Poll: What would you prefer
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Mid level + Location independent
80.56%
29 80.56%
Schooling + High salary
16.67%
6 16.67%
Homelessness
2.78%
1 2.78%
Total 36 vote(s) 100%
* You voted for this item. [Show Results]

Mid level salary + Travel?
#1
Lots of threads about money and travel lately, so lets take a poll:


Guys,

Would you take a mid-level salary (40K or so) thats location independent

or 

~ half a decade of schooling followed by a six-figure salary in the West?

or

take a chance at building a business while living frugally, abroad or in the west


Opinions, why or why not?
Other options?
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#2
I completed a half decade of schooling before working my way up to a six-figure salary in the East.

A lot of the time in between involved living frugally while building a business, which is how I acquired the skills that led to better career opportunities.
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#3
(11-08-2020, 11:16 AM)Blake2 Wrote: Lots of threads about money and travel lately, so lets take a poll:


Guys,

Would you take a mid-level salary (40K or so) thats location independent

or 

~ half a decade of schooling followed by a six-figure salary in the West?

or

take a chance at building a business while living frugally, abroad or in the west


Opinions, why or why not?
Other options?

Pick the location-independent job. Live frugally in cheaper country while you build your business on the side.

Half a decade of schooling in the west + six-figure salary can turn into life in a hamster wheel very quickly. If you love your life in the west, then by all means go for it.
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#4
By half a decade of schooling I mean thats after a Bachelor's. (Phd/JD/MD/EdD/PsyD/etc)
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#5
As someone who did the second option not knowing the first existed, I voted for the first.

Time is more valuable than money.

Edit: Just remember to save and invest in both cases because that's how real wealth is built. Money gives you options.
If you haven't met anyone, I'll assume you're lying (h/t to Teedub from the old forum)
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#6
(11-08-2020, 04:02 PM)AirWaves Wrote: As someone who did the second option not knowing the first existed, I voted for the first.

Same here, except that I still voted for the second option. I think it's the better option, unless the schooling requires going into debt or one really wants to be a nomad. My own plan is to first gather some investments for safety and then create a working setup where I can spend 3-4 months per year abroad, either by finding a flexible employer or working as a contractor.

This has a couple of benefits, due to traveling being limited to only a couple months per year:
* time spent abroad will be in full holiday mood without financial worries
* travel destinations will keep their novelty
* less worry about visas
* keep one foot in the "easy mode" country with 1st world healthcare, salaries etc
* having a homebase in a western country is a DHV for impoverished 3rd world women
* avoid having to build a homebase in some unstable foreign land, or going full nomad and suffering the feeling of rootlessness

Disadvantages are the difficulty setting up such a flexible employment, and of course the fact that you need to spend most of the time in the west. For me this is bearable, compared to spending all year in the 3rd world with visa hassles, rainy season, xenophobia, rootlessness, noise, pollution etc. If I do find a paradise where none of this seems to bother, I can always pursue location independence later.
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#7
Education is broken, especially so in the USA. You'll be stuck with debt after studying for 5 years.
You'd be better off working part-time in Starbucks, invest some money, and learn a useful online skill for the rest of your free time.

40.000$/year is not mid-level outside USA and Canada - so yeah chose that.

The thing I want to say is just be very mindful of your budget.
40.000$/year income - living in Mexico on 15.000$/year = 25.000$ saved a year.

Invest that money in either yourself (digital agency / websites / learn to program) and the financial markets (stocks / ETF's) and you'll be better of in 10 years anyway and having so much more travel / life experience.

If you already have a degree, and are able to earn 6-figures fast in the USA, I would do that for a couple of years if you can save at least 30-40% of your salary.
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#8
Earn money as early as possible, set yourself up to the point at which you're comfortable then cash in and live a minimal lifestyle forever.
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#9
Oh.  Do we have polls here now?  

Why not

E) High Level Salary (or well-endowed Trust Fund) + Travel

Would that be too obvious for SWT economics? ; - )
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#10
I'd just like to point out this poll is skewed and reflects the target demographic of Swoop at a point in time.

The 1st option looks great for a single younger guy which is most of the people here.

If/When you want to start a family, the 2nd option starts looking a lot better.
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#11
(11-08-2020, 10:32 PM)Helikron Wrote: Why not

E) High Level Salary (or well-endowed Trust Fund) + Travel

Would that be too obvious for SWT economics? ; - )

Well, for the 5+ years you are doing a Phd/JD/MD/EdD/PsyD/etc 
you won't have time or money to travel. Yes,  you can travel after of course.

My buddy doing a PhD in compsci is in his room 24/7 as are other acquaintances doing terminal degrees.

It would be great if there were degrees you could do online, but only a handful of options there.
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#12
Neither, best option is to take a valuable job in a growing field in a big city. Work 3-4 years in it and you'll be able to do whatever you want, can stay for more $ or quit and travel wherever you want while working remotely.
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#13
(11-08-2020, 10:56 PM)TurkishCoffee Wrote: I'd just like to point out this poll is skewed and reflects the target demographic of Swoop at a point in time.

