Reply to dont be in the 60th to 99th percentile in income

Forum Index » College and University Discussion

Reply to "dont be in the 60th to 99th percentile in income"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][img]https://pbs.twimg.com/media/F1zLKAYWcAEwDiX.jpg[/img][/quote]
Although the graph is interesting people are treating it like it’s some nefarious plot. There are far more students in the 60-99% income range applying to college than below 60%. And for the top 1%, there’s not that many of them and they apply mainly to the legacy institution, so of course they have a higher rate.

Basic statistics people…[/quote]

I just looked it up and 15% of Harvards class is from the top 1%.

https://www.nytimes.com/interactive/projects/college-mobility/harvard-university[/quote]

That also says that 52% of Harvard students are between 80 and 99th %ile and 4.5% are between 0 and 20th.  But somehow DCUM's take away is that the people in the 80th %ile are disadvantaged over the poor people.  [/quote]

Always amazes me at the DCUM people complaining that they make $175K and how terrible it is that they can't afford college, when there are plenty of people living on $65-75K.  If college is important to you, then you can find a way to save.  If you were making $100K 10 years ago and now make $175K, then you could have been saving that extra amount each year and not let your lifestyle increase.  Instead you played keeping up with the Joneses. [/quote]

Or maybe they started finally saving for their retirement after paying for day care and their own student loans?[/quote]

Once again, life is all about choices.  If you choose to take $200K in student/parent loans for your own education, then you need a plan to pay them off before you have kids.  Or at least delay having kids by 3-4 years while you go gazelle intense on getting rid of debt---keep driving that college beater and living in a college style apartment and not taking vacations.  
You dont' just get to live the fancy adult life without a worry for your debt you took on.  Or if you choose to have kids before the debt is paid down, then you live in a smaller, less costly home that you can afford.  And by afford I mean continue to pay off the principal on your loans, pay all expenses/mortgage and still save for retirement.

I cannot fathom taking a trip to Hawaii or Jamaica if I was not saving for retirement or college at a decent level.  I would not own anything beyond a basic vehicle until I was able to do that saving either.  I got married and we paid off all our student loans and saved for our first house in a 5 year timeframe.  We bought a house we could afford with only 1 of our salaries, so we could still save the 2nd salary.  Worked towards saving for future cars so that we would need only a small loan or no loan---that meant driving them for 7-8 years and saving the monthly payments after the first 3 years and the car was paid off.    Then we waited 3 more years before having kids. 
Basically, you need to learn to define needs and wants in a truthful manner.  Then you do not get wants until you have fully funded all needs---and in my book retirement and college savings are needs, so we prioritize them over vacations and the like.

Fact is, if you were living on $100K 10 years ago, you can still be living on only $110K anything extra could be put towards savings---but most don't do that[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics