FelipeA
Dryer sheet aficionado
Hi,
I live in the bay area in California with my parents, a 22 year old student/worker/investor finishing community college to transfer to a state 4 year for Environmental Engineering. I'm conflicted about which school to attend, gathering lots of perspective from people in different schools.
I did my first cost analysis of my 8 school choices, includes health insurance for better prices than I've been about to find outside. I have till the end of April to make my choice- top 2 in mind now are 1) living at home, going to SJSU or 2)UCI I'd either find an RV/ sustainable community for 250/month or move in with my lover whose not too far. I got 2.5 years once I transfer.
My rough cost analysis for 2.5 years of upper-division for my 8 B.S. choices
SJSU: 10K x 2.5 =25k
SFSU: (10K +2k transportation/commute, parking..) x 2.5= 30k
HSU/SDSU/CalPoly: (10k+ 5k (Rent/utilities, Food..extra exps moved out)) 2.5= 37.5k
UCSD/I (15k + 5k)2.5= 50k
It really depends on how much financial aid I get, but excluding the aid, SJSU has the best price due to proximity to the house, good internships in the area, but I don't like the school. I heard the engineering there is okay, and I know people who went there who work in the field now but none of them loved the school, just a place they went to to get to the next step (though UCSD has the same feel). I loved UCI's campus and they have good engineering program, but it's very expensive to move out and to go to a UC, unless I get lots of aid (grants not loans) (10k aid/yr to equal SJSU price.) I'm thinking to go to SJSU unless I get 10k free grants for UCI. But this is something I’d appreciate wisdom on. Env’t Engrs make 80-100k mean average in my area so I’m thinking I can save 60k/yr to invest being minimalist.
I currently earn about 35k (1400-1500/2 weeks work) per year after taxes as an assistant manager and began investing late last year, but I'd been saving for a while. Excluding car bought cash (2011 Chevy Volt I bought last year now worth around 15k), my networth is about 25k bank checking/savings+20k Stocks. I'll keep working as I finish my degree and look to save& invest at least 80%, I can get this up to 90%, if I pick the local school and go hardcore minimalist with some decent financial aid. Also, the local schools offer only Civil & Environmental Engineering as a major so that'd be my degree instead of a strict Environmental Engineering-which might make passing the licensure exam easier as the exam is only for Civil & Env't in California and open more options.
I began tracking my expenses last year in April:
Apr-14 $444.09
May-14 $1,078.05
Jun-14 $1,067.46
Jul-14 $1,402.89
Aug-14 $2,389.80
Sep-14 $830.45
Oct-14 $1,735.28
Nov-14 $1,184.96
Dec-14 $1,471.55
Jan-15 $92.48
So Savings Rate has been highly variable but I’m committed to making it consistently 80% or more.
This month I've spent under $120 so far and will be at under $200 by the end of the month if I stay on track since I'm going to a 10-day free meditation. I'm considering selling my car (though it's partially electric and a lot less than my old acr) but the bike ride to school is about an hour each way, 7 times a week (5 mornings, 2 nights).
I'm already pretty light on possessions and have gotten rid of my most expensive hobbies. Parents cover food from Costco if I tell them ahead of time and don't charge rent, plus they're super chill so I'm okay staying at home to reach FI that much sooner. Cell phone is covered by employment, no health insurance yet.
My current (possibly overly ambitious) goals based on earning 35k/year and investing 80% minimum are:
By January 2016, investment income earning 3k/year and successfully transferred into upper-division.
By January 2018, investment income earning 12k/yr and have Env't Engr degree, working full time (32-40hours/wk) earning 60k/yr after taxes, ready to build tinyhouse.
After: Build my self-sustainable (Solar, rain water catching, water recycling) tiny house and live on under 500/month, spend my days reading, investing, cooking, gardening, volunteering, toastmasters, laying in bed and exploring nature with my lover, and building a sustainable business.
Assuming I get 5k financial aid per year and go to SJSU:
If I count 15% cash dividends with no capital gains compounded once annually:
40k x 1.15=46k this year+30k saving=76k at end 2015.
76k x 1.15=87.4k+30k=117.4k end 2016.
117.4k x 1.15=135k+30k=165k end 2017.
165k x 1.15=189.75k +60k=250k End 2018.
At 15% of 250k I'd be receiving 37.5k in cash dividends, enough to invest 50-75% back in, not work and dedicate full time to learning and building a sustainable business.
If I don't count any compounding gains/dividends outside of countering inflation I would reach FIRE before 29. Current 22 years old with 40k+3 years school x 30k savings/yr+3 years x 60k savings/yr=310k in 6 years. That's not counting if I pass the PE exam and save more as a result the last year.
What are your thoughts on my school path so I can reach FI sooner? I don’t think a better name will get me a much larger salary.
