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January 23, 2008

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Can you explain how to calculate the CAGR for your income?

Paul --

http://www.investopedia.com/terms/c/cagr.asp

I found this article interesting. You mention it's over a 20 year period, was the bulk of this period during the time that you held a 40 hour a week job? I went and calculated my CAGR over the 4 year period I have been working since college and it's 23.56%, I found that number interesting. It's true... having an advanced degree can really create an income influx.

NW --

Yes, I've always had a job (and still do), so it's all been while I've been working.

FYI, some of my biggest gains percentage-wise were early on -- just after I got my MBA.

Interesting post. I like the CAGR concept. Thank you for providing some "food for thought" to sate my financial appetite.

I also agree with your "MBAs are good degrees" premise. I am completing mine and I see fundamental changes in the way I approach financial concepts both at work and at home.

Hmmh, I missed the boat I guess. I have an engg phd but wanted to do an MBA. Now I am 41yrs old, don't think it is possible or it is worth. Anyway, my salary CAGR came to be 6.5% over 8 years. At least I beat the inflation rate!

That's some great info. Today is actually day one of my Master's program (MBA with an emphasis in IT). I've been second guessing that decision a bit lately, but I feel a little better now that I made the right choice.

Agree with everything except the MBA. As an engineer without one, i've not found this an obstacle to improving my earnings year in, year out. I have just specialised in niche technical areas where telent is hard to find...

unfortunate that you do not touch on

-the value of time in a person's life (not working crazy hours)
-the value of doing what one enjoy (not working at an un-fulfilling job)

gritting your teeth and bearing it for 2 years is fine if your goal is to claw for that extra few thousand a year (i.e., doing what your employer wants you to do), however i try to keep in mind that the few extra thousand does not make a person happier and wipes out about 3% of lifespan, which is the most precious resource one has.

how about we seek holistic solutions rather than one-track growing of monetary net worth?

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