Hello everyon I'm YoungAndWise and I need help with my plan for ERE by thirty-five. Know instead of just typing it all out I'll just show you an outline.
GOALS
Now to End of High School-
*Try to do dual credit enrollement, which is basically doing a class for college and high school credit.
*Build a nice profile of community service and have some good grads.
*Save at least five thousand dollars in my bank account and one thousand dollars invested with 50%/50% ration of safe dividend stock and riskier stock that can make stock.
*Taking Accounting classes offered by high school.
COLLEGE
*Do good obviously.
*Try to get associates degree in accounting at local community college if they still have it.
*MAYBE go to someplace like UT to get bachelors if it is worth my time.
*Save 90% of my money I make/ receive.
POST-COLLEGE(Fun part)
*Go somewhere where pay is high and is cultural diverse(have been living in the same place for fifteen years know and it not really that diverse, trust me)
*Look at 21 Day plan! But I'll probably still have trike.
*Rent more
*Work hard for five years, while getting some cliental on the side, and go freelance accounting (and maybe bookeeping since they complemint each other).
*Do that 'till I'm thirty five and well after that...well who knows!
*Also I will save and invest 90% of my retirement funds into high dividend stocks with the other 10% on savings account.
So any ideas? Suggestions? Critizim? (Yes I know I mispelled it but I don't fell like opening Word) Also how had is accounting math because next year I can either do Algebra three or Pre-Cal so I want to do the class that is most benefical to me.
Need Opinions on Plan
For high school and college, consider following the Study Hacks blog and his two books (high school, college). I really, really wish I had known and followed these ideas. For one, do all your community service in one place, and gain some standing there. Depth is more rewarding than breadth. Get deeply involved. Imagine volunteering for an organization, getting to know everyone, starting and running your own program in that organization, and getting on the board as a community member. Something like that.
I have mixed feelings about earning money during high school and college. I'd say learn about money, business, and entrepreneurship, but don't necessarily earn a lot. There are lots of opportunities that are easy to come by in that stage that are harder to come by later, and spending time working means not spending time with those opportunities. College summer jobs can be great because you can learn while you earn and they can get you opportunities. You will probably earn at a much higher rate when you get out of college.
Many culturally diverse places have higher expenses, especially the ones with higher pay, so be careful which one you choose. I think all communities have some diversity, especially urban ones. You just have to go find it. You can find it in any university town.
This is a good basic plan. Expect to deviate from it based on future opportunities. Freelance accounting could continue forever in diminishing amounts, just like Jacob still does some work for pay. Owning and renting out to roommates could be cheaper than just renting. When you move, you could decide between selling and playing landlord.
Algebra 3 syllabi vary greatly. When I took it, there was trig, discrete math, and basic linear algebra (but they didn't give it that name). Find out what's on the syllabus and choose the one that looks more interesting. Discrete math is usually fun. Both courses will help build your math base for accounting. I consider pre-cal to be on the main high-school and college math progression and algebra 3 to be more of a side course.
I have mixed feelings about earning money during high school and college. I'd say learn about money, business, and entrepreneurship, but don't necessarily earn a lot. There are lots of opportunities that are easy to come by in that stage that are harder to come by later, and spending time working means not spending time with those opportunities. College summer jobs can be great because you can learn while you earn and they can get you opportunities. You will probably earn at a much higher rate when you get out of college.
Many culturally diverse places have higher expenses, especially the ones with higher pay, so be careful which one you choose. I think all communities have some diversity, especially urban ones. You just have to go find it. You can find it in any university town.
This is a good basic plan. Expect to deviate from it based on future opportunities. Freelance accounting could continue forever in diminishing amounts, just like Jacob still does some work for pay. Owning and renting out to roommates could be cheaper than just renting. When you move, you could decide between selling and playing landlord.
Algebra 3 syllabi vary greatly. When I took it, there was trig, discrete math, and basic linear algebra (but they didn't give it that name). Find out what's on the syllabus and choose the one that looks more interesting. Discrete math is usually fun. Both courses will help build your math base for accounting. I consider pre-cal to be on the main high-school and college math progression and algebra 3 to be more of a side course.
