The average architect doesn't make much, I've learned that. But I'm also sure there are tons of architect's out there who still want to live a comfortable life without financial worries.
How many of the architects out there currently have stock or have investments of some sort to keep the 'spending money' rolling in. I'm not saying we're out to buy sports cars and mansions, but enough money to not worry too much about money.
I would also like to hear of some grad students who have already preplanned and have invested on the side.
I couldn't make it in this profession without alternate resources, meaning stocks and bonds. Architecture pays a modest living and I can get laid off whenever, I'd be a fool not to. I pretend I'm poor usually - like I complian I can't afford to take the exams, but really I save like mad and invest like crazy and have some cash stashed around in stocks, bonds, CDs, and money market accounts. I am a lucky one though as my mother turned an inheritance I recieved of 18k into 100k during the 80's and 90's. I've followed by her example. Of course stocks and bonds are not guaranteed to increase value and money could be lost...
I hope to get into real estate investing soon, buying and selling properties and making some cool G's off that.
It would be hard if you were starting from scratch tho. Since I started with some, it is hard not to keep it up!
If it's available, start your 401K contribution as soon as you can, even if it's just 3%. Employer profit sharing and matching makes such a big difference in the long haul. If your employer doesn't offer it (or you're still in school) try and locate a financial advisor (or ask one of your finance major friends for advice.) It's never to early (or late) to start saving. And when you get your statements and quarterly reports, take them with a grain of salt - especially when you're young. There are several "calculators" online that will show you the benefit of 40 years worth of minimal contribution.
I know this is all common knowledge, but it's easy to become a low priority for those just beginning. If you have your deductions come directly from your check, you'll never miss it.
I'm kinda like Strawbeary, I try to save everything I can. Each year I max out my Roth IRA and try to stash away several thousand into some stocks and a money market for that in case I get laid off question. Currently my divedends don't afford me a lavish lifestyle and mostly I'm trying to grow my assets so I can live off them much later down the road.
As for architects in general I would guess that many are not very good investors. An advisor for our company profit sharing was in the office this fall and it was amazing at the ignorance most employees had towards their company provided profit sharing. I think many architects fall into the paycheck to paycheck trap because starting pay is low and student loans are massive. Then again, I don't think architects are alone with this problem. Most of my friends who earn far more than I do are terrible investors. Then again, that new Lexus is pretty nice.
Jan 2, 05 12:04 pm ·
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Are architects big on stockholding and investment?
The average architect doesn't make much, I've learned that. But I'm also sure there are tons of architect's out there who still want to live a comfortable life without financial worries.
How many of the architects out there currently have stock or have investments of some sort to keep the 'spending money' rolling in. I'm not saying we're out to buy sports cars and mansions, but enough money to not worry too much about money.
I would also like to hear of some grad students who have already preplanned and have invested on the side.
I couldn't make it in this profession without alternate resources, meaning stocks and bonds. Architecture pays a modest living and I can get laid off whenever, I'd be a fool not to. I pretend I'm poor usually - like I complian I can't afford to take the exams, but really I save like mad and invest like crazy and have some cash stashed around in stocks, bonds, CDs, and money market accounts. I am a lucky one though as my mother turned an inheritance I recieved of 18k into 100k during the 80's and 90's. I've followed by her example. Of course stocks and bonds are not guaranteed to increase value and money could be lost...
I hope to get into real estate investing soon, buying and selling properties and making some cool G's off that.
It would be hard if you were starting from scratch tho. Since I started with some, it is hard not to keep it up!
If it's available, start your 401K contribution as soon as you can, even if it's just 3%. Employer profit sharing and matching makes such a big difference in the long haul. If your employer doesn't offer it (or you're still in school) try and locate a financial advisor (or ask one of your finance major friends for advice.) It's never to early (or late) to start saving. And when you get your statements and quarterly reports, take them with a grain of salt - especially when you're young. There are several "calculators" online that will show you the benefit of 40 years worth of minimal contribution.
I know this is all common knowledge, but it's easy to become a low priority for those just beginning. If you have your deductions come directly from your check, you'll never miss it.
I'm kinda like Strawbeary, I try to save everything I can. Each year I max out my Roth IRA and try to stash away several thousand into some stocks and a money market for that in case I get laid off question. Currently my divedends don't afford me a lavish lifestyle and mostly I'm trying to grow my assets so I can live off them much later down the road.
As for architects in general I would guess that many are not very good investors. An advisor for our company profit sharing was in the office this fall and it was amazing at the ignorance most employees had towards their company provided profit sharing. I think many architects fall into the paycheck to paycheck trap because starting pay is low and student loans are massive. Then again, I don't think architects are alone with this problem. Most of my friends who earn far more than I do are terrible investors. Then again, that new Lexus is pretty nice.
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