Re:Everyone is totally just winging it, all the time (2014)
by eigenvector on Sunday November 25, 2018 @08:34PM
(#18530345)
I often read and post on a personal finance forum. I'm always surprised by how many posts go something like this:
"Just finished university, $100k to invest, what should I do?"
Wait, how does someone who just finished university have $100,000 in the bank? That's a milestone I proudly hit after several years in the workforce with a good job and living very frugally.
Of course, it's people whose parents paid 100% of their expenses (tuition and living) through university, so every penny they earned from internships, co-ops or scholarships went straight into the bank.
Now ask yourself how much easier it is to start a risky company when the first thing greeting you after finishing school is a 6-figure bank balance not $1000+/month of loan repayments.
"Just finished university, $100k to invest, what should I do?"
Wait, how does someone who just finished university have $100,000 in the bank? That's a milestone I proudly hit after several years in the workforce with a good job and living very frugally.
Of course, it's people whose parents paid 100% of their expenses (tuition and living) through university, so every penny they earned from internships, co-ops or scholarships went straight into the bank.
Now ask yourself how much easier it is to start a risky company when the first thing greeting you after finishing school is a 6-figure bank balance not $1000+/month of loan repayments.