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What to do with MY $100,000 dollars? (inherited)

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Josiah
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Thanks to you and Sensation, I appreciate the advice. I am currently taking an online course at a Junior College but would like to join a reputable University, what is the best way to enter one? I am looking to join a University with Air Force ROTC as I plan to join when I am an accredited pilot and I hear there are ways to join after getting your pilots license and going through AFROTC and that would guarantee you a pilot's field. How could I get into a decent University with mediocre High School grades (I never took it seriously but today is a completely different story). My senior year I got A's and B's and 3.3+ gpa but Freshman and Sophomore years I was getting 1.9's, etc. I hope I can make up for that in Junior College.

I am willing to lose up to 15k but after that I'd be pretty upset.
Post Sun Sep 25, 2005 2:47 am
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tss4
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quote:
Originally posted by Rolo
quote:
Originally posted by tss4
...getting a good degree in a profitable feild (engineering, medicine, etc.)


Getting a degree in what you like to do or are passionate about is what's important.

I am an engineer because I like it.
...and I don't have to deal with the customers. Smile


lol, my point was that getting a degree is a good move for your future, BUT one should take into account your earnings potential when making that decision. Going to an ivy league to major in history isn't such a great deal. If you plan to become a lawyer, however, then going to any ivy league can be a great move. That was my point.
Post Mon Sep 26, 2005 11:17 am
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auggyf
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tss - I respectfully disagree.

Studying history at an ivy-league school may be one of the best places to study history! If that is a subject that you love, and you don't mind not being wealthy as long as you are an expert in history, that is fine.

As for paying for school ... most if not all of the top universities are need-blind when it comes to admissions. These universities have enough money that they want to accept the best students to their school -- and not to turn someone down because of their financial limitations. So these schools have scholarship programs that genuinely want to help students in need pay for school, plus the fed. gov't has large programs that can get you grants or below-market loans.

If you're still worried about it, there are also some public schools which are on the same level academic-wise as the Ivys, but at about half the price.

The hard part, though, is getting into these schools...
Post Mon Sep 26, 2005 2:40 pm
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tss4
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quote:
Originally posted by auggyf
tss - I respectfully disagree.

Studying history at an ivy-league school may be one of the best places to study history! If that is a subject that you love, and you don't mind not being wealthy as long as you are an expert in history, that is fine.

As for paying for school ... most if not all of the top universities are need-blind when it comes to admissions. These universities have enough money that they want to accept the best students to their school -- and not to turn someone down because of their financial limitations. So these schools have scholarship programs that genuinely want to help students in need pay for school, plus the fed. gov't has large programs that can get you grants or below-market loans.

If you're still worried about it, there are also some public schools which are on the same level academic-wise as the Ivys, but at about half the price.

The hard part, though, is getting into these schools...


If you want to go to any ivy league school then by all means do. I went to one and loved it. My point was merely that if you look at it as a return on your investment (and the post I responded to was doing just that), then certain professions provide more of a return than other professions do when going to more expensive schools. My problem was with the initial reply that mentioned getting an education and stated that many occupations were paying more than a 100k starting out. That's the exception, not the rule. If you want to make that type of money with your degree then you have to consider what your getting a degree in. Its naive to think otherwise.

During the course of my education I've attended several universities, I recived a BS from an ivy league, a master's of science in Electrical Engineering at a different private university and now I'm working on my PhD at a state school. I can say with certainty that the quality of education at the different institutions was remarkably similar. What the ivy league offered that the others have not, is the networking and national recognition in the job market. Sometimes that's worth the extra money. Sometimes, you dream of obtaining an ivy league education for personal resaons and acheivement and that's good a reason to attend too. But no one should feel like they can't get a top grade education at a more reasonable price.

As for financial aid. If he has a 100k in the bank, then they will charge most if not all of that 100k before he gets any grant aid. So while, someone with need will get a much better deal, he will most likely not. So, I don't really see how financial aid is relevant to the case at hand.
Post Mon Sep 26, 2005 3:01 pm
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Rolo
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I think both of you guys make valid points. The only thing I don't really go along with is:

quote:
Originally posted by auggyf
...and you don't mind not being wealthy as long as you are an expert in history, that is fine.


...because crappy engineers with history degrees still make more than decent engineers who never finished their degree!

"Expect me when you see me."
Post Tue Sep 27, 2005 12:16 am
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TernerPt
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for getting to know all the rules and exceptions of the passive voice using, follow http://royalediting.com/usage-tips-of-passive-voice
Post Mon Jan 16, 2017 1:41 pm
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oldguy
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It would be fun to hear what Josiah decided to do 12 years ago, he was 18 when he posted, must be 30 or 31 now. If he put his $112,000 inheritance in the SP500 Index, he now has $265,000.

Or, if he used the money to buy a Jeep rock-crawler and joined a SoCal 4WD Club, he now has a worn-out Jeep that has $35k worth of special hubs, gearing, axles, long-stroke suspension/shocks,

Or, if he got a either a Mech Engineering or an Aero Engineering Degree (and a Pilots Lic), he is now earning $135,000/yr, as well as using his investing skills (from his $100,000 days) to grow some large steady growth accounts - and well on his way to become a young millionaire.

Josiah - if you're still around - an update would be fun. Very Happy
Post Mon Jan 16, 2017 4:33 pm
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