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AlexOliver
- Posts: 461
- Joined: Tue Aug 03, 2010 7:25 pm
Something I wish I would have done at the beginning of my accounting career is stay in touch with everyone I met and get used to meeting people and figuring out if they could use my services. I've only started that the past few years and feel like I could already be on my own if I'd started sooner. Unfortunately, I thought good work would speak for itself, but like with the ERE book, some marketing is required.
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Frugal Vegan Mom
- Posts: 31
- Joined: Mon Aug 09, 2010 10:24 pm
- Contact:
Advice from a 28 year old who took on loads of college debt, got a "good degree" and hates her job?
-Don't get into debt, it's like slavery, just that you're on this blog and have the mindset is an excellent start.
-Do something that makes you happy, life's too short.
-Agreeing with Kevin M., keep your contacts, being smart can get you so far, but life is really about relationships and who you know.
-Even though being smart only gets you so far, USE SPELLCHECK if you need it. Judgemental people like me would dismiss you for errors like the ones above in a professional setting.
-Probably doesn't matter what h.s. math courses you take. I was an engineering major and barely remember any math. I did take basic accounting in college though and thought it was super easy (but the professor repeatedly said nothing taught in the class is actually used in real life!)
-Don't get into debt, it's like slavery, just that you're on this blog and have the mindset is an excellent start.
-Do something that makes you happy, life's too short.
-Agreeing with Kevin M., keep your contacts, being smart can get you so far, but life is really about relationships and who you know.
-Even though being smart only gets you so far, USE SPELLCHECK if you need it. Judgemental people like me would dismiss you for errors like the ones above in a professional setting.
-Probably doesn't matter what h.s. math courses you take. I was an engineering major and barely remember any math. I did take basic accounting in college though and thought it was super easy (but the professor repeatedly said nothing taught in the class is actually used in real life!)
Good for you for starting these thoughts so early!
The people I've seen become "successful without trying" either:
1) Follow a path to something that they are almost insanely passionate about.
2) Follow a path where the accomplishments are incredibly easy to them but hard for others (they constantly stay well above the Peter principle).
The people I've seen become "successful without trying" either:
1) Follow a path to something that they are almost insanely passionate about.
2) Follow a path where the accomplishments are incredibly easy to them but hard for others (they constantly stay well above the Peter principle).
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AlexOliver
- Posts: 461
- Joined: Tue Aug 03, 2010 7:25 pm
The overall contours of your plan look excellent, but I would question the goal of $1000 in a stock portfolio. With a portfolio of individual stocks of that size you will get eaten alive on transaction costs. E.g. to buy 20 stocks at $7/trade costs $140, which is 14% of $1000, which is horrendous. To invest efficiently you need to be able to put several thousand dollars in each position. Until then I'd just stockpile cash.
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TheWanderingScholar
- Posts: 650
- Joined: Thu Dec 30, 2010 12:04 am
@AlexOliver: Okay can you please tell my what AA means?
@Frugal Vegan Mom and teewonk: Mmmmm.....I might go with algerba 3 since I heard it is dual credit,but I'll double check. also teewonk going to look at the blog.
@KevinW: Okay so several thousand dollars worth of stock instead of just one thousand and stay connected. Gotcha.
Thanks for the replies. Also I'm pretty sure this school year I'm going to work elementary high school mentoring program! Perfect!
Also AlexOliver, I might go to University of Texas or University of Houston if it is worth my while to get a higher degree in accounting and finance. If not I'll just go a local Community college that has acccounting....well I think it does.
@Frugal Vegan Mom and teewonk: Mmmmm.....I might go with algerba 3 since I heard it is dual credit,but I'll double check. also teewonk going to look at the blog.
@KevinW: Okay so several thousand dollars worth of stock instead of just one thousand and stay connected. Gotcha.
Thanks for the replies. Also I'm pretty sure this school year I'm going to work elementary high school mentoring program! Perfect!
