A million dollars is not the same now as it was 30 years ago, but it’s still not insignificant and it’s not as easy as you both claim it is to reach. Otherwise, more than 10% of the US population would be millionaires a the median net worth would be significantly closer to that number than it is.
And you’re comparing who we rub elbows with?
Actually, we do get that amount of endowment, and our endowment more than doubles to about $2.3 billion.
The annual income for that extra $1.3 billion endowment will be in the $50 million range.
We can use that as we like to fund research, pay post docs, hire faculty, etc.
This is basically what the media reports actually say except the 1/3 part. We get get 25% of the annual appropriation plus a performance component which can’t be calculated without more data. Could be more or less than a 1/3 of the annual payout depending on actual research and doctorates awarded by each school.
I agree that there isn’t $1.3B being given to UH
There should be a way to have the managers of the PUF also manage this new fund to provide a better rate of return
dude, the AVERAGE house price in Houston Texas is 1/3 of a million dollars…probably higher if you separate those and only consider those with college degrees.
That’s a fact, in 2023!
Any financial planner, worth anything, recommends having a net worth of at least million dollars by time of retirement…age 65.
Your numbers are WAY OFF, for the year 2023.
Many people here have responded that they are worth millions (with a UH degree) and some aren’t even at retirement age yet
You need to change your outlook on life to positive/optimistic instead or negative/ pessimistic.
At no time in the history of mankind have you had more FREE resources at hand to be successful…you just have to care enough to find them!
Not sure if 3 million is the benchmark.
Kind of depends on what sort of passive income you have in retirement.
Personally, I think 2 million will be the benchmark by the time I retire. Especially with how much the cost of everything is rising. Although this doesn’t include the advancement of technology that would greatly decrease that cost (greatly increased automation, great technological breakthroughs, immersive digital worlds and that market, etc.)
What does that have to do with your premise?
My entire contention with your original comment is that you are out of touch with the real world.
According to you, everyone with a college degree should be a millionaire at retirement. The exceptions to this is a tragedy (which you have not defined) or incompetence.
I state that not being worth a million dollars with a college degree doesn’t have to be because of either of those two reasons.
Reality shows that other factors come into play including college not being a good return, some professions making significantly less money etc.
A home being worth $350k is great data but irrelevant. 35% of the population do not own and that percentage rate growth has slowed significantly, and may even reverse. So a price of a home is irrelevant if you can’t buy one.
Just like with the barber and the janitor anecdotes, you can’t extrapolate a few posts on coogfans to the broader population. Just the fact that we are on a message board in the middle of the day instead of doing whatever job most people do makes us outliers.
Opinions are a dime a dozen. The more you have in liquid assets the better. But the reality is that most people don’t. College degree or not. And it’s not necessarily because they are incompetent or had some meteor fall on their uninsured house.
…because if you pay off the AVERAGE house price, in the Houston metro, by age 65…you are already a third of the way there!
Besides the usual 401k, Roth IRA, and real estate investments. I’ve always found a mix of Index growth stocks, and stable high dividend ETF allow for a good amount of financial growth.
I’m not talking about the “general” population… I said people “with a college degree”…not the general population. Remember, this is a University of Houston fan forum…
Every statistic goes up when you have earned a college degree…than without
the salary average increases
the % that are investors increases
the amount in savings increases
the net worth average increases
the % that own a house increases
the average house price increases
I think Houston provides the best launching ground for anyone who wants to become a millionaire. Low cost of living, plenty of entrepreneurial capital, low taxes…if you are industrious in the city of Houston…anything can happen.
That’s right, anyone can make it in Houston, race, religion, language, handicap, doesn’t matter. Houston is the American Dream realized, a true melting pot. And we all get along because of it, mostly.
I agree with you, Houston is the city the rest of the world should epitomize.
I agree. As much as I dislike the city itself, there’s no denying it’s a moneymaking capitol.
Agreed, anyone can make it here. No one cares where you came from or who your Daddy is. It is about you.
I love Houston.
I also love U of H for the same reason. You can get an incredible education no matter where you started or who you are.
From Inside Higher Efucation:
“TUF funds will also be less flexible and discretionary than PUF money, Keller said; the money must be used for research or infrastructure and hiring to support research, whereas PUF funds can be invested in capital projects, housing or administrative hiring”.
At first that sounds not so great, but in reality, it’s what UH needs.
Why?
Because to become AAU…we need MORE RESEARCH!!!
This helps us get there.
Darn, was hoping they’d be able to start improving the land around campus.
That’s what voting for Whitmire is for.
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