COLLEGE SAVINGS 101

Savingforcollege.com

Where does a college degree have the biggest impact on your income?
http://www.savingforcollege.com/articles/where-does-a-college-degree-have-the-biggest-impact-on-your-income-1074

Posted: 2017-06-21

by Tiffany McAdams, InvestmentZen

Most potential students spend a lot of time planning for college. This usually includes selecting a major, considering financial requirements and eventually choosing a school. Some students even know where they want to work once they graduate.

However, most people don't realize that there's another important variable to consider. Where you decide to live and work can significantly influence your annual earnings. The difference between high school graduate median income and the median income of those with college degrees fluctuates from state to state, and not considering this during your planning could cost you a lot of money in the long term.

For example, in Montana, your degree will only earn you an additional 37.44% over that of your non-degree holding colleagues. On the other end of the spectrum, in several states, that hard-earned degree will earn you a more than 100% higher median income than your high school graduate coworkers. This can mean paying off paying off student loans years faster, building a bigger investment portfolio or even retiring earlier.

The appeal of staying close to home may play a large part in your post-graduation plans, or perhaps the prospect of getting as far away from family as possible is more to your liking. In either case, every student needs to make an educated decision regarding the location of their future career. It's all part of a good plan.

Take a look at the infographic from InvestmentZen below and see how much your future dream state could cost you in the long term. By pursuing a college degree, you're already investing in your future. Make sure you're getting the most out of that investment.

RELATED: College ROI: Highest paying jobs under the microscope

Where Does A College Degree Have The Biggest Impact On Your Income

Via: InvestmentZen.com

Most potential students spend a lot of time planning for college. This usually includes selecting a major, considering financial requirements and eventually choosing a school. Some students even know where they want to work once they graduate.

However, most people don't realize that there's another important variable to consider. Where you decide to live and work can significantly influence your annual earnings. The difference between high school graduate median income and the median income of those with college degrees fluctuates from state to state, and not considering this during your planning could cost you a lot of money in the long term.

For example, in Montana, your degree will only earn you an additional 37.44% over that of your non-degree holding colleagues. On the other end of the spectrum, in several states, that hard-earned degree will earn you a more than 100% higher median income than your high school graduate coworkers. This can mean paying off paying off student loans years faster, building a bigger investment portfolio or even retiring earlier.

The appeal of staying close to home may play a large part in your post-graduation plans, or perhaps the prospect of getting as far away from family as possible is more to your liking. In either case, every student needs to make an educated decision regarding the location of their future career. It's all part of a good plan.

Take a look at the infographic from InvestmentZen below and see how much your future dream state could cost you in the long term. By pursuing a college degree, you're already investing in your future. Make sure you're getting the most out of that investment.

RELATED: College ROI: Highest paying jobs under the microscope

Where Does A College Degree Have The Biggest Impact On Your Income

Via: InvestmentZen.com

 

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