high income, not rich yet

The Graduate Investor

The Graduate Investor

high income, not rich yet

Recent Posts

How To Automate Your Finances

How To Automate Your Finances

Today’s post is a follow-up to Monday’s post on the easiest way to get rich.  Automating your finances will both make it easier to manage your money on a daily basis AND put you on your way to building real wealth.  But where, exactly, do […]

My First Post!

My First Post!

Hello! Welcome to the Graduate Investor.  This blog is just getting off the ground, but I hope that it will soon be a useful resource for graduates who want to take control of their finances. Like many of my peers, I graduated with both a […]

The Bare Minimum For Financial Stability

The Bare Minimum For Financial Stability

Today’s post is about the bare minimum steps to take for financial stability.  I find that my friends are typically divided into two camps: those that get a kick out of personal finance, and those that prefer to not think about anything related to money […]

3 Secrets to Refinancing Graduate School Loans

3 Secrets to Refinancing Graduate School Loans

Early this week I posted about why I chose to refinance my  $190,000 in student loans. Disclaimer: Deciding to refinance your student loans is a personal choice and your best option if you’re unsure what to do is seek out advice from a flat fee […]

Why I Refinanced My Student Loans 5 Times in 4 Years

Why I Refinanced My Student Loans 5 Times in 4 Years

This week I’m talking about student loan refinancing.  Student loan refinance is a hot topic and for good reason. Numerous millennials graduating between 2009-2015 faced rates of 6.8-7.9% interest on six-figure student loan debts. Loan interest rates have since slowly dropped, but at between 5.29-6.4%, federal […]

The Easiest Way to Get Rich

The Easiest Way to Get Rich

Several years ago I read I Will Teach You To Be Rich.  A key takeaway is that the easiest way to get rich is to automate your finances.  This means setting up your paycheck so that it automatically goes into retirement savings, short-term savings, an […]

Using the Debt Snowball to Tackle Massive Debt

Using the Debt Snowball to Tackle Massive Debt

“Do you know what a debt snowball is?”  I asked Mr. Graduate Investor last night as we were cooking in the kitchen.  Mr. Graduate Investor was haphazardly browning chicken sausage while I prepped the rest of the ingredients for dinner. “Sure. It’s when you buy […]

How To Become a Millionaire By Age 40

How To Become a Millionaire By Age 40

Growing up I was raised in a working-class family in Appalachian Kentucky.  My parents were both the first high school and college graduates in my family.  We weren’t quite dirt poor (though some of my relatives were), but we didn’t have a lot of money to […]

Five Tips To Save An Emergency Fund

Five Tips To Save An Emergency Fund

An emergency fund is the first step in building financial wealth and independence. A few months ago I was pulling out of my office building when the tire on my Subaru grazed the sidewalk – Pop!  Within a few minutes, my tire was flat and […]


New To the Graduate Investor?

My First Post!

My First Post!

Hello! Welcome to the Graduate Investor.  This blog is just getting off the ground, but I hope that it will soon be a useful resource for graduates who want to take control of their finances. Like many of my peers, I graduated with both a doctorate degree and nearly $200,000 in debt at a blended 7.4% interest rate – insanity! Traditional financial advice targeted at previous generations with little student loan debt wasn’t going to cut it.

Over the past four years, I’ve paid off over $113,000 in student loan debt, using a lot of unconventional ways.  I’ve purchased rental homes, hosted on Airbnb, sold stuff on Craigslist, saved credit card points, and hustled at my day job.  But I still have $76,400 to pay off before I’m debt free.

And in April I’ll marry my best friend, Mr. Graduate Investor, who will bring another $351,000 of student loan debt to the table (he started with $400,000 and was getting swindled by the Public Service Loan Forgiveness program…but more on that in a later post).  We’re lucky in that we’re relatively high earners (though not super high earners – no plastic surgeons here!), but we’re definitely not rich yet.

And, despite our degrees, we were never taught even basic financial literacy in school. Taxes, investments, capital gains, insurance, retirement accounts, the basics of obtaining a mortgage – all things I’ve had to teach myself with help from the internet and more than one mistake along the way.

What I’ve learned is that having a good income doesn’t automatically make you wealthy, and managing your finances can sometimes feel like a job in and of itself.  This isn’t a blog about super frugality, but it’s about being smart with your money, not letting the system beat you, and striving for increased net worth. (True story – I didn’t really grasp the concept of net worth until just a couple years ago!)

Many of my posts will be about basic financial building blocks – i.e. saving an emergency fund – but I also want to spend time deep diving into how moderate to high-income earners can accelerate their path to financial independence.

 

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