I live in the bay area in California with my parents, a 22 year old student/worker/investor finishing community college to transfer to a state 4 year for Environmental Engineering. I'm conflicted about which school to attend, gathering lots of perspective from people in different schools.
I did my first cost analysis of my 8 school choices, includes health insurance for better prices than I've been about to find outside. I have till the end of April to make my choice- top 2 in mind now are 1) living at home, going to SJSU or 2)UCI I'd either find an RV/ sustainable community for 250/month or move in with my lover whose not too far. I got 2.5 years once I transfer.
My rough cost analysis for 2.5 years of upper-division for my 8 B.S. choices
SJSU: 10K x 2.5 =25k
SFSU: (10K +2k transportation/commute, parking..) x 2.5= 30k
HSU/SDSU/CalPoly: (10k+ 5k (Rent/utilities, Food..extra exps moved out)) 2.5= 37.5k
UCSD/I (15k + 5k)2.5= 50k
It really depends on how much financial aid I get, but excluding the aid, SJSU has the best price due to proximity to the house, good internships in the area, but I don't like the school. I heard the engineering there is okay, and I know people who went there who work in the field now but none of them loved the school, just a place they went to to get to the next step (though UCSD has the same feel). I loved UCI's campus and they have good engineering program, but it's very expensive to move out and to go to a UC, unless I get lots of aid (grants not loans) (10k aid/yr to equal SJSU price.) I'm thinking to go to SJSU unless I get 10k free grants for UCI. But this is something I’d appreciate wisdom on. Env’t Engrs make 80-100k mean average in my area so I’m thinking I can save 60k/yr to invest being minimalist.
I currently earn about 35k (1400-1500/2 weeks work) per year after taxes as an assistant manager and began investing late last year, but I'd been saving for a while. Excluding car bought cash (2011 Chevy Volt I bought last year now worth around 15k), my networth is about 25k bank checking/savings+20k Stocks. I'll keep working as I finish my degree and look to save& invest at least 80%, I can get this up to 90%, if I pick the local school and go hardcore minimalist with some decent financial aid. Also, the local schools offer only Civil & Environmental Engineering as a major so that'd be my degree instead of a strict Environmental Engineering-which might make passing the licensure exam easier as the exam is only for Civil & Env't in California and open more options.
I began tracking my expenses last year in April:
Apr-14 $444.09
May-14 $1,078.05
Jun-14 $1,067.46
Jul-14 $1,402.89
Aug-14 $2,389.80
Sep-14 $830.45
Oct-14 $1,735.28
Nov-14 $1,184.96
Dec-14 $1,471.55
Jan-15 $92.48
So Savings Rate has been highly variable but I’m committed to making it consistently 80% or more.
This month I've spent under $120 so far and will be at under $200 by the end of the month if I stay on track since I'm going to a 10-day free meditation. I'm considering selling my car (though it's partially electric and a lot less than my old acr) but the bike ride to school is about an hour each way, 7 times a week (5 mornings, 2 nights).
I'm already pretty light on possessions and have gotten rid of my most expensive hobbies. Parents cover food from Costco if I tell them ahead of time and don't charge rent, plus they're super chill so I'm okay staying at home to reach FI that much sooner. Cell phone is covered by employment, no health insurance yet.
My current (possibly overly ambitious) goals based on earning 35k/year and investing 80% minimum are:
By January 2016, investment income earning 3k/year and successfully transferred into upper-division.
By January 2018, investment income earning 12k/yr and have Env't Engr degree, working full time (32-40hours/wk) earning 60k/yr after taxes, ready to build tinyhouse.
After: Build my self-sustainable (Solar, rain water catching, water recycling) tiny house and live on under 500/month, spend my days reading, investing, cooking, gardening, volunteering, toastmasters, laying in bed and exploring nature with my lover, and building a sustainable business.
Assuming I get 5k financial aid per year and go to SJSU:
If I count 15% cash dividends with no capital gains compounded once annually:
40k x 1.15=46k this year+30k saving=76k at end 2015.
76k x 1.15=87.4k+30k=117.4k end 2016.
117.4k x 1.15=135k+30k=165k end 2017.
165k x 1.15=189.75k +60k=250k End 2018.
At 15% of 250k I'd be receiving 37.5k in cash dividends, enough to invest 50-75% back in, not work and dedicate full time to learning and building a sustainable business.
If I don't count any compounding gains/dividends outside of countering inflation I would reach FIRE before 29. Current 22 years old with 40k+3 years school x 30k savings/yr+3 years x 60k savings/yr=310k in 6 years. That's not counting if I pass the PE exam and save more as a result the last year.
What are your thoughts on my school path so I can reach FI sooner? I don’t think a better name will get me a much larger salary.