whining about her work life and pay.
No tax liens for meâŚremember the couple that bought a street in SFâŚnightmareâŚThere has to be a reason why people will let a property go for 1-10% of its valueâŚNot worth the hassleâŚ
Pharmacists are screwedâŚJust employees of Safeway or CvsâŚ$90k.
My grandfather was a pharmacist in the 20s and 30sâŚThe good old daysâŚThey could sell liquorâŚBig money. My dad got to go to a prep school and PrincetonâŚ
They make six figures here, but their hours get cut because their profession is being automated. Not a good time to enter a sunsetting industry.
Making an extra 30% or even even 50% in the BA does not help when house prices are 4 times the cost of other areasâŚprofessionals including doctors have a lower standard of living than say Boise or Des Moines
Itâs often because the owner dies and the heirs donât know about the land and taxes. That SF couple got screwed. I could see that happening here too. King County does an annual online auction of land it owns for back taxes. That makes it hard to find a deal, since the info is easy to get. Itâs crazy how many random land locked parcels are out there.
Land is rarely worth with muchâŚChasing cheap land isnât worth the effortâŚFor instance there are 10k empty lots in San Mateo countyâŚI bet 90% have little value due to restrictionsâŚlike no water or sewerâŚ
Pay of other functions didnât go up as much as those involved in the hi tech. Also, there is a global accelerated appreciation of real estate prices. There are some macro factors in play. Could be double income, smaller nucleus family, fiat instead of gold as money, âŚ