> $180,000 on a 4-year degree in 2018 would’ve been a $160,000 downpayment on a house for my parents generation, plus the $20,000 four year degree.
$160k would buy the whole house! (If not, most of it!)
> Success only begins when you build enough wealth to pay for:
> Your own continuing education: $0 — $125,000
> A home for your family: $750,000 — $1,500,000 (depending on how far you are willing to move from a major urban center — but don’t move too far because the wages go down too)
> Education for your children: $180,000 — $325,000 (start at the bottom of the range if your kids are 18 today, move up accordingly)
> Medical expenses: $50,000 guaranteed between childbirth and insurance, more with pre-existing conditions or any large event
> Your own medical care as you age: $0 — $LOTS
I get the feeling that the author purposefully picked one of the worst places to build wealth with "average" incomes (which so happens to be where he lives). While these are bad, these prices aren't average.
I live in the rust belt and might be making some very large (read: expensive!) life changes in the next year or two. There is no way it's going to this expensive.
$160k would buy the whole house! (If not, most of it!)
> Success only begins when you build enough wealth to pay for:
> Your own continuing education: $0 — $125,000
> A home for your family: $750,000 — $1,500,000 (depending on how far you are willing to move from a major urban center — but don’t move too far because the wages go down too)
> Education for your children: $180,000 — $325,000 (start at the bottom of the range if your kids are 18 today, move up accordingly)
> Medical expenses: $50,000 guaranteed between childbirth and insurance, more with pre-existing conditions or any large event
> Your own medical care as you age: $0 — $LOTS
I get the feeling that the author purposefully picked one of the worst places to build wealth with "average" incomes (which so happens to be where he lives). While these are bad, these prices aren't average.
I live in the rust belt and might be making some very large (read: expensive!) life changes in the next year or two. There is no way it's going to this expensive.