Quote:
Originally posted by yys
"The average lifetime earnings of a male high school graduate is about $1.1 million. Add a bachelor's degree and average lifetime earnings increase to almost $2 million. Add a professional degree and average lifetime earnings shoot up to approximately $4 million." Penn State President Graham Spanier
If you've got $4 million in the bank by age 30 & up and can't live off it for the rest of your life you have some serious problems with managing your money.
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Like I said, if you like living on Burger King wages as is. By the way, I'm 23. And there are very very few people that would conserve money like they are forced to do so at a job instead of receiving it in one lump sum.
Take your highest example for instance. 4 million. If I started from high school and made that in my lifetime my expenses would grow with my earnings. Now, give me 4 million at once. If I buy a bigger house that comes with more property taxes, maintenence and so forth 10 or 15 years earlier than the average person with a professional degree that's 10 or 15 extra years of expenses. Same goes for vehicles, vacations, etc. Nothing to do with managing my money wrong. What if I live 5 years longer than the average person and I only budgeted for the normal lifespan? Too many things come into play when you get your money in a lump sum. Thus, so many riches to rags stories that you hear about all the time.
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