Also AlexOliver, I might go to University of Texas or University of Houston if it is worth my while to get a higher degree in accounting and finance. If not I'll just go a local Community college that has acccounting....well I think it does.
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AlexOliver
- Posts: 461
- Joined: Tue Aug 03, 2010 7:25 pm
Associate of Arts. The two year degree. Bachelor of arts is the four year degree.
Are your parents going to pay for your tuition and room and board?
When I was your age (lol) I thought I'd go to the University of Washington (the big school here, similar to UT), everything would work itself out... since I refuse to go into debt, that's not happening.
Are your parents going to pay for your tuition and room and board?
When I was your age (lol) I thought I'd go to the University of Washington (the big school here, similar to UT), everything would work itself out... since I refuse to go into debt, that's not happening.
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TheWanderingScholar
- Posts: 650
- Joined: Thu Dec 30, 2010 12:04 am
@yogi: I'm working on my writing right now. I have been writing and thinking about being an author since I was in sixth grade. Also yogi I haven't but I guess you mean that being an accountant is being a slave to a computer well I'm willing to do that for five to ten years and not have to worrying if my next book will pay the bills for the rest of my life but instead write at my own pace, in my own genre and setting not the one that sells the most, and be fine if the book doesn't sell a lot.
also AlexOliver I will more than likely go Associates of Arts. And my parents will try to help me as much as possible I'm leaning on going to a local community college. Besides I like smaller classes.
also AlexOliver I will more than likely go Associates of Arts. And my parents will try to help me as much as possible I'm leaning on going to a local community college. Besides I like smaller classes.
@YoungAndWise:
1.) It's amazing that you're planning stuff at such a young age. IMO you will be very successful.
2.) Don't pay too much for college. Get a job as an intern as soon as possible. Many companies have tuition reimbursement programs.
3.) Go to a community college. They are cheaper in terms of both time and money, and the classes are usually more flexible because they almost expect that everyone is working while going to school.
4.) Definitely definitely definitely do the dual credit enrollment. I spent two years in high school taking college classes for dual credit. The classes were paid for by the state, I met a lot of cool college kids, and I got a jump start on my college education. I'm so glad that I did this. High school is pretty boring compared to college. You won't regret it.
5.) Grades aren't as important as the teachers in high school make you believe. I could have gotten into any college (and I do mean any) just based off of my ACT and SAT test results. I've never once had a client or employer ask me what grades I made in college, let alone high school. When I was your age I thought grades were everything. Looking back I think relationships are far more important, IMO. Once you're in the real world no one cares about what grades you made in High School.
1.) It's amazing that you're planning stuff at such a young age. IMO you will be very successful.
2.) Don't pay too much for college. Get a job as an intern as soon as possible. Many companies have tuition reimbursement programs.
3.) Go to a community college. They are cheaper in terms of both time and money, and the classes are usually more flexible because they almost expect that everyone is working while going to school.
4.) Definitely definitely definitely do the dual credit enrollment. I spent two years in high school taking college classes for dual credit. The classes were paid for by the state, I met a lot of cool college kids, and I got a jump start on my college education. I'm so glad that I did this. High school is pretty boring compared to college. You won't regret it.
5.) Grades aren't as important as the teachers in high school make you believe. I could have gotten into any college (and I do mean any) just based off of my ACT and SAT test results. I've never once had a client or employer ask me what grades I made in college, let alone high school. When I was your age I thought grades were everything. Looking back I think relationships are far more important, IMO. Once you're in the real world no one cares about what grades you made in High School.
@YoungAndWise
Wow, you really do think far ahead into the future for someone so young. When I was 15, the only thing I was worried about was trying to earn and save money so I could buy an old beat up car when I turned 16
Also, you've referenced a trike a couple of times. What exactly do you mean by that? And do you happen to be bilingual?
Wow, you really do think far ahead into the future for someone so young. When I was 15, the only thing I was worried about was trying to earn and save money so I could buy an old beat up car when I turned 16
Also, you've referenced a trike a couple of times. What exactly do you mean by that? And do you happen to be bilingual?