The 1st option looks great for a single younger guy which is most of the people here.

If/When you want to start a family, the 2nd option starts looking a lot better.

Assuming one had a wife that can work a decent job, thats another 40k. So altogether 80k+ starting out. Enough to raise a family. 

But here is an idea I like better

Join the air force at 17. Get a valuable technical MOS. During these 4 years, learn to code or some other skill that will allow you to make money online.

Live frugally. Save every penny. After 4 years at age 21 take a take some time to travel and work abroad. 

After 5 years of living the swoop lifestyle around Latin America, Europe, and Asia return back to the US. 

Use your GI bill and attend Uni for free. Do AirForce ROTC and graduate and become an officer. 

Enjoy a cushy well paying career (when you factor in benefits) and retire in 20 years at age 50. Make smart investments. 

Then enjoy the next 30 years in leisure with the fam and grandkids.
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#14
(11-08-2020, 04:00 PM)Blake2 Wrote: By half a decade of schooling I mean thats after a Bachelor's. (Phd/JD/MD/EdD/PsyD/etc)

What's the point of that? you can earn a six-figure salary without doing half a decade of school in addition to your bachelors. You probably won't earn that right out of the gate, but rather than earning nothing and running up debt for 5 years, you could be working instead, making money and get to six figures in about five years (which is totally achievable if you have what it takes to complete an MD or PhD).
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#15
(11-14-2020, 01:35 AM)Suits Wrote:
(11-08-2020, 04:00 PM)Blake2 Wrote: By half a decade of schooling I mean thats after a Bachelor's. (Phd/JD/MD/EdD/PsyD/etc)

What's the point of that? you can earn a six-figure salary without doing half a decade of school in addition to your bachelors. You probably won't earn that right out of the gate, but rather than earning nothing and running up debt for 5 years, you could be working instead, making money and get to six figures in about five years (which is totally achievable if you have what it takes to complete an MD or PhD).


I know someone who spent a decade in the corporate world and he still hasn't cracked six figures.  He's going back to grad school to get a Master's. Things are very competitive, although it certainly depends on the field.

On the other hand, it might be possible to set up a more modest income that would still be worth it and travel.

Although, if you really want to make money without so much school you could go into oil and gas, become an experienced welder. Definitely money to be made in some pretty remote places, off shore oil rigs, etc.
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#16
(11-14-2020, 03:21 PM)Blake2 Wrote:
(11-14-2020, 01:35 AM)Suits Wrote:
(11-08-2020, 04:00 PM)Blake2 Wrote: By half a decade of schooling I mean thats after a Bachelor's. (Phd/JD/MD/EdD/PsyD/etc)

What's the point of that? you can earn a six-figure salary without doing half a decade of school in addition to your bachelors. You probably won't earn that right out of the gate, but rather than earning nothing and running up debt for 5 years, you could be working instead, making money and get to six figures in about five years (which is totally achievable if you have what it takes to complete an MD or PhD).


I know someone who spent a decade in the corporate world and he still hasn't cracked six figures.  He's going back to grad school to get a Master's. Things are very competitive, although it certainly depends on the field.

On the other hand,  it might be possible to set up a more modest income that would still be worth it and travel.

Although,  if you really want to make money without so much school you could go into oil and gas,  become an experienced welder.  Definitely money to be made in some pretty remote places,  off shore oil rigs,  etc.

Having an MA or PhD doesn't guarantee six figures. In fact, the average person with advanced degrees doesn't earn six figures.

https://smartschoolsusa.org/blog/the-ave...-2019-2020 (Bureau of Labor Statistics)

Doctorate: $90,636
Masters: $72,852
Bachelors: $60,996

Not cracking six figures is perfectly normal.
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#17
Agreed, it's not uncommon. But, if trying to live in the West, making 6 figures would definitely be the goal. With the opportunity to travel, not making so much money is worth it.
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#18
As long as you're not being a company man you should be able to advance in income pretty fast.

I know a handful of people who started out at a large company when they graduated and are still there. Maybe at first there was good advancement from the absolute bottom to a rung or two up the ladder. After that, some mid level manager is promising them X thing at Y time just to keep them on the hook. Y time seems to be perpetually delayed and never comes, but you stay on the hook and think you're making a sacrifice for the future.

Personally, I don't like putting all my hopes on something that might be happening two or three years from now.

Unless you're in a field like engineering/medicine or such, the best route to six figures is to aggressively pursue salary increases early on in your career. Job hopping looks bad later on but you can weather it when you're starting out, and in my opinion it doesn't count as a negative if you've got forward motion. Doing this while working at growing organisations can be a huge accelerator, the growth of your employer can trickle down to you if you play your cards right.
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