Pilot vs Welder: who makes MORE?💵 Would you rather be the Pilot - who has lots of THINGS, which force him to keep working - or the Welder - who is in complete control of his TIME because he didn’t fall victim to lifestyle inflation?🤔 General Assumptions - Investments earn 8%/yr - Salary rises 2% per year - This is a magical world where taxes don’t exist Pilot Assumptions - Loans have interest rates of 5% * Training Costs: * Flight training/school: $92,000 * Test fees & other gear: $11,000 * Must be at least 21 * Airline Pilot estimated pay scale: * 0-5 years: $80,000 (first officer) * 5-10 years: $180,000 * 10-20 years: $250,000 (promoted to captain) * 20+ years: $300,000 - 20% savings rate Welder Assumptions - 50% savings rate * Average length of welding classes: 1 year * Cost of welding classes: $5000 * Welder estimated pay scale: * 0-5 years: $40,000 * 5-10 years: $60,000 * 10-20 years: $80,000 * 20+ years: $100,000 (learns a highly specialized sector, like underwater welding) The largest assumption: this assumes BOTH people will make consistent, good choices with their money. As you’re aware, this can be quite rare Term you need to know: NET WORTH. Your net worth = your assets (cash, stocks, etc) - your liabilities (debts, loans, etc) When someone says they're a millionaire, they're referencing their NET WORTH, not their INCOME for the year 📌 Learn how to start investing with my free "7 Steps to Invest" checklist at my link-in-bio Follow to learn more of what school SHOULD’VE taught you about money🧠 Appreciate you! -Nick . . Disclaimer: This content is purely educational in nature and is NOT intended to be financial or tax advice.