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starshard0
- Posts: 45
- Joined: Tue Aug 31, 2010 1:29 pm
- Contact:
I would definitely recommend all the advice being offered. When I got out of high school (after working for 2 1/2 years at McD's), I moved into an apartment with my gf and ended up blowing through all my money within two months. I joined the Army, and 3 years later I'm still paying for the financial mistakes I made back then (and by that I mean I'm still in the Army and miserable). Luckily I got my AA since I attended language school + I had some AP courses from HS.
Now I'm working towards ER by 35 at the latest, and I'll probably reach it sooner if I keep following the principals of ERE.
Definitely take advantage of all the opportunities afforded you while you're still young and in high school, and make sure that you're moving in a direction that leads you to your passion(s).
Now I'm working towards ER by 35 at the latest, and I'll probably reach it sooner if I keep following the principals of ERE.
Definitely take advantage of all the opportunities afforded you while you're still young and in high school, and make sure that you're moving in a direction that leads you to your passion(s).
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TheWanderingScholar
- Posts: 650
- Joined: Thu Dec 30, 2010 12:04 am
@yogi:Thanks. Also when I talk about the motor trike I'm talking about a motor trike that is large enough that I can have a suitcase on the back which should fit all my belongings, which means I can move wherever I want to at a moments notice. And no I'm not bilingual which sucks because I know I can make more money than usual if I was but I really don't feel like. And also both my spanish one and two classes kinda..well...sucked. Didn't learn anything. Also I know my mom will gripe at me because I will more than likely make a B in that class.
@YoungAndWise
Thanks for answering the questions, well here are some opinions:
1.) Find a couple people who are doing what you think you want to do (Accounting), and a talk to them. You'll get a better picture of what being an Accountant is like than just your imagination. Believe me, most would be more than happy to talk about their professions. "Old people" love to share their knowledge with sincere young people. It will make them feel good. In person, would be best. Phone would be second best. Email and forums would be last.
2.) Don't completely close the door on writing for a career yet. There are still people who getting paid to write for a living at newspapers, magazines, TV Networks (for shows), and even corporations. You can still pursue ERE while doing these other professions too. You could even try emailing your favorite authors to see if they'd take a call. If they’re not too busy, I'm sure they'd get a kick out of giving advice to a young fan who wanted to be like them.
3.) If not pursuing writing in your career, keep at it in your spare time.
4.) And whether in school, or outside of it, take some writing classes. Make sure the classes cover grammar etc.
5.) Also, I'm not sure what about writing you like. But maybe look at similar things that could give you the same "fix". TV, Movie making etc.
By the way, I’ve never really had a passion. So I’m kind of jealous of you. I would hate to see you lose it.
Anyway, just some ideas...
Thanks for answering the questions, well here are some opinions:
1.) Find a couple people who are doing what you think you want to do (Accounting), and a talk to them. You'll get a better picture of what being an Accountant is like than just your imagination. Believe me, most would be more than happy to talk about their professions. "Old people" love to share their knowledge with sincere young people. It will make them feel good. In person, would be best. Phone would be second best. Email and forums would be last.
2.) Don't completely close the door on writing for a career yet. There are still people who getting paid to write for a living at newspapers, magazines, TV Networks (for shows), and even corporations. You can still pursue ERE while doing these other professions too. You could even try emailing your favorite authors to see if they'd take a call. If they’re not too busy, I'm sure they'd get a kick out of giving advice to a young fan who wanted to be like them.
3.) If not pursuing writing in your career, keep at it in your spare time.
4.) And whether in school, or outside of it, take some writing classes. Make sure the classes cover grammar etc.
5.) Also, I'm not sure what about writing you like. But maybe look at similar things that could give you the same "fix". TV, Movie making etc.
By the way, I’ve never really had a passion. So I’m kind of jealous of you. I would hate to see you lose it.
Anyway, just some ideas...